We have experience in helping both new and existing contractors through the entire contracting process to make sure you can focus on your business without worrying about tax bills or deadlines. Whether you are setting up a limited company or self-employer, Partnership, have questions about IR35 or need help with invoicing, our staff are always on the other end of the phone to answer any questions, no matter how small or complex they may be.
PK Accounting Service are ideally positioned to make life simple for you by helping you with your accountancy and tax requirements as a contractor. As a freelancer, you want to be in control of your income and be ready to take on the, next project without the hassle of accountancy getting in the way.
A specialist accounting service built for the modern contractor where management of your accounts and full compliance with free IR35 basic review and company setup is provided by PK Accounting Service , you’ll get a dedicated accountant who’ll know how to:
- Maximize your take-home pay
- File your accounts and tax returns to HMRC
- Offer you advice on Contractor Business models
- A choice of accounting software to make bookkeeping easier
- Monthly Managed Accounts
- IR35 Compliance
- Statutory Year End Accounts
- Self-Assessment Tax Returns
Contractor Business Model
The key decision when starting out as a contractor is to decide what type of business model you will follow. This is an important choice as it will affect how much tax you will eventually pay. Our expert contractor accountants can advise you on the best options.
Limited Company
A limited company gives contractors “limited” liability which means that they are not personally liable for any financial difficulties faced by the company. The company is a separate legal entity i.e. if your company goes bankrupt your personal assets will not be affected. A limited company can claim business expenses which can include equipment, mileage allowance, business trips, stationary etc. Business expenses are deducted from the company’s profit meaning that you will end up paying less tax at the end of each tax year. Note that a Limited company also pays Corporation Tax.
Sole Trader
The easiest and most straight forward option for contractors as there is no separation between you and the business and all profits are yours. Note that clients are less likely to work with contractors who are sole traders though.
Partnership
When two or more people work together as a single company – similar to a sole trader structure.
IR35 rules and regulations are provided by PK Accounting Service.
- Maximize your take-home pay
- File your accounts and tax returns to HMRC
- Offer you advice on Contractor Business models
- A choice of accounting software to make bookkeeping easier
- Monthly Managed Accounts
- IR35 Compliance
- Statutory Year End Accounts
- Self-Assessment Tax Returns
Get in Touch for a FREE Consultation
Not sure if you need an accountant that specialises in helping Contractor, or if PK Accounting Service is the right accountancy for you?
[MPBOX id=461]