Self-employed? We’ll help you balance your many different priorities.
Do you need an extra pair of hands to manage your finances?
If you’re a self-employed contractor, freelancer, or consultant, managing your financial affairs can be an extra hassle you simply don’t need. When you work for yourself you have a million balls to juggle at once; why not allow us to take some of the strain away?
Practical, no-nonsense advice Whether you’re just starting out by yourself, you’re looking to set up a limited company, you need a specialised IR35 contractor accountant, or you just want a friendly voice to answer your questions, we’re here to help.
Our team of accounting experts will guide you through all your legal and financial requirements, leaving you free to focus on growing your business.
Packages to suit your needs, from as little as £90 + VAT/month
Here at Tax Agility we offer a range of different contractor accountancy packages to suit your individual needs, from one-off business set-up consultancy, to all-inclusive financial management.
Our fees are fixed; you only pay what has been agreed in advance, with no hidden charges. If you have specific requirements we’ll be more than happy to tailor a flexible package to suit your personal needs.
For competitive monthly fees and professional, friendly advice you can trust, contact us today on 020 7129 1199 or get in touch with us via our contact page to arrange a complimentary, no obligation meeting.
Our Contractor Tax and Accounts Services
Here at Tax Agility our experts in contractor tax and accountancy services are here to help you have a better understanding of your personal tax situation, and the number of options you have open to you as a contractor.
Accounts and Bookkeeping
Ensuring your accounts are accurate is vital when you choose to take control of your business and financial affairs. Here at Tax Agility our experienced, professional accountancy and bookkeeping managers are poised to prepare your monthly or quarterly management accounts, annual statutory and management profit and loss accounts and balance sheets, contractual budgets and cash-flow forecasts, and VAT returns, among a wealth of other services.
Setting Up a Limited Company
There are many different ways you can choose to structure your business as a contractor. If you choose to set up your own Limited Company we’ll help guide you though the necessary legal requirements in the simplest, most tax-efficient manner. We’ll also make you aware of your financial responsibilities throughout the year, with our advisors happy to place these responsibilities on their shoulders.
Introduced in April 2000, IR35 legislation aims to cut out the practice of contractors avoiding paying tax and national insurance contributions by working through intermediaries, such as personal services companies and registering as a business partnership, despite the fact that in other circumstances the contractor would (for tax and national insurance purposes) be regarded as an employee of the client. We’ll work with you to ensure your contract work is regarded as outside IR35, allowing you to avoid the taxes and penalties that come with it.
IT Contractor Accounts
If you’re an IT contractor, our team of experienced accounting specialists here at Tax Agility can work with you to ensure you’re not over or underpaying in your accounts, and that all required forms and legal documents are submitted as and when they’re due. You already know the financial benefits of working as a contractor, which is why it’s our duty to make sure you don’t lose an unnecessary penny along the way.
Construction Industry Scheme (CIS) Support
Contractors working in the construction industry must register for the Construction Industry Scheme (CIS), HM Revenue and Customs’ method of deducting tax and national insurance contributions from any payments you may receive from subcontractors as advance payments. If you’re purely a subcontractor you won’t be made to register for CIS, but by not doing so you’ll have your deductions taken out at a higher rate after the fact.
Umbrella Company Setup
Choosing to run your business through an Umbrella Company can help you to avoid many of the administration duties associated with running a Limited Company. In this setup, you’ll essentially be employed by the Umbrella Company; you’ll be expected to submit timesheets and expenses, and in return the Umbrella Company you’re working under will take care of the majority of administrative duties and paperwork for you.
If you choose to operate through an Umbrella Company you should know in advance that doing so is more akin to being employed in a traditional job than working for yourself. We can help you weigh up the advantages and disadvantages of each, to ensure you make the right choice for you.
Other Relevant Resources and Services
We provide a wealth of relevant resources and services designed to help contractors just like you keep their finances in order, and their business in check.
Contractor Tax Advice
Here at Tax Agility, our contractor accountants offer personalised tax advice to suit your unique circumstances, designed to maximise your take home pay. Our highly individual advice comes from us knowing your background ahead of time, alongside your professional plans going forward. We’re more than happy to answer all and any burning tax questions you have on your mind.
Self-Assessment Tax Returns
As a contractor you’re required by HM Revenue and Customs (HMRC) to submit a self-assessment tax return each year. If you’ve never submitted a tax return before our tax specialists are on hand to help draw one up for you in no time, explaining each step along the way and providing you with tips to maximise your savings while doing so.
Working as a contractor typically allows for you to charge higher prices for your services, which therefore increases your take home pay compared to working as an employee in the same field. For this reason, if you have made any personal investments our team of financial specialists and contractor accountants can work with you to keep on top of them; submitting any forms that need to be seen to, and advising you on any future investments going forward.
Calculators and Fact Sheets
We’ve created a number of calculators and fact sheets to assist you in getting a general idea of what your take home pay will be, what you should expect from your dividend tax bill, and to help you to understand the VAT Flat Rate Scheme:
– The Take Home Pay Calculator can be used to calculate your monthly take home pay, after taxes, assuming full tax planning and procedures are in place.
– The Dividend Tax Calculator is perfect for calculating the amount of tax payable on dividends received when contracting through a Limited Company.
– The Flat Rate VAT (Value Added Tax) Fact Sheet provides information on the VAT Flat Rate Scheme, with comparisons between this and regular VAT.
To find out more about how our Contractor Accountants can help contractors, such as yourself, save money, contact us today on 020 7129 1199 or get in touch with us via our contact page and we’ll call or email you back (your preference).