Contractor Accountants >
Guide to your own Limited Company
Three easy steps to contracting through your own limited company
1. Form a Limited Company
This will take a few minutes and your company will be set up within two hours. There is a one off fee for this of £120 + VAT which is claimable as a legitimate business expense through your company.
To form a company click here or telephone 0800 5999 800 and we will make the process extremely simple and easy.
We will also help you with VAT registration and setting up free business banking.
2. Appoint Tax –Link as your accountant
What will we do? Almost everything: year end accounts, corporation tax, monthly Payroll, dividend administration, dealing with Inland Revenue and Companies House, completion of VAT returns, completion of annual return, personal Taxation, direct access to your accountant for all help and advice, and most importantly creative and imaginative tax planning and tax saving tips.
3. What’s left for you to do?
Invoice your client/agency (we provide you with a template). Complete a very simple Excel spreadsheet, similar to an expense claim form this should take about 15 - 20 minutes per month to complete. Forward any correspondence you get from the Revenue or Companies House to Us and we will take care of everything, Send payments to HMRC for your income tax, VAT and national insurance contributions. Pay yourself every month, this simply involves moving money from your Company’s business bank account into your personal account.
SIT BACK AND RELAX
Let us do the rest. We’ll take care of your accounts while you concentrate on your client and your contract.