Limited Company Solution
As a contractor or freelancer you have the opportunity to take home more of your income each month using your own Limited company solution.It’s important to make the right decision and get it wrong and you could be facing a fine from HMRC. Get it right and you can enjoy higher returns and a life free of administrative stress.Amity Accountants specialises in providing individual accountancy, tax advice and administrative services to professional contractors.
Our goal is to help you make the right decision by providing you with clear and honest advice about your options. You can call at anytime to speak in confidence with one of our specialist Accountants.
We will never pressure you into making a decision, because we believe that presenting you with all the facts up front is much more likely to lead to a longer term relationship.
Limited Company vs. Umbrella Company
A Limited company is often considered the most prudent option if you are outside of IR35 (although it can also be an option if you are within IR35), as in many cases you will take home a greater proportion of your income than through an umbrella company. This is because you can benefit from the Flat Rate Vat Scheme, lower National Insurance contributions, and the option to claim back tax on a broader range of business expenses. Also draw dividends in the most tax efficient way.
Almost any firm of local accountants can help you to set-up a limited company for a fee, but they will almost certainly not have the specialist knowledge required to ensure you are compliant with specific contractor legislation such as IR35 and MSC.
Many contractors choose to work with an accountancy company because it leaves them with the time to focus on their work and family life, without the need to worry about invoices, tax returns, IR35, professional indemnity and other matters that many think are best left to qualified accountants and administrators.
In order to discover the best solution for you we strongly recommend contacting us for a discussion and an individual quote based on your specific circumstances. We offer a free IR35 status review, which may be useful in your decision-making. Call our team on 02089528989 or emailÂ [email protected]