Welcome to UK Tax Adviser's Limited Company Service for Contractors
Running your own limited company is the most tax efficient way of contracting. We are pleased to offer a complete service to enable you to take advantage of the benefits of running your own limited company.
For example, on a £200 day rate contract you can typically achieve take home pay (after tax, our fees, and insurance) of approximately: -
Running your own Limited company: £840 per week (84% of contract value)
Your own limited company is easy to set up and close down and is suitable for any length of contract, even if short term or there is uncertainty on how long your contract will last.
How it works: -
- We set up your limited company. The incorporation certificate will arrive the next day after receiving your instructions.
- You then need to open an company bank account. We would suggest any of the major high street banks who offer business banking.
- We then complete all company accounting, VAT returns (if applicable), associated forms and tax planning on your behalf. We will also prepare your personal tax return.
- We provide you with the advice on how to stay on the right side of HM Revenue & Customs and minimise your tax liabilities. We only set up UK companies and use standard tax planning acceptable to HM Revenue & Customs. We do not use offshore companies or trust structures as these are vulnerable to attack and being closed down by HM Revenue & Customs.
- If the company is no longer required we can easily arrange the close down at no extra cost or the company can become dormant at any time.
All you need to do is: -
- Manage your company bank account. Download your bank statement to a spreadsheet, add details of expenses and email to us quarterly. We will do the bookkeeping from there.
- Alternatively, you can simply post a copy of all your income & expense receipts to us.
The cost to you: -
There is no charge for setting up your limited company and registration with HM Revenue & Customs.
A monthly charge of £75 + VAT = £90 for all advice, accounting & tax services. (Only payable for the duration of your work contract and to start 1 month after you start contracting). A minimum fee period of 6 months applies to cover set up costs.