The simple and effective solution to increasing your take home pay
The perfect solution for setting up and running your own company
Most contractors want to know ‘How much will I earn?' Contracting through your own limited company is very tax efficient. Most contractors will pay just 20% tax, this means you will take home around 80% of your gross income.
IR35 is a key HMRC legislation which prevents pseudo contractors from paying less tax. You needn't worry about this as our specialist advisors will give you free advice and ascertain whether I%35 applies to you.
If you want a second opinion about your IR35 status you should forward your contract to an employment lawyer who specialises in contract work. We are happy to recommend experts in this field. Such a contract review will cost around £500.
If you are caught by the IR35 legislation, as many contractors are, don't worry. You can still claim business expenses up to 5% of your company's gross turnover, as well as items such as travel expenses and accommodation if your contract work takes you away from your home area.
Claiming expenses is a fair and legitimate way of reducing your tax bill. You are allowed to claim any expenses which you incur wholly & exclusively as a result of contracting through your limited company. Some of your expenses will be things like:
Choosing Contractors Limited Company as your accountant means you don't have to worry about anything. We are here to help you and we give unlimited free advice to ensure your limited company is operating according to all UK legislation.
Not only will Contractors Limited Company setup your limited company for free (saving you time as well as £150), you will get specialist expert contractor advice for an incredibly low monthly fee of just £80.
Contractors Limited Company do not charge a registration or leaving fee and there are no restrictive time obligations when you appoint us as your trusted accountant.