Contractors can save money and often pay less tax when they work with the right accountants. Since HMRC implemented changes to the off-payroll working rules (also known as IR35), knowing where you stand when it comes to tax is more challenging for busy contractors.
HMRC wants to ensure that contractors who work through intermediaries, such as a private limited company that they control, pay the same tax and National Insurance contributions (NICs) as an employee, especially when a contractor is an employee, in all but name.
When you only work with one client, either through an umbrella company or intermediary (often a wholly-owned private limited company) HMRC can classify you as an off-payroll employee, and therefore liable – although the company needs to make the payment – to pay more tax and NI.
Working with a contractor accountant means you can get the advice and guidance you need to avoid paying too much tax and stay compliant with HMRC guidelines. Perrigo Consultants are the best accountants for contractors, as Chartered Tax Advisers, our aim is to offer you jargon-free tax advice and make sure your tax affairs are fighting fit. Make sure IR35 and other tax issues aren’t keeping you up at night: Contact us for a FREE, no obligation contractor accountant assessment.
Expert and jargon-free tax and accountancy advice services in Stourport, Worcestershire, the West Midlands and across the UK. IT contractors, contact us today: 01299 488860 for IR35 support.
Dave Perrigo, Director of Perrigo Consultants, has over 20 years’ accountancy experience and is qualified as a Chartered Tax Adviser (CTA) and a Chartered Certified Accountant (FCCA). He is an expert on small business tax and as an accountant for contractors, has worked with hundreds across the West Midlands, Worcestershire, London and UK wide.
Getting your accounts in shape may involve putting more money aside, adjusting cash flow or even paying a little more tax in the short-term to get things back in order if you need to make adjustments as a result of HMRC changes. However, in the long-term, with a tax adviser’s help, you should benefit by savinge money, staying compliant, avoiding penalties, which will allow you to concentrate on your clients and grow your business. Whilst getting your financial affairs fighting fit, you might want to consider other long-term solutions, such as pensions. Depending on what you need for your business and family. We have a solution for every business, contractor and freelancer, whether you are self-employed or a company director.
We know one of the most important things we can give our clients is peace of mind. No one wants to be stressed about taxes, especially when you fear that HMRC could raise an enquiry into your tax affairs. Perrigo Consultants are the contractor accountants you want fighting your corner to ensure your finances are in good shape, now and in the future.
Perrigo Consultants: jJargon-free taxation and accountancy advice for a healthy business, with a focus on supporting IT contractors. Expert tax and accounting services in Stourport, Worcestershire & the West Midlands. Contact us today: 01299 488860