CONTRACTORS

 

Being a contractor in today’s market is no small feat. Not only do you have to be professional, hard-working and devoted, you also need to run your business and stay on top of your ACCOUNTS

This presents a problem for many contractors as it involves mastering an entirely new, and quite complex skill-set. It can draw attention away from your primary goals as a contractor and cost you money.

You can stop worrying about the annoying details of the IR35 as well as being hassled by HMRC over minor errors in your reporting and tax documents and instead use your time more wisely to enhance your skill-set, charm new clients and expand your business. We can help you navigate the IR35 changes and set you up in the most efficient manner.

Our contractor accountants will help you make the right decisions for your career as a contractor, while analyzing your figures, keeping track of VAT, and accurately manage your bookkeeping for a worry-free experience.

Maybe you’re a consultant, a freelancer, or a software engineer, either way PMA Accountants can lend a hand to handle those tedious figures and set you on your way to growing your business as a contractor.

Please contact us if you would like a free consultation to discuss the tax advantages of contracting in more detail and the different possible scenarios.

We offer all inclusive services for contractors including…

  • Company formation;

  • Annual Accounts;

  • Company tax returns;

  • Personal Tax Returns;

  • Company secretarial service;

  • Book-keeping;

  • VAT Returns;

  • PAYE Returns;

  • Tax computations;

  • Review of contracts for IR35 status;

  • Provision of anti IR35 draft contracts;

  • Dealing with IR35 disputes.

IR35

There are many factors to consider in deciding if a contractor is caught by the notorious IR35 legislation.

Fundamental factors to consider:

  • Control;

  • The right to get a substitute or helper to do the job;

  • Mutuality of obligations.

Other factors to consider:

  • Provision of equipment;

  • Financial Risk;

  • Basis of Payment;

  • Opportunity to profit from sound management;

  • Part and parcel of the organisation;

  • Right of dismissal;

  • Employee benefits;

  • Intention of the parties;

  • Length of engagement.

These are often matters of general employment law, and not specific tax legislation. There is an enormous amount of Case Law in this area and the Taxman is not always right. They do not have the final say on whether somebody is caught by IR35 or not. We can argue your case for you.

The cost of employees and employers national insurance if you get it wrong are considerable as well as interest and penalties.

We can review your existing arrangements and give you our opinion on whether it will stand up to attack from the Revenue. We can help draft contracts for services to assist you and advise on how you can maximise your chances.