Accountants for Contractors & Freelancers
We are trusted accountants and business advisers and can assist you with a variety of services such as:
Tax returns
Pension planning
Business advice
Tax planning
Budgeting and forecasting
All of our services can be tailored to suit your specific needs. If you are just starting out, you may require help with administration and form filling as well as tax advice. We can also help you with your bookkeeping and setting you up with an online accounting package if required
From making that initial step to self-employment to deciding how you operate your business, i.e. sole trader, limited company or through an umbrella company, we can help you stay on track with your finances.
If you operate through a limited company you will need to ensure you are IR35 compliant. We can review your contract with reference to this and also help with VAT matters, if required.
Changes to off-payroll working rules
The rules aim to ensure contractors who are not genuinely self-employed pay the same income tax and NICs as employees. The rules for determining who was responsible for deciding when IR35 applied were reformed in 2017 for the public sector and in 2021 for the private sector. The private sector reforms only applied to medium and large end-clients. Contractors working for small private end-clients have to work out their IR35 status themselves.
According to estimates by HMRC, around 130,000 workers are likely to have been affected by the 2021 reform. It's essential to understand how to comply with off-payroll working rules and what happens when it goes wrong. Our latest guide to IR35 looks at how the rules affect businesses.
Please get in touch if you have any questions or would like our advice.