Contractor accountants in the UK
Setting up a limited company offers many benefits, such as more flexibility over the contracts you accept, the companies and industries you can work with, and a better work/life balance. However, as a limited company director, you must meet strict record-keeping and filing requirements. Hiring a contractor accountant can help contractors by assisting with their administration, bookkeeping, and submission of accounts. A contractor accountant can also provide expert tax advice tailored to your business requirements.
Benefits of hiring a contractor accountant in the UK
There are many benefits of hiring a contractor accountant in the UK, including:
- Financial expertise and compliance – A contractor accountant who is knowledgeable about IR35 legislation will work with you to keep you on the right side of HMRC’s legislation while ensuring your company continues to operate efficiently. In addition to day-to-day bookkeeping and tax filing, contractor accountants provide valuable insights into strategic financial planning and help contractors make informed decisions about their long-term goals and financial objectives.
- Tax planning – A contractor accountant can advise on tax-deductible expenses limited company contractors can take advantage of, which can reduce their overall tax bill and help them navigate complex tax legislation.
- Peace of mind – By ensuring financial records are accurate and up-to-date, accountants play an important role in minimising the risks associated with financial discrepancies and non-compliance.
- Time-saving – The accountancy side of limited company contracting can be time-consuming and take up time that could be spent on professional work. A contractor accountant will remove the burden of the financial aspects that many contractors dislike.
- Accountancy software – A contractor accountant who utilizes modern accountancy software such as FreeAgent, QuickBooks or Xero can make managing your day-to-day finances even easier.
How can a contractor accountant help you?
Using a contractor accountant in the UK can help you with almost every aspect of contractor accountancy. Here are just some of the things they can help you with:
- Your own dedicated account manager for easy communication via telephone and email
- Company incorporation within 24 hours (if required)
- Payroll
- Submission of RTI
- Registration for PAYE, VAT and Corporation Tax
- Support with dividend documentation
- Quarterly VAT returns
- Reference for mortgage
- Reference for VISA
- Assistance with HMRC correspondence
- Assistance with business bank account set-up
- Year-end accounts
- Self-assessment tax return
- And more!
Churchill Knight & Associates Ltd’s limited company accountancy service is perfect for contractors and freelancers in the UK. Please click here to find out more about our contractor accountancy service.
Contact Churchill Knight & Associates Ltd today!
Churchill Knight & Associates Ltd has provided expert contractor accountancy since 1998 and has helped over 20,000 contractors with their accountancy. We were founded by John Payne—an IT contractor at the time—and have remained a family-run business ever since. Providing an exceptional level of customer service has always been our priority.
Please call our friendly team today on 01707 871622 or schedule a consultation for a later date. We will be happy to discuss the service with you and answer any questions you may have.
Our dedicated self-assessment tax department processes thousands of tax returns for UK taxpayers every year. If you need to submit a self-assessment, contact us today for a competitive quotation or call our friendly sales team on 01707 871622.
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