We're accredited by the FCSA
Becoming a contractor has many benefits, including earning potential, a higher degree of flexibility in terms of the hours you work and the work you do, and the possibility of developing your knowledge and skill set. On the flip side, becoming a limited company director comes with many administrative responsibilities. Appointing a specialist contractor accountant means they will be familiar with all relevant legislation and tax regulations and are familiar with how contractors operate. They can take on some of the administrative tasks to leave you with more time to focus on the work you love.
The benefits of using a specialist contractor accountant
Using a specialist contractor accountant can make your life as a contractor much easier, giving you more time to do what you do best and leaving the financial and tax responsibilities to an accountant. Other benefits of using a specialist contractor accountant include:
- Tax legislation – Unless you have experience in financial affairs and tax legislation specific to contracting, you may find the accountancy side of limited company contracting daunting. A contractor accountant can help you navigate complex tax regulations and HMRC legislation and will be knowledgeable about legislation specific to contractors, such as IR35.
- Accurate bookkeeping – A specialist contractor accountant can provide help and guidance on how to efficiently and compliantly track income and expenditure and organise your financial transactions. Accurate bookkeeping is important as it plays a key role in reporting, tax compliance, and overall financial management.
- Tax compliance and planning – Tax legislation is complex and ever-changing, and contractors must ensure they remain compliant with the latest changes. A contractor accountant will ensure your records are accurate and tax returns are submitted correctly and on time. They can also provide tax planning tailored to your business.
- Maximising allowable expenses – A specialist contractor accountant can help you categorise and track your expenses and identify all eligible deductions to improve your tax efficiency and profitability.
- Expert financial management – A specialist contractor accountant can provide advice and support to ensure efficient and compliant overall financial management of your limited company. This can range from budgeting and forecasting to record-keeping and managing cash flow.
How can a specialist contractor accountant assist you?
A specialist contractor accountant can help you with almost every aspect of contractor accountancy. Here are just some of the things we 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 call our expert team on 01707 871622 or schedule a consultation to find out how we can support you and your business.
Contact Churchill Knight & Associates Ltd - specialist contractor accountants
Churchill Knight & Associates Ltd are specialist contractor accountants and, since 1998, have helped over 20,000 temporary workers get paid compliantly with HMRC. We can provide unlimited support and advice to ensure your accountancy is as stress-free and seamless as possible. And can offer tailored tax planning and advice to help your business flourish.
To learn more about our FCSA-accredited accountancy service, please call 01707 871622. You can also schedule a consultation to discuss your accountancy requirements or request a tailored quote here. We look forward to speaking with you!
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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