Entering the contractor market has many benefits but can also give many challenges. First of all you need to decide which legal form you should adopt whether it is a sole trader, partnership, Limited Company or PAYE Umbrella.
We arrange fixed fees for our work on contractor accounts so that there are no surprises plus we give 35% discount for the first year for new contractors and Free Company formations
The table below shows the different effective tax rates we charge for the different legal forms for a contractor working for £300 per day with £600 expenses per month and a director’s salary of £1,000 per month and the typical fixed fee we would charge for the contractor accounts.
|Limited Company||Sole Trader||Umbrella Company|
|Take home pay||£50,340||£47,589||£42,645|
|Earnings retention (%)||73%||69%||62%|
|Contractors accounts monthly charge with 35% discount||£78||£46|
How we can help
We specialize in providing contractor accounts so if you are looking for an accountant to prepare your contractors accounts then do not hesitate to contact us for further information on line or by calling on
+44 (0) 20 3145 0995 and we can arrange a No obligation FREE initial meeting