Are you a Contractor like Tim?...
" Hi, my name is Tim and I’m an IT Contractor. I'm always busy
and short on time...so I need an Accountant who’ll make my contracting life easier. “ (Tim, IT Contractor, 19th February 2009)
1. Choosing the limited company route.
“When I first introduced myself to Jon at Freestyle, I had made the decision to become a contractor in the UK three months beforehand and had realised that an Umbrella Company really wasn’t the best solution for me. A lot of my friends and colleagues had their own Limited Companies and they seemed to pay less tax than me, but truth be told, I really didn’t like the sound of the extra work involved. Finally, I decided to see what was out there...”
2. Searching for specialist contractor accountants.
“...I came across Freestyle through a Google search for contractor accountants and filled out their online quote. I was a little dubious at first as the website claimed they could take away a lot of the administration of running a limited company.”
“Later that morning, I was contacted by Jon who was really helpful; he talked me through the service and emailed me an income illustration and ebrochure with further details. I was pleasantly surprised with how comprehensive the service really was; it seemed to be exactly what I’d been looking for – a genuinely all-inclusive service that made it easy for me to run a limited company. “
3. Opting for an all-inclusive service makes sense.
“Not only did Freestyle complete all the necessary accounting and tax requirements for the company; thus making the decision to become a contractor in the UK that much more easier, but also the service included a lot of additional items that I had on my ‘to do’ list, like....
- Professional Indemnity Insurance. My contract wanted me to have £1m of cover so I was delighted to find out that the Freestyle service included £2m of cover & there was no extra charge.
- IR35 contract review. I could have kicked myself when I found out that Freestyle included these at no extra cost as I’d already paid £150 to have one done!
- An online portal for all my bookkeeping; one of the things that had put me off having my own company for so long was the thought of all the bookkeeping and spreadsheets. The Freestyle portal is so easy; I just raise my invoices, record my expenses & then tell it when I’ve paid bills or received money from my client and it does everything else for me; it works out my company tax and vat but also works out any additional tax on my dividends so it can tell me exactly how much I can take out at any time, brilliant!
- They also throw in the other extras that everyone else seems to charge for like my personal tax return or ad-hoc tax advice. I have some buy to lets and needed some advice on what I’d have to pay if I sold one; Freestyle did all this and didn’t charge me a penny extra.
- They also have a Tax investigations service so if I’m ever investigated by HMRC, they will defend me free of charge, and that’s not to mention all the set up stuff from company formation and bank account setup, all included in the fee; I don’t get why all the other firms out there don’t do it this way. "
4. You get what you pay for.
“Granted, Freestyle Accounting are not the cheapest contractor accountants I looked at, but to be honest, with something as important as this when deciding to become a contractor in the UK, as well as all the legal complexities too, I wanted to be sure I was in expert hands They’re regulated by the Chartered Association of Certified Accountants, so if I’m not happy I can complain to their professional body, and they’re also ‘PCG accredited accountants’ so I decided to join them...and a year on, I’m still glad I did! “
If your situation sounds like Tim’s, and you’re looking for a specialist contractor accountant who will take away the strain of running your own Limited Company, then simply request a 'no obligation' income illustration below and Jon will contact you with full details of the Freestyle service.
Request an Income Illustration today!
Find out what you could earn through your own Limited Company! Complete our online form and we'll send you a personalised income illustration.
What's Included in the Contractor Limited Company Service?
Freestyle Contractor, our complete contractor accounting solution includes everything you need to contract through your own limited company.
The Freestyle Contractor limited company service includes the following:
- Formation of your limited company.
- VAT and PAYE registration for your limited company.
- Setup of a private business bank account (if required).
- Free business banking with Cater Allen (worth £15 / month).
- £2 million professional indemnity insurance*
- Unlimited IR35 contract reviews (worth £150 + VAT each) - carried out by IR35 specialists Abbey Tax.
- Acting as your registered office including full company secretarial support
- An intuitive online portal to create and email/print invoices, enter expenses and monitor your financial position.
- Chasing payments from clients.
- Quarterly VAT returns.
- Your personal tax return (worth £175)
- Professional expenses / HMRC investigation insurance**
- IR35 enquiry insurance
- VAT investigation insurance
- Monthly payroll service including all year end submissions.
- Up to date live position of your limited company, showing profit to date, what you need to reserve for tax and what is available as dividends. All accessible through your online portal.
- Annual Statutory Accounts
- Filing all statutory returns including Corporation Tax Returns.
- Dealing with all correspondence from HMRC & Companies House
- Advice on IR35 & S.660
* Professional indemntity insurance only applies to IT contractors.
** HMRC investigation insurance: in the unlikely event that an investigation is initiated by a compliance office of HMRC then the cover provided by this policy would not apply. This is standard with all insurance policies of this kind. However, this type of investigation is normally only triggered by suspicion of incorrect returns and is therefore unlikely to affect you.
Contact us for a free 'no obligation' quote and advice...
Our fixed monthly fee means you can maximise your income through your own limited company and leave the admin and hassle to us. What's more you'll have total peace of mind that you have a team of dedicated Chartered Certified Accountants and Tax Advisors on hand to offer essential tax advice and support, all included in the fixed monthly fee.
Call us today on 0800 954 2101 or complete the online enquiry form for a free consultation and personalised income illustration.
