Contractors

Baillie Accountants are specialist contractor accountants providing you with a complete suite of high quality accountancy services and pro-active tax advice. We use our contractor experience; fuse it with traditional quality values, and progressive accountancy techniques, to arrive at a great value service offer for you.

Unlike a lot of contractor accountants we are a member firm of a professional accountancy body and our directors have real business experience – that makes a big difference!

Over the last 5 years the economy has changed radically and trust in the permanent job market has waned. Salary increases have been minimal while the cost of living continues to rise. As a result of these conditions, more and more skilled people are contracting and considering contracting through their own limited company. What’s more, contractors can be their own boss, make their own decisions and increase their take home pay by using a tax efficient structure.

Despite all the clear benefits of contracting there are also additional responsibilities we have outlined both below;

Benefits

  • A very efficient tax structure, more take home pay than permanent employees
  • Contractor rates are generally higher than for an employed equivalent
  • Your contract is usually explicit and clear so you don’t get dragged into other areas of the business or arguments about responsibility
  • You are your own boss and make your own decisions
  • Organise your own training and development to focus on the areas you enjoy and to build a more rounded skill set – which can then command higher rates
  • Have a break. Permanent employees generally only get 4 week per year. You have the flexibility to take 3 months off if you like
  • Nothing stops you going back into employed work if you want to.
  • You can contract for the same organization for a number of years and still maintain the majority of your tax efficiency

Responsibilities

  • Extra administration, you will need to maintain suitable book keeping records and expense receipts. We will help to minimize the pain here!
  • Running your own business, you are responsible for securing your next contact; you are not guaranteed a contract extension, this isn’t to everyone’s liking.
  • Tax, unlike permanent employees you have greater responsibility to manage your own business and personal Tax affairs, including VAT, Corporation Tax and Income Tax. Tax law is complicated so you need to ensure you get the best professional advice to maximize tax efficiency.

We will help you to take care of your responsibilities as a business owner by providing a complete accountancy solution for a great price.

  • This package includes;
  • Statutory Accounts Production
  • Corporation Tax Computation
  • Corporation Tax Return
  • Payroll process VAT calculations and returns
  • Dividend planning
  • Annual return
  • Liaising with HMRC/Companies House
  • Unlimited general business advice, from qualified accountants with real business experience

Our complete accountancy package for professional service providers and contractors is only £90 plus VAT per month.

For advice on contracting through a limited company, allowable expenses or if you would like Baillie Accountants to incorporate a limited company for you, please contact us here.