Accounts for Contractors

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Our Contractor Service

As a Contractor with a Limited Company, it’s a challenge to keep track of the taxes you are building up.

Our monthly system calculates and lets you know which taxes you owe, and when and how to pay them – plus a recommendation on how much to hold in a ‘Tax Fund’.

Our Contractor clients have found this to be one of the most valuable aspects of our service because it avoids unexpected tax bills.

Reasons to choose AMS

  • When you’re between contracts we’ll reduce our fee by 50%
  • We won’t charge you until your contracting income starts
  • We’ll forecast your business taxes every month – suggesting how much to save in your ‘Tax Fund’
  • Free advice on your options re income when Higher Tax Rate is imminent
  • Tax advice and general support freely available
  • In-house client newsletters every month
  • We deal with all VAT, PAYE and Corporation Tax submissions, and comply with MTD without you needing to buy cloud accounting software.

Your monthly report

Every month your monthly report will contain the following. (Including a single page summary of actions to take):

  • Forecast of your Company taxes
  • Advice on how much to save in a tax fund – adjusted monthly to reflect your business activities
  • Statutory payslips & dividend vouchers
  • A summary of your business expenses
  • Higher Rate Tax threshold warnings plus an invitation to call us for free advice on your options
  • A personal rolling calendar of important dates
  • A record of invoices we have sent on your behalf

What we’ll need from you:

Every month, all you need to do is complete two simple digital documents (hard copy if preferred), and send them to us with a bank statement.

Making Tax Digital for Contractors

Our Contractors will not have to sign up to expensive cloud accounting software to comply with the new HMRC Making Tax Digital scheme. After researching various solutions we decided to use HMRC approved bridging software which complies with MTD – instead of changing to a cloud based system. This will enable us to continue to give useful monthly reports to our contractor clients. We will continue to predict their upcoming taxes, advise them on how much to keep in a tax fund and how much money they can take from their Companies. 

Plans and Pricing

Our standard fee is £107.00+VAT per month. During periods when you have no contracting income we will halve it and we will not charge you until you start receiving income from your contract.  

Included Services

Company Formation

Service Address

Face to Face, Phone and Email Advice and Support

Quarterly VAT Returns

Annual Salary Review

Dividence Calculation

Reduce Fee by 50% when out of contract and no income

Advice on Shareholdings

PAYE and VAT Rgistration

Annual Accounts to Companies House and HMRC

MTD Submissions of VAT Returns

IR35 Advice

Submissions of Confirmation Statement

No handover charge if moving from another account

Registered Office

Our Bespoke Monthly Report

Corporation Tax Returns (CT600) and Computations

Payroll for Director including RTI Submissions

Advice on Allowable Expenses

Dealing with routine Tax/VAT/PAYE Queries

Additional Services

+ Self Assessment tax Return – From £99.00 +VAT

+ IR35 Contract Review – £123.00 + VAT

+ Confirmation Statement Fee (Annual Fee charged by Companies House) – £13.00 annual charge

+ Company Closure – From £177.75 + VAT

+ General Reference – £41.00 + VAT

+ Invoicing your Client/Agency – £6.95 + VAT per invoice

+ Change of Company Name – £61.50 + VAT

+ Payroll for additional employee – £6.35 + VAT per employee per month

+ Mortgage/Leasing Reference – £70.25 + VAT

+ New Share Allocation – £61.50 + VAT

Martin Robson

Contractor, Cheltenham

The Challenge

I was a retiring Contractor and my then accountant failed to properly advise me on the tax implications of taking money out of my company on cessation – and on the most practical way to do it.

The Solution

AMS advised me to take my money out using a variety of solutions. I avoided the use of a Liquidator, saved on accountancy fees and admin time, all resulting in no Capital Gains Tax to pay.

The Outcome

I am not in business any more but I am very pleased that I found AMS. Following their advice made a very good end to my working life. 

Get in touch today for a free consultation.

We are very happy to meet you to discuss your business or even your idea for a business. We will advise you on the most tax efficient structure if you are setting up and we can review your business if you are already trading.