For those individuals who run their own companies, Thornberry has in house accountants that can provide the personal accountancy service
For any contractor, the limited company option simply makes the most sense in terms of the money in your pocket. You need to consider IR35 when choosing your payment method, but we’ll help you with that from the outset. As the owner of your own limited company you are entitled to make the most of the profits you generate through your business. Profits can be paid to you as dividends, and dividends are a more tax efficient way to receive your income than purely as salary, most importantly because dividends are not subject to national insurance contributions (that can mean a saving of up to around 20%). Also, as a contractor who is incurring legitimate business expenses, you can deduct these from your own limited company, which again reduces your tax liability and can do so considerably – even for items such as your mobile phone bill or posting us any documentation.
Finally, when running your own business in this way, you may well be able to reclaim some of the VAT back on your spending, or having sought advice from a qualified accountant such as us, there may be other options available to you that will also save you money. We will take care of all of the more difficult stuff such as admin and the legal stuff that Companies House and HMRC need, as well as helping with your business bank account and insurances.
- • Cost-effective tailored made packages call our experts for prices.
- • Full tailored suite of services including: –
- • Limited company incorporations,
- • VAT registrations & submissions,
- • Management and year-end accounts.
- • Corporation Tax submission
- • Personal Tax return submission
- • Fully qualified and regulated in house team of accountants and lawyers.
- • FreeAgent to assist you limited company run smother.