Limited companies

Historically, the majority of contractors have worked through their own limited companies since the tax advantages of working this way are usually far greater than any other compliant method.

The introduction of IR35 in 2000 attempted to remove these advantages but does so only for contracts falling within IR35. Very simply, IR35 states that if, other than for the existence of an intermediary company, you would have been an employee of the end user then you will be treated as an employee for tax purposes regardless of how you organise your affairs.

As a general rule, if you genuinely fall outside of IR35 rules then you are invariably better off contracting via a limited company, often called a Personal Service Company (PSC).

planIT provides tailor made accountancy services for contractors working through their own limited companies

Running a limited company involves numerous tasks and responsibilities - bookkeeping, PAYE, annual accounts, VAT returns, corporation tax returns, statutory forms... and more - which can use up your time and ultimately cost you money.

We've been in the business of offering specialist accountancy services for contractors since 1996. Our business is based on making sure that you have the freedom to concentrate on your contract while we take care of most accounting matters. So we want to make things as simple as possible. That's why we provide a choice of the best online accounting software to simplify your life.

We developed e-plan, the first online accounting system developed specifically for UK contractors. In addition we are now a FreeAgent friendly accountant, allowing the many UK contractors using the popular FreeAgent software to transfer their accounts to us seamlessly.

Whether you choose the simplicity of e-plan or the feature-rich FreeAgent (Iris OpenBooks) you will receive our all-inclusive accounting services and advice within the same monthly fee. For those traditionalists willing to spend the extra time we also offer a reduced cost spread sheet accounting service.

All of our all-inclusive services provide:

• Company Formation and Registration
• Registered Office Service
• Tax Planning Advice
• VAT Registration
• PAYE Registration
• Quarterly VAT Returns
• Monthly Payroll Administration
• Dividend Documentation
• Payroll End of Year Forms
• Filing of Annual Return
• Annual Financial Statements
• Corporation Tax Return

But we haven't forgotten the personal touch. You will be invited to meet your accountant from day one and encouraged to keep in personal contact throughout your contracting career.

Fees

All our fees and guarantees are transparent and are listed here.

To find out how we can help you, simply complete our no obligation enquiry form or call us on 020 7251 8690.

You might also be interested in the detailed articles covering aspects of operating a limited company in our tax news and resources section including; Director's remuneration strategy, the VAT flat rate scheme, the A-Z of company expenses and more.