| CONTRACTOR ZONE |
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| Contractors and freelancers are an essential and growing part of the UK workforce. With this in mind Bailey & Associates offers a range of accountancy services to help professionals in this key group. Our advice is always tailored to your particular situation, and we aim to minimise your tax bill while providing you with the highest possible levels of customer service. With Bailey & Associates, tax really doesn't have to be taxing! |
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| Once we've carried out a free assessment of your situation we will be able to advise you on your best course of action. Unlike some firms offering only one product we are a full-service accountancy firm offering a broad range of services. We can therefore give you balanced advice on which product best suits your circumstances, and we'll review the situation regularly to ensure you remain in the right product if your circumstances change. |
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| Based on our experience, contractors and freelancers are most interested in the services listed below: |
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| Limited Company Services |
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| Following our advice you may decide that the Limited Company route is best for you. We provide a same-day Company formation service, and as your accountants we'll manage your firm's day-to-day administrative tasks such as banking and payroll. At the end of the year we'll also complete your company's year-end Accounts and Tax Return, along with your Personal Tax Return if needed. With our help you'll be free to focus 100% on your business, safe in the knowledge that you're complying fully with the various company and tax laws. |
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| PAYE Umbrella Services |
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| Alternatively you may decide that a PAYE Umbrella service is your best option. Our product, SunUmbrella, provides a fully HMRC-compliant service which gives you all the tax benefits PAYE Umbrella services can bring. We will run you through the various expenses that can be claimed, and will also provide you with an estimate of your likely take-home pay given your situation. As with all of the options we provide, set up is very quick and very easy! |
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| Self-Employment Services |
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| In some circumstances you may be better off becoming self-employed. If so we will help you with the set-up process, and will prepare your end-of-year Accounts and Tax Return. We will also assist you with the National Insurance implications, and provide advice on any other matters that may help to reduce your tax bill. |
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| IR35 Status Reviews |
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| The IR35 regulations can have a profound impact on the way you operate and how you are taxed. IR35 introduced the concept of "deemed employment", which is a situation in which PAYE tax must be applied even if you are being paid for the work via your own limited company. Bailey & Associates can provide you with advice on IR35, and can review your contracts to determine your IR35 employment status. If necessary, we can also administer the PAYE tax required in a deemed employment situation. |
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| VAT |
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| We will run you through the rules of VAT registration, along with the pros and cons of being VAT registered. If it's appropriate to your situation we can register you for VAT and administer the scheme for you. |
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| Please call Bailey & Associates on 0845 094 9470 to discuss any of these services. |
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