Contracting through your own Limited company is the most tax efficient way of working meaning that you can take home more of your hard earned money. Any accountant or tax expert will tell you this. But isn’t it a lot of hassle managing your own Limited company?
Well we won’t lie, using an umbrella company is the simplest option.
However, you might be surprised at just how little extra work there actually is managing your own Limited company. Other than sending a few cheques here and there to HM Revenue and Customs (your dedicated LDF Accountancy Services Ltd accountant in the Stockton on Tees area will help you understand how much to pay), sending out invoices, and filling in a spreadsheet there really isn’t that much more. Contractor clients say to us it typically takes them about 15 minutes a month.
The financial rewards for owning and working through your own limited company compared with using an umbrella company could be substantial, as much as £15,000 per year more on a daily rate of £350.
We can carry out company incorporations in a matter of days and also take care of VAT and PAYE registration for the company if its tax efficient, call us today to discuss the costs involved and also the saving in comparison to self employment and employment.