At Polkadot & Wellkept Accountants we support a number of high earning IT Contractors who run their affairs through Personal Service Companies.
We are well aware of the alternative schemes which claim to provide high net or gross earnings, but recommend the Personal Company route as this is by far the most efficient without using schemes which the HMRC and the government are looking to challenge. By using Personal Service Companies you are protected (unlike some of these schemes) from expensive investigations with potential high penalties. Personal Service Companies give a better return than traditional umbrella scheme, with lower risk. Figures are available on application or during a face to face consultation.
We are fully geared to invoice your client on a regular basis, advice you on what cash you can take out and need to leave in your business. We provide a working spreadsheet which allows you to constantly monitor your position, plus provide expenses templates to allow you maximise your net income.
As part of the service we will:
- Set up your company
- Invoice on your behalf if required
- Recommend on whether VAT registration is appropriate
- Do all your VAT compliance
- Help you sort out your expenses and maximise what is allowable
- Do your bookkeeping
- Prepare your annual statutory accounts and corporation tax return
- Do your annual return
- Do your own personal self-assessment return