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Accounting for contractors on the Wirral

Those who decide to embark on a new career as a freelance contractor will benefit by seeking advice on cost-effective options. They will no doubt be aware that a personal limited company is the most tax-efficient option for them as a freelance contractor.

Getting to know an accountant

Many people who have spent years working as an employee find that their career paths eventually lead them to working as a contractor. People in this situation will want to consider their options for accounting services available for contractors on the Wirral. A face-to-face meeting is a good way to start so that they establish a rapport with their accountant. For potential contractors who are very busy or have limited time, it is possible for an accountant to visit their premises or another venue of choice within the Wirral vicinity.

Making a clear start

It is always reassuring to start off in a clear, unpressurised manner, so an initial obligation-free meeting will iron out the issues faced as a contractor. The option of setting up a limited company will be explored. If this is not suitable, then other options can be discussed and the tax advantages and disadvantages will be identified. It may also be advisable for contractors to discuss areas of concern, such as the impact on their pension or mortgage.

Being in good company

Services that provide thorough and professional accounting for contractors on the Wirral will also evaluate the situation if they decide that a limited company is their best option. They can buy an off-the-shelf company, complete with its own name, or can choose to set up a brand new company with a name of their choice. Deciding on the latter course will mean that a company can be established and ready to trade within 24 hours. If time is limited, then expedited accounting for contractors on the Wirral can be offered, whereby the company can be set up by phone or email.

Taking it from there

Once the company is set up, Wirral-based accountants will prepare payslips, dividends and, very importantly, submit all returns to HM Revenue and Customs and deal with any queries raised by the organisation. All that the contractor will have to do is raise the cheques for payment of wages and dividends, plus any tax due. Online accounting for contractors on the Wirral is provided with electronic filing of appropriate HM Revenue and Customs returns, in order to benefit from the attractive rebates on offer.