Services For Freelance Contractors and Personal Service Companies

Our services for freelance contractors are designed for individuals working in the computing/IT, engineering and design sectors using a personal service company.

The primary aims of the services are:

	To keep your tax bills as low as legally possible
	To minimise the time and effort you have to spend on accounting and administration
	To make running your company as easy and trouble free as possible
	To minimise the impact of the IR35 tax regime on your company.

Want to join us as a client? - the quick links are here

Click here for our guide to choosing an accountant for your company.

Click here for our PSC micro site with every IR35 and service company resource you could wish for, including on-line registration with us.

Garbetts have many years experience of providing services to PSCs, with a successful format based on personal attention and plain speaking. We were, as far as we are aware, the first practice to realise the implications of the now notorious 1999 budget press release and make public comment on it a matter of hours later - see our original comments here.

Downloads

Visit our downloads section for a copy of our guidance notes on running your own company and IR35 compliance (select Personal Service Companies, Freelance Contractors and IR35), or click here to download all of our guidance notes on service companies and IR35 in one document.

For a full list of all our PSC resources, click here.

Standard Contractors Service

Ł800 per annum plus VAT (Ł940 including VAT) – payable by monthly standing order of Ł78.34 including vat.

Our standard contractors services covers:

	Preparation of annual accounts
	Preparation of the company’s corporation tax computations and CT600 return
	Calculation and administration of PAYE/NI scheme
	Checking quarterly VAT returns entered onto our spreadsheet template
	Preparation of director’s personal income tax returns
	Preparation of spouse’s tax return where he/she has no other significant income and draws a salary or dividend from your company
	Dealing with all routine tax queries including random audits/inspections
	Preparation of annual return to Companies House and related Companies House administration
	Registered office service
	Liaison with your pension/investment advisors
	Ad-hoc advice as necessary
	IR35 contract reviews

For our full tariff, including our lower priced entry level service, click here: PSC Services

Company Formation

Ł100 plus VAT (Ł117.50 including VAT) – pay by cheque or credit card

Ł10 extra to arrange change of company name.

NB this scale of charges only applies where you are also instructing us to act for your company.

Most companies offering company formation services do just that – form your company and little else.

Our fee covers not only forming the company, but also registering the company with the Inland Revenue, establishing your PAYE scheme, VAT registration, arranging a bank account, advice on tax minimisation, advice on book keeping and all assistance necessary to set you off as a contractor.

On receipt of your cheque or credit card number we can commence formation, with the process taking around ten days. A company name and registration number can be issued same day if required to start a contract.

To instruct us to form a company for you, download this questionnaire

If you already have a company and want to transfer to us, use this questionnaire

IR35

IR35 is the common name given to anti-avoidance rules brought in by the UK government with effect from April 2000. They can be found in S60 Sch 12 FA 2000 and Social Security Contributions (Intermediaries) Regulations 2000 (SI 2000 272). The Inland Revenues summary of the rules is in leaflet IR175. See also http://www.hmrc.gov.uk/ir35.

The rules act by imposing existing status tests as to whether an individual is employed or self-employed onto the relationship between a contractor, their company, their agent and their client. The rules ask the question "If the intermediaries of a company/agent were not there would the individual be employed or self-employed?" - in other words, is there a "disguised employment?".

If there is a disguised employment the individual is caught by the new rules - if there is no disguised employment then the individual is not caught.

The effect of being caught is that a lot of the flexibility and financial benefits from operating through a personal service company are eliminated - most income must be drawn as salary rather than dividend; expense deductions are restricted; income cannot be shared with a non-working spouse.

The IR35 rules are very complicated both in terms of the status tests and the rules which apply when caught. As a firm we have kept abreast of the rules and advised our clients throughout; more detailed information is given in our guidance notes for running a limited company, available in our downloads section.

Our standard terms of business for Corporate Clients, including Personal Service Companies are at available for download.

To instruct us to form a company for you, download this questionnaire

If you already have a company and want to transfer to us, use this questionnaire

For a link to all of our www resources for PSCs, click here

Want more information? Contact us:

Garbetts Chartered Certified Accountants

E-mail: office@garbetts.com

Arnold House, 2-6 New Road, Brading, Isle of Wight, PO36 0DT.
Telephone: 01983 400350. Facsimile: 01983 404016.