Resources for Personal Service Companies & IR35

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This page provides links to our resources for Personal Service Companies and IR35. If you've arrived here from a search engine then click here for an introduction to our services for service companies or here for our guide to choosing an accountant.

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

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 IR35 budget press release and make public comment on it a matter of hours later - see our original comments here.

Latest Updates

Formation

Guidance on forming a company

Our formation questionnaire (formationquestionnaire.xls)

Registration

Form for existing PSCs to register with us (registrationquestionnaire.xls) (for new formations use the formation questionnaire link above)

IR35

IR35 – basic principles

IR35 – status checklist

IR35 – getting the contract right

IR35 – contract reviews

IR35 - dividend strategy

Services and Terms of business

Introduction to our PSC services

Our service specification

Our terms of business

Accounting and transaction recording

Details on our transaction recording system

Accounts template (intended for use over a complete accounts year) - this covers both vat registered and non vat registered companies.

Guidance notes on the accounts template

The above template is designed to be used for a complete accounts year and updated quarterly; therefore you should only download it at the start of the tax/accounts year.

Tax planning tools

PSC tax planning spreadsheet - a simple spreadsheet enabling you to model profit, dividend, salary and shareholding options.

Salary calculator - a simple spreadsheet for calculating net salary and deductions for any given month.

Contract reviews

Garbetts offers a contract review service, but please see the guidance below about what types on contracts we can review and the supporting information needed.

IR35 – contract reviews

Contract review questionnaire - in PDF or Excel

You must send in the contract review questionnaire with any contract you wish us to review.

Tax Enquiry Insurance

With the high risk of enquiries relating to IR35, we recommend all contractors take out tax enquiry insurance which we offer in association with Qdos Taxwise.

Follow the link below for more information:

Tax Enquiry Insurance

Application form

Application is direct to Garbetts, using the link above.

Information and Guidance

All the guidance below, consolidated

Introduction to PSCs
Garbetts PSC Services
Choice of Structure
Forming a company
Umbrellas and composites
How the company and contractor are taxed
Taxation rates
Example of tax liability for a contractor/PSC
Tax rates and take home percentages at differing income levels
Expense claims & allowances
Invoicing
How does it all work in practice
Pension or insurance provision
Shutting a company down, or putting on hold
What accounts and returns need to be filed
Running another business or hobby though your company
Investing through your company
What records need to be kept
Garbetts transaction recording system
Self assessment
Directors current account
Understanding the annual accounts
Working abroad
IR35 – basic principles
IR35 – status checklist
IR35 – getting the contract right
IR35 – contract review
IR35 - dividend strategy
Income Shifting
Tax Enquiry Insurance
Contractor Insurance (General)
VAT for PSCs (including Flat Rate Scheme)
Employing someone to assist you
Tax and childcare
Working from home
Companies House web filing

All the guidance above, consolidated

For Further information, please 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.

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