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If you are about to start contracting or freelancing then you should consider setting up your new business in the way so that you minimize your long term tax liabilities, while maximizing your income and making it easy for your customers to deal with you.
Setting up and running a limited company, where you become a director and shareholder, is the most tax efficient way of working and has a number of advantages.

For example, you can claim back a wider range of expenses, including accountancy fees, mileage and subsistence, accommodation etc. and you can also access a VAT scheme known as the flat rate scheme, which allows you, depending on your industry to increase your turnover by up to 10% by keeping some part of the VAT that you receive from your agency or main contractor as additional income. Running your own company is not extremely difficult and, with the assistance of a good accountant, is no more challenging than any other form of trading.
Limited Companies are much more tax efficient than any other form of trading including umbrella companies and self employment and it is perfect for most industries like IT, design, pharmaceutical, construction and construction related, transportation, medical and nursing (VAT exempt) etc.


For more information please call us at 02034755561or email us at [email protected]
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