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Contractors

FULL ACCOUNTANCY SERVICES FOR CONTRACTORS

Freelancer? Self employed? Sole trader? If you don’t have employees but you are not an employee yourself, it can be hard to know what you are classified as by HMRC (Her Majesty’s Revenue and Custom).  

 

Our skilled advisers will help you to understand the difference between a freelancer and a contractor

AGP Consulting can tell you where you stand within the taxation system to ensure that you are acting within legal guidelines and providing HMRC with the correct information, when they need it.

Key Benefits of the Contractors

  • Professional accounting services tailored to your needs.
  • Accurate accounts aren’t just a legal requirement; they help you to assess your annual profits and gauge the stability of your business.
  • We offer three cloud-based solutions that will allow you us to share information and keep records efficiently.

PROVIDING ACCOUNTANCY AND TAX SERVICES TO FREELANCERS ACROSS INDUSTRIES

Once your adviser has assessed your category in the eyes of HMRC, they will be able to advise the best way for you to record your accounts in order for them to be maintained correctly throughout the year. By staying on top of your accounts all year long, you will be able to get a better picture of your financial situation and see any areas of extreme profit or loss, as well as making tax calculations simpler at year end.

PROFESSIONAL ADVICE ON IR35

Some contractors will be affected by IR35. IR35 applies to employees who have similar responsibilities to on-payroll employees, but who work off payroll. The process of deciding whether IR35 applies to you can be complicated but the policy is essentially there to ensure that if there are two workers, one of whom is off-payroll and one who is on-payroll, the off-payroll worker (contractor) pays the same level of tax and National Insurance as the employed worker.

The off payroll working rules were introduced in April 2017 but have changed again on April 2020. If you are self-employed as a freelancer or contractor and one of your roles is more like permanent employment than contracted freelance or contract work, you may be subject to IR35. AGP Consulting’s experienced professionals will be able to tell you which category you fall in and ensure that you remain compliant with legislation as and when it changes.

TAX SERVICES FOR CONTRACTORS

If you work for more than one client and you are subject to IR35 for one of those clients, you may not necessarily be subject to IR35 for all of them. If you are a contractor, it is particularly important that you understand your IR35 status so that you can file your annual return correctly and pay the right tax.

AGP Consulting’s advisers stay ahead of changes in legislation so that they can provide you with up to the minute guidance, whenever you need it.

PROVIDING A FULL SERVICE TO CONTRACTORS

Whatever your employment status, industry or size, AGP Consulting’s diverse team of experienced advisers possess the knowledge, experience and skills to give you the very best advice and guidance to help you to operate within legal parameters.

For more advice, or to find out more about the tailored accounting, bookkeeping and tax services that we provide, get in touch.

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