Contractor Accounts is a bespoke accounting service we provide to freelance company director operating in the private and public sectors. Following the recent changes in employment legislation referred to as IR35, it is now more important than ever for freelance contractors operating through personal service companies (PSCs) to be properly advised about their tax compliance.
PSC directors can opt for either our monthly bookkeeping, payroll and quarterly VAT reporting or our year end accounts package.
As part of the monthly bookkeeping package, we offer a choice of cloud-based bookkeeping software, including Sage, QuickBooks, Xero, or FreeAgent.
Our year-end annual accounts package includes:
- Annual accounts and corporation tax return
- Director’s Self Assessment tax return, including dividend
- Tax planning advice relating to the mix of salary and dividends
- Claiming HMRC allowances, such as mileage and use of home allowance
Our accountants work diligently to ensure that Clients accounts and tax affairs comply with the relevant UK Companies Acts, HMRC Legislation and Financial Reporting Standards.
Our compliance software ensures that Clients do not incur late filing penalties and fines by monitoring Companies House and HMRC filing deadlines for annual accounts, confirmation statements, corporation tax, VAT and payroll returns.
Company directors are responsible for filing statutory or annual accounts with Companies House at the end of their company’s financial year. The Companies House filing deadline for annual accounts is 9 months from the end of the financial year.
Corporation Tax Filing Deadline and Late Filing Penalty
HMRC requires UK companies to file and pay corporation tax on their profits within 9 months after the end of their financial year.
Both Companies House and HMRC impose late filing penalties for annual accounts and corporation tax returns which are not delivered by the filing deadline.
We would welcome the opportunity to discuss your requirements and tailor a package to suit you.