You have probably heard the terms IR35 , umbrella company and Personal Service Company. They might sound confusing, but we can help you choose the best option for you. In certain circumstances you can operate through your own limited company – which is far simpler than it sounds and can have huge financial advantages.
The key benefits of a limited company over an umbrella company or being on the payroll are:
• Pay NO National Insurance
• Claim tax relief on allowable expenses e.g. iPads, laptops, travel.
• Benefit from the Flat Rate VAT scheme (more money in your pocket)
• You pay less tax and you pay it later than other structures
• Tax Concept can take care of nearly everything and give you a simple life for a very competitive fee
It’s important to know that operating under a limited company does not apply to all clients. In some circumstances it is more suitable to use an umbrella company or to contract via the PAYE system. The crucial point is that if you are a contractor, freelancer, consultant or you have flexibility how you receive income then you should speak to a specialist accountant to review your options.
With the experience and knowledge of Tax Concept backing you up, we are confident that you will find that the process is more straightforward than it may first appear.