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USE BOTH SERVICES AND PAY FOR ONE

Ideal for those working inside and outside of IR35

At Companion Accountancy, we understand that every contract is different. Switching seamlessly from outside IR35 through a Limited Company to inside IR35 through an Umbrella Company is essential when managing your personal tax affairs.

When you sign up for Companion Accountancy, you can use our trusted partners, Fair Pay Services, margin-FREE anytime. Continue your monthly accountancy fees of £120 + VAT to Companion Accountancy, and we’ll make sure your Limited Company doesn’t miss a deadline.

To find out more about our FREE transfers and how we could help you, please call 01296 468 185 or email [email protected]

WHY DO YOU NEED AN ACCOUNTANT?

Companion Accountancy Complete

Companion Accountancy Complete allows our Accountancy clients to switch to umbrella employment and back again as often as necessary and at no additional cost. It is beneficial if your IR35 status changes from contract to contract, which is more common since the rules changed in April 2021.

The transition is handled internally, making it completely seamless and allowing you to choose an umbrella or limited on a contract-by-contract basis. It also gives our accountants the whole story, ensuring tax planning is long-term, practical and, above all, in your best interest. Companion Accountancy Complete clients have no umbrella margin, so you only pay for your accountancy package. It means you always use the best model for your circumstances, even if they change regularly.

On the surface, doing your accounts might look like an excellent way to save money, but it’s only possible to work out that way if you’re an accountant. Here are the most important reasons why it’s essential to engage a specialist contractor accountant to help you run your Limited company.

You will only attempt to carry out a significant structural extension on your home if you’re a builder) or provide medical and dental treatment to family members if you’re qualified to do so. It’s no different with accountancy and tax advice. Your company is more than a series of administrative tasks; your accountant’s expertise adds value beyond maintaining your books and records. A good accountant will pay for their fee, often many times over, by saving you money and helping you grow your business.

Each year, dozens of tasks need to be completed, including Calculating and paying your PAYE and National Insurance, submitting your VAT returns, preparing and submitting Company accounts and tax returns to HMRC and Companies House, calculating your personal tax situation, dealing with HMRC and Companies House queries and filing a confirmation statement.

Many of these tasks come with deadlines you’ll need to keep track of, and you can incur fines and penalties if you miss them. All this is on top of the bookkeeping and the time you might need to invest in researching any queries you have, and you still won’t know if you missed something an expert would have spotted and paid more tax than you needed to.

Handing these tasks off to your accountant not only leaves them in expert hands but also frees you up to focus on what you’re good at.

How you maintain your records in one year may differ from the next. You need to be abreast of new legislation, which can be a real challenge if you’re not an expert. Your specialist contractor accountant will not only be aware of the changes as they are announced, but they will also help interpret and apply the rules, ensuring you and your company are always compliant.

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