Accountancy services for IT Contractors
From the UK's largest Accountants for Contractors and Freelancers
SJD Accountancy provides proactive tax advice and accountancy services for IT contractors who choose to work through their own limited company, all backed up by our unique money-back service guarantee.
If you are still undecided as to whether contracting is the right choice for you, then the following pages will provide you with all the information you need to know
Limited vs Umbrella
Expenses
Contractor Guides
Case Study – Moving from Permanent to Contracting
Contractor FAQ’s
IT Contracting has never been more popular, higher take home pay, the most tax efficient method possible, more freedom, less office politics. . . and what seems like the end of the 'permanent' job. Downsizing, outsourcing, corporate politics, death of the final salary scheme all seem to be pushing skilled IT professionals into contracting.
Contracting for some may be the perfect option but it doesn't come without a fair share of challenges. Generally, as a contractor if you work for a company for a fixed period under a fixed contract, you will essentially be selling your skills and time and usually be paid by the hour. Anecdotal evidence suggests that although contracts are for a fixed time they are often extended but it is always your choice whether you stay or move on to your next contract. Many contractors work for the same company for years and other than a few small tax implications regarding travel costs to and from work, there is nothing wrong with this at all.
Benefits of contracting?
- Freedom - being able to choose when and where to work
- Being your own boss
- Money - you'll usually be paid more money than permanent members of staff working on similar projects. The following links will help you to understand more about take home pay and contract amounts: Instant online take home pay calculator and Limited or Umbrella the major differences in take home pay
- Doing the type of work you enjoy doing. Often as an employed person you are pulled in numerous directions, as a contractor your work will generally be more focused
- Work experience - developing an impressive and varied CV by moving contracts frequently and experience of working in different types of organisations and work cultures
- Less involvement in office politics, but this can't be guaranteed
- Taking time out - we know many contractors who work extremely hard for 9 - 12 months and then take 2 - 3 months off
Remember - you always have the safety net that if you don't like contracting you can return to permanent work.
Tax is complicated, even the Governments' guideline booklet on expenses is over 100 pages long, so if you are thinking of going limited you'll need to think carefully about appointing an accountant.
You'll need an accountant who specialises in Contractors, Consultants and Freelancing issues, no point choosing an accountant who specialises in Pubs, engineering or shed manufacturing.
At some point you may want to meet up with your accountant - most contractors manage their relationship with their accountant over the telephone and email. However, for yearly reviews or just to go over something that's unusual or complicated it's good to know you can meet up.
Reviews and awards are a good sign of credibility as is safety in numbers, if lots of other contractors use a particular firm there's probably a good reason why. One thing to remember is all accountants are restrained by the same rules and regulations so don't be tempted by offers of schemes that seem to be too good to be true (they probably are as all accountants have access to the same schemes). HM Revenue and Customs treats all accountants the same, nobody gets preferential treatment.
You'll be pleased to know SJD Accountancy are the UK's largest specialist accountants for IT contractors with over 10,000 contractor clients, all of whom work through their own limited company. We provide all our clients with pro-active tax advice and accountancy services all backed-up by a unique money-back service guarantee.
We offer all clients:
- Free face-to-face meetings. Tax is complicated which is why we offer everyone free face to face meetings in any city of the UK. SJD is the ONLY national specialist firm with offices in all UK cities.
- Unlimited access to your own dedicated accountant. No call centres, no outsourcing, no press one for this or two for that. Telephone, e-mail or meet your own dedicated accountant face to face.
- Money back service guarantee. All your telephone calls and e-mails will be answered the same day or we will refund your monthly fee's.
- Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market.
SJD Accountancy is the ONLY national firm of specialist accountants for IT Contractors to offer free face-to-face meetings in any city in the UK, unlimited access to your own dedicated accountant - you can call them, e-mail them or meet with them whenever you need to - we never outsource or use agents.
Our all inclusive low cost fix fee monthly service of just £95 plus VAT covers everything you'll need and is one of the lowest in the market. At £95 our fees are even lower than most umbrella companies.
As mentioned we provide an all inclusive service which includes:
- Year end accounts
- Payroll bureau
- Dividend administration
- Dealing with Inland Revenue and Companies House
- Completion of VAT returns
- Completion of Annual Return
- Personal Taxation
- IR35 compliance and solutions
- Unlimited direct access to your accountant for all help and advice
- Free bookkeeping software
Appoint SJD Accountancy and never worry about your tax affairs again!
We have a vast amount of experience in forming new limited companies and in dealing with newly-formed limited companies. We also have an online company formation facility and we are very happy to assist and guide new clients in all aspects of the administration and accounting requirements of their new companies.
SJD has an enviable reputation and have won more awards for customer service and accountancy excellence than any other firm in our market. Awards include: Accountancy Excellence from Accountancy Age (twice), Best Contractor Accountant as voted by visitors to Contractor UK (UK's largest contractor website) for the last three years running, Sunday Times Awards and various National and Chamber Business Awards. We are also a Quality Accountant as deemed by the UK's largest Contractor and Freelancer trade body the PCG plus we have more qualified staff than any other specialist firm with qualifications covering: ATII, ATT, ACCA, CA, ACA, FCCA, ACMA.
If you wish to appoint us as your accountants immediately, the quickest and easiest way to do so is by accessing our Client Agreement Form.
You may also find the following pages, guides and case studies useful:
Take home pay calculator - How much could you be taking home
Online accountants - Beware of online only accountants
First time Contracting or Freelancing? - A summary of the alternatives along with pros and cons
Step-by-step Guide to Contracting - Download a FREE copy of our guide
Limited or Umbrella? Can't decide? - We help you decide which is best for you
Take home pay case studies - Examples of contractors using a ltd co. & umbrella co.
Expenses Guide - Know exactly what you can claim
Umbrella company guide - Everything you ever wanted to know about umbrella company services
IR35 Guide - A great plain English guide to IR35
If you have any questions about working through your own limited company or would like any further advice please call our New Client Services team on 0500 152 500 / 01442 232700 or e-mail rachel@sjdaccountancy.com
