IT Contractors

IT Contractors

Accountancy services for IT 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.

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 IT 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.

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: 

If you have any question about contracting or would like any further advice please call our new business team on 01442 275789 or email newbusiness@sjdaccountancy.com.

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SJD Accountancy

SJD Accountancy are the UK's largest specialist provider of fixed fee, Limited company accountancy services to contractors; we've been acting for contractors across the UK since 1992 and have more than 15,000 clients.

We are the only national specialist firm of contractor accountants with offices nationwide. SJD Accountancy has more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATT, AAT, CTA, ACCA, CA, ACA and FCCA.

  • Unlimited face to face meetings. This is a unique service only SJD Accountancy offers - unlimited face to face meetings across the UK - tax is complicated and sometimes only a meeting will do.
  • UK's largest contractor accountants with more qualified staff. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated accountant face to face.
  • Our Customer Promise. Respond to any question sent to your accountant or any dedicated department within 24 hours.  If we need more time, we will update you as soon as we can and we promise to keep you informed of the progress we are making in answering your question.
  • Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market, including: Best Accountant for Contractors, Accountant of the Year and Best Professional Service Team to name just a few.
  • All inclusive low cost fixed fee accountancy package which includes completion of accounts*, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, your own dedicated accountant* and all company returns for a fixed fee starting from £120 plus VAT per month. Check our packages for more detail.

If you have any questions about contracting or would like any further advice please call our new business team on 01442 275789 or email: newbusiness@sjdaccountancy.com. Our new business team is open Monday to Thursday (8am to 8pm), Friday (8am to 7pm) and Saturday (10am to 4pm)

Appoint SJD Accountancy and never worry about your tax or accountancy affairs again.

Form your own limited company with SJD - our same day online company formation service includes company bank account set up, VAT/PAYE registration and advice on optimum share structure. 

You may also find the following pages, guides and case studies useful:

*If you would like us to complete your company year end accounts we simply ask that you have been a client of SJD for one year or have made 12 monthly payments. All accountants are part or fully qualified.