Limited company - the next step for you?
At some point recently you may have heard a fellow contractor
mention about their own limited company and wondered about
it. You may have even looked into setting up your own limited
company as an option, but thought better of it.
But equally you may have occasionally looked at your payslip
through Nasa Umbrella company, and maybe wondered why you're paying
so much tax despite all your business expenses. Or you may
have been contracting for some time and have felt that now is the
time to take more control of your own affairs with a limited
company.
For those who have experienced such thoughts, our limited
company services may be able to help. Our contractor
specialist accountants have accumulated decades of experience
between them of assisting contractors set up and run their own
limited company. Their deep pools of industry knowledge have
helped hundreds of contractors save many thousands of pounds.
Going Limited Company is not for everyone though. It does
require a slightly more proactive approach than the umbrella
company, and there is an hour or so of admin involved each
month. But if you can put up with that, then savings of up to
20% of your net income could potentially be yours with a limited
company.
This is a time where deficits are spiralling, taxes are
constantly rising and tax avoidance stalwarts like EBTs (Employee
Benefit Trusts) are being hounded out of existence. Going
through a limited company is one of the few truly legitimate
methods left to the contractor to actually save money.
If any of the above intrigues, interests or excites you, why not
give us a call or drop us an email - you can do so by completing
our short contact form. We can then crunch some numbers,
explain the service in greater depth and give you all the
information you will need to make a decision.
There is also some more information about the pros and cons of a
limited company versus an umbrella company here on our website.
To give you an idea as to who may find a limited company more
suitable, you'd need to be earning around £40k per annum (approx
£20 per hour or £150 per day) and be contracting for at least 6
months.
We look forward to hearing from you to see if a limited company
may be beneficial.