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Contractor Accounting

Entering the contractor market has many benefits but also brings with it a number of challenges and obstacles. The first hurdle is to choose the right trading vehicle for you ; be it Limited Company, Sole Trader, Partnership or PAYE Umbrella.

The table below illustrates the difference in earnings retention for a single contractor with a day rate of £300, expenses of £500 per month, and a directors salary of £1,200 per month.

Limited CompanySole TraderPAYE Umbrella
Turnover£69,000£69,000£69,000
Take home pay£49,297£47,789£42,645
Retention (%)71%69%62%

Our Accountants have all the experience to guide you through your options, with an objective appraisal of the best fit for your requirements, advice on IR35 issues and maximising take-home pay. We then tailor our services to your decision, assign you a qualified personal accountant and agree a fixed monthly fee with you

Give us a call, we’re happy to help!

We’re here Monday to Thursday

between 9:00am to 7:00pm &

Friday between 9:00am to 5:30pm

+44 207 112 7558 +44 203 468 4680