Running your Company

Running your own limited company can seem daunting at the beginning however with help from a good specialist contractor accountant, you shouldn’t have anything to worry about. In this section James shares a number of guides on topics his clients tend to ask her about on a day to day basis.

If you would like to appoint Dolan Accountancy as your accountants please visit our become a client page or if you have any questions about contracting please call us on 01442 795100 or email Jaime.thorpe@dolanaccountancy.com.

The pages

IR35 Rules

With the tightening of IR35 in the public sector in 2017. It is vital you understand what IR35 and is likely to make your contract fall inside of IR35 and what clauses you should be looking for in your contract.

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Public Sector IR35 Changes 2017

From 6th April 2017, liability for establishing the IR35 status of a public sector contract was passed from the contractor to the client, or ‘engager’ – be it a government department, recruitment agency or consultant to the private sector.

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Choosing a Contractor Accountant

When contracting through your own Limited company, it can seem like a daunting task to choose your accountant – there are hundreds out there, so how do you choose the best one for you?

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Contracting through a Limited Company

The finer details of tax planning are what you hire an accountant for – you are not going to be the one sitting down with a calculator, to work out the optimum way to split your income, across your tax allowances. So what does running your own Limited Company actually involve for you?

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How to Take Money out of a Limited Company

So you’ve secured your first contract, raised your invoices and the money’s starting to roll in to your company bank account. Great! Now how do you get it out of there?

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Advice on Setting your Contract Rates

As a contractor you will need to ensure that you are motivated enough to get out there and find your own work on a regular basis. This also means having to set your rates for these contracts. When it comes to calculating how much you will be charging each client you will need to research other similar contractor’s rates of pay, as well as taking into account factors such as how sought after your skills are and the supply and demand for them.

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How to Invoice a Client

As a contractor you will need to be able to invoice clients correctly, making sure you look as professional as possible, as well as ensuring you get paid on time using methods such as establishing your payment terms.

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Can I do my own Accounts?

Preparing and submitting your own accounts can be easy – as long as you know what you’re doing! If not then there are plenty of accountants out there who can help and they don’t have to be expensive, you just need to ensure you find the right one for you.

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