Contractor's Tools IR35 News Recruiter FAQs Umbrella Education Accountancy Construction Recruiters Blog Why Orange Genie? Accountancy Portal 01296 468 483 Home About Us Services IR35 Hub Resources Downloads Clients Podcasts Videos Refer a Friend Contact Us Are you switching from Limited Company to Umbrella Employment? Click Here To Calculate Your Take Home Pay >> We have created an information hub to support our Orange Genie Accountancy clients, our Umbrella Employees and agencies where the Covid-19 rules and legislation are explained for recruiters, contractors and the self-employed. Click Here To Find Out More>> Contractor Accountants Free accounting resources for contractors powered by expert contractor accountants. Accountancy tips, IR35 advice, FreeAgent guides and video tutorials, accounting guides, resources and tools for contractors running their own limited company. What is a contractor accountant Contractor accountant feesIR35Extracting funds from a Limited CompanyExpensesFreeAgentAccounting knowledge hubTaxes What is a contractor accountant If you choose to contract through your own limited company, you’ll need an accountant to look after your tax and accounting needs. A contractor accountant specialises in serving contractors. They’ll be familiar with all the complex legislation that affects the contracting industry, and expert at helping contractors maximise their rewards. Your choice of accountant can have a significant affect on your experience and success as a contractor, so it’s well worth making sure you choose the right one. Reasons To Switch Accountant and How To Choose One: Download Our Free Guide >> Common questions about contractor accountants: What is an expert contractor accountant? This is an accountant who specialises in the contractor market, which means they’re used to working with individuals, as opposed to larger businesses, and they’re expert in all the regulations and tax laws surrounding contracting and self-employment. What are the responsibilities of a contractor accountant? There are a number of tasks that you can expect your accountant to assist with or carry out on your behalf: Getting started: If you’re just starting as a contractor, or you’ve just made the decision to “go limited” you’ll need to incorporate your company via Companies House, open a business bank account and register to pay VAT, Corporation Tax, and PAYE tax and NI. Once you’re trading: you can expect your accountant to run payroll (usually for you as the only employee), submit payroll data to HMRC, deal with correspondence with HMRC, complete your company’s VAT returns, annual accounts and tax return, provide tax planning advice and answer any questions you might have about your tax affairs. Your accountant may also offer: Bookkeeping though online accounting software, completion of your personal self-assessment tax return, provision of a registered office address, and introductions to third party experts like specialist mortgage brokers, IR35 specialists, insurance experts, financial advisers and CV/interview advisors. Orange genie Accountancy have got a team of expert contractor accountants. They cover all the major cities in the UK such as London, Manchester, Birmingham, Aylesbury, Liverpool, Leeds, Oxford, Glasgow, Bristol, Edinburgh, Cambridge, Belfast, Hull, Bath, Leicester, Blackpool, Nottingham, Peterborough, Plymouth, Portsmouth, Southampton Stoke-on-Trent and much more. Contact us today to find out more and to discover contractor accountants near you. How to choose a contractor accountant How to switch contractor accountants Switching from a general accountant to a specialist Seven reasons to choose a limited company when contracting Switching from Umbrella to a Limited Company Orange Genie Accountancy Orange Genie Accountancy Overview Orange Genie Accountancy specialist vs high street accountant Why choose us? Compliant Accountancy Services Can I do my own accounts? Limited vs Umbrella Reasons to switch accountant and how to choose one: Download our free guide >> Contractor accountant fees Your contracting business is unique, and your accountancy package needs to meet your specific needs while giving you value for money. It’s also important to know the cost upfront, so there are no nasty surprises later on. That’s why Orange Genie Accountancy offer three different fixed-fee packages, so you can choose the best one for your needs. You’ll also have the chance to reduce your costs and even earn free accounting for life with our unique referral scheme. Common questions about contractor accountant fees: How much do accountants charge for contractors? Most specialist contractor accountant charge a monthly fee. Fees can range from around £75 up to £150 per month, depending on the firm you choose and the level of service you’re looking for. Care should be taken when comparing prices, as the services included vary as much as the fee. Choosing the cheapest monthly fee could leave you paying extra for additional services later on, so make sure everything you need is included before signing up. How much does a contractor accountant cost for taxes? If you’re just looking to engage a contractor accountant to complete your self-assessment tax return and you intend to otherwise “go it alone” you can expect to pay upwards of £150 plus VAT for this service, depending on how complex your return is and how much time it takes your accountant to complete. However, advice and guidance from a good contractor accountant can make a significant difference to your success as a contractor, and we strongly advise that you engage one on an ongoing basis. Contractors & freelancers monthly services Sign Up to Orange Genie Accountancy Orange Genie Accountancy Setting up your limited Company Company Closures Sole Traders IR35 IR35, also known as the intermediaries legislation, is concerned with whether you’re in business on your own account, or whether you’re a “disguised employee” based on your relationship with your end client. If you’re “inside” IR35 you’ll pay broadly the same tax as an employee would, and this can have a significant effect on your income. Assessing IR35 status can be very complex, and it’s important that you know and understand your correct status. What is IR35? IR35 Glossary Private Sector IR35 reform: what contractors need know Private Sector IR35 reform: how-contractors-can-prepare IR35 Reviews with Bauer and Cottrell Contract status questionnaire IR35 help & advice The Importance of a Professional IR35 Review What contractors need know about IR35 Determining your IR35 status How contractors can influence IR35 decision Dust off your contract make sure your IR35 status correct Understanding fee payers deduction Attempting to influence the Public Sector IR35 decision What every contractor needs know about IR35 April 2021 IR35 reform and how to protect yourself A Contractor’s Guide To IR35: Download Now >> Extracting funds from a Limited Company You may have considerable flexibility in how you extract money from your limited company and it’s up to you to decide. It’s important to align your strategy with your particular situation and goals and it isn’t always just about paying as little tax as possible. What’s the most efficient way to take funds out of your company? How to extract funds from your company Tax planning 2021-2022 How to choose a tax efficient salary Factors to consider when setting your salary The implications of being Inside IR35 Is it wise to build cash reserves in your business? Paying family members through your limited company Drawing monies from your company Pensions Investments Wealth Management A Contractor’s Guide to Choosing a Tax Eﬃcient Salary 2019/20 : Download Now >> Expenses As a director of your limited company, there are a wide variety of expenses that you might be able to claim, and these can have a significant effect on your take-home pay. However, the rules can appear arbitrary and confusing, and claiming incorrectly can leave you in trouble. It’s important to understand the rules that affect your expenses claims, so you can ensure you stay compliant without missing opportunities. Business expenses Claiming expenses Company cars Common questions contractors ask about travel expenses Claiming for phone calls and broadband costs Limited company expenses pitfalls to avoid A guide to expenses Business Insurance A Contractor’s Guide to Claiming Business Expenses! Download Now>> FreeAgent All our clients use FreeAgent’s award-winning Web-based software because it makes it easy to stay up to date and allows us to give the best, most timely advice. Track and update your finances, anytime, anywhere, from any device. Mission control for your business Stay on top of cashflow with FreeAgent Quick and easy invoicing with FreeAgent Simple expense tracking with FreeAgent Introduction to FreeAgent mobile How to create and manage projects with FreeAgent How to set up a bank feed with FreeAgent How to record a mileage claim with FreeAgent How to record an expense with FreeAgent How to create and send an invoice with FreeAgent Accounting knowledge hub Welcome to our Knowledge Hub, the best place to come for information about contracting, accounting and tax. You’ll find online guides, tutorial videos and detailed PDF guides on a range of important topics. Downloads Resources Get Started with FreeAgent Starting & Running your business Taxes You will have separate personal tax liabilities to your company, and both will require your input and attention. Understanding these liabilities, how to plan for them and how to legitimately minimise them is crucial to your success as a contractor, and your tax planning strategy should reflect your particular situation and goals. Fortunately, your Orange Genie Accountant will be on hand to guide and advise you. UK Tax System A guide to UK taxation & National Insurance Tax & Legislation Tax Topics & Videos Self Assessment Self Assessment Tax Returns Self Assessment Tax Planning P11D’s Drawing monies from your company What is the most efficient way to take income out of your company Company Cars Pensions Investments Ever decreasing mortgage interest relief Corporation Tax Corporation Tax Director’s Loans: Pitfalls Contractors Should Avoid VAT Setting up a limited company & VAT Contractors: Are You on the Correct VAT Scheme? The Flat Rate VAT Scheme Are you Ready for Making Tax Digital for VAT? Capital Gains Tax Capital Gains Tax Closing Solvent Company Inheritance Tax Inheritance Tax Inheritance Tax - Small Gifts A Contractor’s Guide to Year-End Tax Planning! Download Now >> Request a Call Back from Orange Genie If you would like to find out how Orange Genie could help you. Please fill out the form below and one of our new business team will be in touch. First name* Last name* Email address* Phone Number* Time preference - Please Select - Morning Afternoon Evening Agency Consultant's Name www.orangegenie.com needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at anytime. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy. 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