Shops and IT Contractors

                              

 Shops and IT Contractors

Shops and IT Contractors- £12 pw

We cater this service package to retail shop owners and IT Contractors. We will take care of your accounting and taxation requirements.

Once you set up your company we will take care of the rest of the hassle of setting up your monthly accounts, filing self  assessment and annual accounts for you. We will make sure that your compliances are met and all the returns are filed before deadlines. All you need to do is send us your paper work by post or by email. At only £12 pw you can leave all the hassle to us and focus on your business. No extra charges

£12 pw

What is in the package?

Monthly Bookkeeping

Company Annual Return

Filing Annual Tax Return and accounts with HMRC

Filing Annual Accounts with Companies House

Self Assessment Tax Returns for one director

CIS

If your business is in construction or building trade and you are a contractor or subcontractor you will need to register with the HMRC. If you are a contractor you can register as a new employer. Under CIS, a contractor must deduct 20% from payments to sub contractors and pass it to HM Revenue and Customs (HMRC). These deductions count as advance payments towards tax and National Insurance bill for a subcontractor.

If you are a subcontractor then you can register with Construction Instruction Scheme (CIS) with you business name, national insurance number, unique taxpayer reference number (UTR) for your business, your VAT registration number. If you are both a subcontractor and a contractor then you need to register for both. If you are based abroad and do constructions work in UK, you will need to register with CIS. You must follow all the compliances in order to avoid a penalty.

Company

You can register as limited company if you want to add credibility to your business and protect personal assets. You will need minimum of one director and one shareholder, a company name and a registered office address. The Director can be anywhere in the world and the business can be operated from anywhere in the world.

Benefits of a limited company:

•             Personal assets of directors and shareholders are protected

•             Company name is protected, preventing anyone else from trading under the same name

•             Legitimate business expenses can be claimed against tax

•             The company is a separate legal person from the owners and can hold assets, including Intellectual Property under the company name.

£12 pw per month

Monthly Bookkeeping

Company Annual Return

Filing Annual Tax Return and accounts with HMRC

Filing Annual Accounts with Companies House

Self Assessment Tax Returns for one director