Limited Company Accounting Services for Contractors
£109 + VAT per month
Our Solo Ltd Package is designed for limited company contractors and freelancers who need fast, dependable, knowledgeable accounts support at an affordable price.
Why Choose Bright Ideas Accountancy?
Here at Bright Ideas, we’ve worked with many contractors and freelancers over the years, helping them stay on the right side of the taxman, whilst ensuring they maximise their take home pay. So, it’s safe to say when it comes to accounting for contractors, we’re experts.
Our limited company accounting package is fully comprehensible, there are no hidden fees meaning you won’t have to pay anything extra until the company structure changes (more info on our upgrade services is available at the bottom of this page).
Our accountants take care of all the calculations, preparations and submissions for you. We also provide a same-day response service for Solo Ltd Package subscribers; replying to any emails or calls received before 4pm Monday to Friday.
What is a Limited Company?
A limited company means that the business and personal finances of the owner are separate. The term “limited” refers to the limited liability of the shareholders (or owners), meaning they will only be liable for the amount they have invested into the company and will not be personally liable for any debts the limited company has.
Do All Contractors Need to Set Up a Limited Company?
The short answer to this question is no, however most contractors will find that operating through a limited company will be the best solution. Having your own limited company will, in most cases, be the most tax efficient option, whilst giving you complete control of your finances.
By operating as a contractor through a limited company, you can reduce both your tax and national insurance liabilities with a combination of a low salary and high dividend pay structure. By using a specialist accountant for contractors, like Bright Ideas, you won’t need to worry about need to worry about the financial side of things, let us take care of that and you can focus on your work.
What Should You Look for in a Limited Company Contractor Accountant?
There are a variety of accountancy services available for contractors, however you should always expect to see the following accounting services included in the package:
- Company Incorporation (if needed)
- Payroll & RTI
- Additional Employee Payroll & RTI
- End of Year Accounts
- PAYE, VAT & Corporation Tax Registration
- VAT Returns
- Your own dedicated accountant
At Bright Ideas, you’ll receive all this plus free access to award winning accounting software FreeAgent.
£109 + VAT per month
What do I get with the Solo Ltd Package?
For a fixed fee of £109 per month + VAT you receive:
Free company incorporation
Yearly annual return preparation
Annual accounts preparation & filing
Quarterly MTD-compliant VAT return preparation & filing
Company tax return preparation & filing
Monthly subscription to FreeAgent included - and user tutorial for no extra charge
Your own dedicated accountant and tax adviser
Unlimited personal support by phone and email
Annual company P11D and employee P60s
Unlimited secretarial services
Unlimited IR35 contract reviews and working practice advice
Acting as agent with HMRC for both director and the company
Personalised tax planning for the director
Ongoing tax advice for the company
Quarterly bookkeeping health checks
Director self-assessment tax return
One mortgage & income reference per year
Monthly payroll for one employee including RTI return filing
Package upgrade options
If you’d like to keep your address private or the structure of your business changes, you don’t need to change your subscription completely. Simply register for our additional Solo Ltd Package services…
These extras include:
Registered office and address service - £10 per month
Additional employee payroll - £5 per employee per month
Additional self-assessment - £10 per month
Dormancy service; after a period of 3 months inactivity we reduce the monthly fee to £50+VAT covering all NIL returns
Need a complete accounting solution? Get in touch with Bright Ideas to learn more about our Solo Ltd Package.
£109 + VAT per month
FreeAgent at no additional cost
All Bright Ideas clients get automatic access to FreeAgent – the UK’s #1 small business accounting software. Used by more than 60,000 freelancers, contractors, and small businesses, it helps to improve efficiency and ensure compliance with Making Tax Digital.
FreeAgent is HMRC-compatible, incredibly user-friendly, and can be used from any device at any time. It provides a full overview of your business performance, income, and profitability, as well as many other features.
- Cash-flow monitoring dashboard
- Estimate and invoice tracking and creation
- Direct tax return submission to HMRC
- Automatic generation of VAT returns
- On-the-go expense recording and management
- Direct connection to bank accounts
- Smart timesheets
Looking to Switch Accountants?
Does your current accountant give 1-to-1 support? Are they fast and thorough?
Slap-dash services hold businesses back, so try our expert accountants instead. We make the transition simple, get in contact with us today and we’ll start the process.
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0161 669 4221
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