The SAIL Business Solutions Ltd contractor accountant team specialises in helping our clients to set up and manage their own limited companies. Whether you are an IT contractor, finance professional, lawyer, social worker or heath professional, we have the experts to help you and a range of packages designed to meet all your requirements.
New Product – Multiple Shareholders and Employees
In order to take full advantage of the new dividend tax rules and National Insurance Employment Allowance why don’t you think about using our new Limited Company product allowing you to have multiple shareholders and employees in your company.
Why use SAIL?
We have a team of specialist limited company contractor accountants, dedicated to looking after your requirements. With fourteen years of experience we are perfectly set up to look after your needs no matter what industry you are in.
*Not included in No Frills Package
We have a range of packages to suit your requirements. From lower cost packages for those who are cost conscious to value added packages for professionals looking for that extra level of service. You can view our packages here.
How do I get started?
Please complete the contact us form and we will get hold of you to discuss your requirements.
Why use a Limited Company?
Limited companies generally offer contractors the most tax efficient way of working. They are often best suited for longer term contracts and those billing over a certain minimum amount.
Working under a Limited company banner can be very rewarding. You could in some circumstances take home up to 85% of your salary working through a Limited company. It is not suited to everyone as IR35 and managed service company legislation must be considered. However your SAIL Account Manager is here to help you to take full control of your finances offering you complete peace of mind.
Limited Company Advantages:
A limited company is a useful structure for a number of reasons:
- As a separate legal entity you have the ability to structure salary, dividends and other payments to make your take home pay more efficient
- You can deduct valid business expenses to reduce your corporation tax bill
- In some instances you can register and benefit from the Flat Rate Vat Scheme, enhancing your take home pay
- With planning you can benefit from other savings to improve your overall position
How much will I take home?
As a Limited Company this can depend on a number of factors, including whether you decide to register for the Flat Rate VAT scheme or not. You can speak with one of the SAIL team who will be able to get you started, or use our online calculator for an immediate indication.
Why use a Limited Company Contractor Accountant?
A specialist limited company contractor accountant provides several clear advantages:
- We keep up to date with changing legislative requirements so you don’t need to
- We take away the admin hassle of looking after your limited company
- We provide online access to your account and regular status updates so you can always see what is happening in your company
What are the risks?
The limited company structure is not for everyone and there are risks. These risks are manageable, but it often depends on the individual circumstances of a client. The main risks are:
- Your business practices or tax legislation changes to make the limited company structure less efficient
- Personal circumstances change e.g. you invoice a lot less than normal making it too expensive to run a limited company
- IR35 legislation applies to deem the limited company relationship one of employment requiring additional taxes to be paid
Please talk to one of our consultants if you wish hear more. We even have an IR35 Insurance type product to help you manage your risk.
Can I not do it on my own?
Limited company accounting and company secretarial administration is not without its statutory or regulatory pitfalls. It can also be quite an administrative burden. SAIL Business Solutions was started to remove this burden from contractors and allow them to focus on what they want to be doing while allowing us to focus on what we are great at.
The SAIL Online Portal enables contractors to easily manage and administer their limited company online. This is in turn supported by a professional firm led by qualified Chartered Accountants providing personal support, advice and fulfilment of all your accounting and tax requirements.