Specialist accounting for contractors, locums and freelancers
MAH, Chartered Accountants has the infrastructure, knowledge and expertise to provide accounting and tax services for contractors, freelancers and locums, whether self employed or limited companies, and it is one of our key specialities.
MAH can take responsibility over the business finances and administration in any manner, allowing you to focus on other tasks to drive the business forward.
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We can provide the following services:
Tax return, both corporation tax and personal self assessment
Regular management accounts
Monthly payroll / dividends
VAT returns, including advice on flat rate scheme
How it works:
1) We understand you
We would obtain a detailed understanding of your specific circumstances and how you operate, especially so that we can check if all transactions have been captured and correctly treated in the accounts/tax and also whether there is any scope for different interpretations depending on your business and industry.
The process would then be tailored for your individual needs.
2) Send us the information
You may wish to provide us with all your invoices and bank statements on a regular basis, and let us take care of it all.
Alternatively, you may decide to do the bookkeeping and send us spreadsheets/reports or give us access to your accounts package. We would then perform a detailed review to ensure transactions have been correctly treated and to make any suggestions for improvements, based on our understanding of your business and your industry. We may also request further information or copies of source documents such as invoices or bank statements as necessary.
3) Wages vs dividends
If you have a limited company, we can devise a tax efficient strategy for salary versus dividends using a model that we have created, and also advise on other options such as using a directors loan.
See also our free expert guide to Wealth Extraction Strategies for companies which covers directors loans, management fees, salary vs dividends and much more.
4) VAT returns & regular analysis/management accounts.
If required, every few months we can also use the information to prepare the VAT returns.
We could also prepare monthly/quarterly management accounts and talk you through the figures to identify key trends and discuss any scope for improvement. We can also help with forecasting and planning for the months ahead.
5) Annual accounts and tax returns
At the end of the year, we can take the information already provided and prepare annual accounts and calculate the tax position for both the company (if applicable) and self assessment for income tax.
Get in touch for a free no obligation consultation
If you’re looking for expert advice specific to contractors, freelancers or locums, click here to contact MAH, Chartered Accountants, or call 020 7100 3610, for your free initial no obligation consultation.
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