Contractors in Nottingham
What are Contractors?
An independent contractor (also referred to as a freelancer or consultant) is someone self-employed who carries out work for you. Typically, they’ll be contracted in for the specialised knowledge or skills they can provide for a defined period of time to work on a specific project.
Why Businesses Use Contractors
Many businesses choose to hire contractors rather than permanent employees for certain roles or projects. Hiring contractors can be more cost-efficient, especially for special projects or processes not carried out on a day-to-day basis.
While contractors can cost more per hour or project, they can still cost businesses less than hiring a permanent employee. With contractors, businesses don’t have to cover payroll costs such as payroll taxes, vacation, retirement or insurance benefits.
Hiring contractors also gives businesses a chance to bring in individuals with specialist knowledge who are pre-qualified for safety-critical tasks. Different projects may require individuals with different skillsets, and contracting offers businesses the freedom to hire the specialists they need when they need them. Choosing the best person for the job can result in higher levels of efficiency and increased profitability.
Benefits of Contractors
What are the Benefits of Contractors?
A Specialized Skill Set
Contractors can bring skills and talent to the organisation that you may not need to access on a day-to-day basis.
Less embedded in the organization, contractors may be able to bring a more objective view to projects and provide some constructive challenge to processes, helping you to improve.
Working with highly skilled specialists, who’ve had a lot of different experiences and insights from within their industry might help you to gain a competitive edge.
If you find that the contractor you’re working with doesn’t quite have the skills to meet your current need, there’s more flexibility around issuing notice and terminating the relationship. Essentially, it’s far easier to replace them with someone more suitable, than if they were an employee.
Less Obligations As An Employer
You won’t be obliged to continue supplying work and paying contractors if demand in workload reduces, or if their circumstances change. For example, if they want to take maternity or shared parental leave, you wouldn’t have to keep the role open for them or make statutory payments.
Good For Urgent Or Temporary Work Demands
If you need help fast, someone with specific skills who is ready to do the job can be a great help. They won’t need to have an induction, get to know the business or undertake any training, they’ll be able to get stuck into the work right away.
How can Seagrave French help you?
How can Seagrave French help you?
Please contact us if you would like a free consultation to discuss the tax advantages of contracting in more detail and the different possible scenarios.
We offer all-inclusive services for contractors including…
- Company formation;
- Annual Accounts;
- Company tax returns;
- Personal Tax Returns;
- Company secretarial service;
- VAT Returns;
- PAYE Returns;
- Tax computations;
- Review of contracts for IR35 status;
- Provision of anti IR35 draft contracts;
- Dealing with IR35 disputes.
IR35 is a set of tax regulations that were introduced by the UK government to tackle the issue of “disguised employment”. The rules apply to contractors and freelancers who work through their own limited companies, but who would be considered employees if they were engaged directly by their clients. In essence, IR35 aims to ensure that these contractors pay the same amount of tax and National Insurance contributions as regular employees.
At Seagrave French, we also specialize in providing IR35 contractor services to businesses across a wide range of industries. Our IR35 contractor team are experts that has a deep understanding of the IR35 regulations, and we can help businesses navigate this complex area of tax law with ease.
We offer a range of services to IR35 contractors, including:
Compliance support: Our IR35 contractor team can provide guidance and support to ensure that your contracts and working practices are IR35 compliant. Our IR35 contractor can help you to identify any areas of risk and provide solutions to mitigate these risks.
Tax planning: Our IR35 contractor team can help you to structure your business in a tax-efficient way, so you can keep more of your hard-earned income. Our IR35 contractor team can provide advice on issues such as dividends, expenses, and pensions, to ensure that you are making the most of the tax allowances available to you.
Payroll services: Our IR35 contractor team offer a comprehensive payroll service that ensures that your tax and National Insurance contributions are calculated and paid correctly. Our IR35 contractor team can also handle all of your tax and compliance reporting obligations, so you don’t have to worry about anything.
Business support: Our IR35 contractor team can provide ongoing business support to help you grow and scale your operations. Our IR35 contractor team can provide advice on issues such as business planning, financing, and marketing, to help you achieve your goals.
Our I35 Contractor Services
By working with us, IR35 contractors can benefit from:
Expertise and experience: Our IR35 contractor team has a deep understanding of the IR35 regulations and can provide you with the guidance and support you need to remain compliant at all times.
Cost savings: Our IR35 contractor team’s services are designed to be cost-effective, so you can keep more of your hard-earned income.
Flexibility: Our IR35 contractor team offer flexible services that can be tailored to your individual needs, so you can get the support you need, when you need it.
Peace of mind: By working with our IR35 contractor team, you can be confident that you are complying with all relevant tax regulations and are minimizing your risk of penalties and fines.
IR35 can be a complex and challenging area of tax law for contractors and freelancers. However, by working with our IR35 contractor team of experts, you can ensure that you remain compliant and are maximizing your income and opportunities. Contact us today to learn more about our IR35 contractor services and how we can help you achieve your goals.
Our I35 contractor experts are well-versed in the latest IR35 legislation, ensuring that your business is fully compliant while delivering exceptional results. With a commitment to transparency and communication, we work closely with our clients to understand their specific needs and tailor our services accordingly.
Whether you need a short-term contractor or a long-term solution, our IR35 contractor team has the expertise and experience to deliver results on time and on budget. Trust us to help you navigate the complexities of IR35 and take your business to the next level.
Whatever your ambitions, we will commit to them wholeheartedly and deliver the premium accountancy services you deserve. Get in touch today to book a chat with our chartered accountants in Nottingham at Seagrave French.