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Success Masters Limited

Accountant in United Kingdom

Home CIS Accounting

Contractors Accounting

We are providing accounting services to contractors from NHS, IT, CONSTRUCTION, FINANCE, LEISURE and HOSPITALITY sectors.

We specialise in contractors accounting and can help you to set up your business in the best way possible. We can help you to incorporate your company, register for Self Employment, file VAT returns, process payroll, and file the returns.

Thinking of Contracting for the first time?

Are you thinking of moving from permanent employment to contracting or freelancing, then please stop for a moment and consider your options.

In particular, you need to set up your new business in the best way possible whilst making it easier for your customers to deal with you.

Which expenses can be claimed as a contractor working through a limited company?

If you’re a contractor working through your own limited company and are outside IR35 then life is very simple. HM Revenue and Customs rules state that expenses can be claimed provided they are wholly and exclusively for the purposes of your business. This means you can claim things like: company formation fees, accountancy fees, business travel and accommodation, postage, stationery, telephone calls, employer’s N.I. contributions, subscriptions, insurance, contributions to an executive pension plan, business entertainment etc.

Remember! You must be able to provide evidence that you actually incurred the expenses if HM Revenue and Customs ever ask you; this is usually achieved by keeping receipts.