CONTRACTORS

PACKAGES

METRO CLOUD

£85 per month (plus VAT)

Self Assessment Tax Return and quarterly management accounts online. Real time dashboard to seehow your business is doing at a glance, on a phone, tablet or laptop.

METRO CLOUD ADVANTAGE

• Access your online account 24/7
• Track expenses
• Connect to your bank account
• Create and send invoices
• Automatic bank downloads
• Handle multiple currencies
• Manage Bills and payments

OTHER SERVICES FOR METRO CLOUD CUSTOMERS

• FREE Company set up and Business registration
• Own dedicated accountant to help you
• Monthly payroll
• HMRC submissions
• Self Assessment Tax Return
• Quarterly management accounts
• Quarterly VAT returns
• Periodic analysis of your circumstance and recommend solutions to increase your take home pay.
• Free of charge reference letters for banks (for loans and mortgages),embassies or the home office when required.
• Out of hours emergency services contact to suit contractors.
• Hassle free switching of accountants. We will deal with your ex- accountants and get all paperwork transferred.

METRO EXECUTIVE

£100 per month (plus VAT)

Bookkeeping via email (or post) – send all of your invoices/receipts etc via email or post rather than through our online accounts.

• FREE Company set up and Business registration
• Access to our online accounts 24/7
• Own dedicated accountant to help you
• Monthly payroll
• HMRC submissions
• Self Assessment Tax Return
• Quarterly management accounts
• Quarterly VAT returns
• Periodic analysis of your circumstance and recommend solutions to increase your take home pay.
• Free of charge reference letters for banks (for loans and mortgages),embassies or the home office when required.
• Out of hours emergency services contact to suit contractors.
• Hassle free switching of accountants. We will deal with your ex- accountants and get all paperwork transferred.

LIMITED VS UMBRELLA

As a self employed individual, you have the option of either creating your own limited liability company or working under an umbrella company. When you work through an umbrella company you are treated as an employee of the umbrella company and you receive a monthly salary after the umbrella company deducts its costs and charges. Although this may simplify the process, the income retention is only 60%-65%.

By working through your own limited liability company, you can keep as much as 80% of your earnings and you will be in complete control over your company’s finances as well as transactions. Plus, this is a more tax efficient option. For more details and consultation of forming a limited liability company, get in touch with our experts today!

LIMITED LIABILITY COMPANY

  • Funds are paid direct to your company
  • You make all decisions with regards to how your funds are utilised in the best interests of the company
  • Flat rate VAT scheme (this is not suitable for all contractors)
  • Taking part of your earnings as dividends
  • Utilising your payroll allowances
  • Saving up for your future through a pension

UMBRELLA COMPANY

  • Funds are paid to the umbrella company who then pay you a salary
  • You do not have direct control over the methods employed by the umbrella company over your funds
  • Some umbrella companies advice of various schemes and techniques to help you reduce your tax burden. Most of these schemes have been declared illegal by HMRC

EXPENSES

Understanding your expenses and categorizing them properly helps in preparing accurate tax calculations as well as finding opportunities in reducing tax liability wherever possible.
The following are the standard expenses which can be claimed by a contractor. However, it will vary on the individual circumstances. You can contact our team for detailed explanations.
– Travel
– Subsistence
– Telephone & Internet
– Membership & subscriptions
– Insurance
– Legal & professional charges
– IT Expenses
– Pensions
– Marketing
– Printing, postage & stationery
– Client entertainment

ARE YOU A CONTRACTOR?

Working as a contractor does bring its own benefits such as greater flexibility of work, increased income opportunities and being in control over every aspect of the business. However, it becomes even more important to keep track of your income and expenses.
Metro Accountants can help you to manage all finances and keep all documents updated so that you are able to retain a greater portion of your income and reduce your tax liability without violating any regulation. We will also help you to steer clear of IR35 by ensuring compliance with all policies.
Share your queries with us and our expert accountants will find the best solution suited to your specific needs.

NEW TO CONTRACTING?

Choosing the right accounting professional from the beginning is crucial for any business, especially for self employed contractors. We will help you along the way and walk with you till you are completely confident with it.
Our expert accountants are not only well versed in accounting with years of experience in providing custom solutions but also adept at understanding the specific requirements of the clients. We will guide through every step in contracting from face to face meeting with all clients, setting up a limited company, tax advice, legal compliance and registration for all relevant HMRC taxes.
With our advice and quality service, you can confidently pursue your contract work and grow your business without worrying about financial calculations ever again.

SWITCHING ACCOUNTANTS MADE EASY

Are you tired with current accountants and not sure what to do?
Don’t worry. We will get rid of all the hassles for you. Our team of expert accountants have years of experience in managing and devising custom solutions for businesses, contractors and self employed professionals. All you need to do is to authorise use to deal with your current accountants and leave the rest to us. You would not be required to do anything else.

For more details, get in touch with our consultants today!

Metropolitan Accountants

Phoenix Business Centre
Office 10, Rosslyn Crescent
Harrow, Middlesex
HA1 2SP
Call us: 0208 427 0878

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Metropolitan Accountants Ltd is registered in England with Registration No : 06933766 and VAT Registration No : 296 8356 42

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