» Fully Managed Accounts (FMC)
» Construction Industry Scheme (CIS)

We provide the following Limited Company services:

• Annual Company Accounts - basic price £300 (What you need to bring)
• Closing Company Accounts - basic price £300 (What you need to bring)
• Self-Employed Accounts - basic price £150 - £200 depending on turnover
• Off the shelf Companies - basic price £100
• Company Secretarial Service - basic price £50
• Registered Office - basic price £100
• Employers Annual Return - basic price £50
• Companies House Annual Return - basic price £50
• Personal tax for Directors of Limited Companies - basic price £50

Working through your own limited company is still the most tax efficient option if you are in the construction industry.

Recent legislation (commonly known as IR35) does not in any way prevent anyone from having their own limited company - it only changes the rates of tax you pay depending on whether or not you pass the self-employment tests.

If you fail the self-employment test then your pay personal rates of tax on your income -if you pass the self-employment test you are able to deduct company expenses and pay corporation tax rates. Workers in the construction industry pass the self employment test for the following reasons:

• In most cases you provide your own tools.
• You work on site - not at an employers address.
• You have a number of different jobs throughout the year.
• In most cases you have a right to substitution - i.e. you can bring in some one else to do the job if necessary.
• You have control over how the work is to be done
• You are paid for the job done not through wages or salary.

Advantages and Disadvantages to working through your own Limited Company

Advantages

• Your cash in the hand is increased by 10% due to the fact that your employer no longer has to pay employers national insurance.
• You end up paying less tax. On an annual turnover of £25 000 you can expect to pay about 15% tax. The same amount of income working PAYE would incur about 26% tax.
• You can defer paying your tax for up to 10 months.
• If you are being deducted 18% at source you are going to get a refund.
• It is cheaper to administer than a composite company. A typical composite company will charge you 5% of your income.

Disadvantages

No holiday or sick pay.

• Administration of the company, which among other things involves:
• Setting up a company bank account
• Submitting companies house forms
• Submitting Inland Revenue forms
• Producing statutory financial accounts for Companies House and Inland Revenue.
• Fortunately for you, ALL TAX UK provides a service called Fully Managed Companies, which means we take care of all the administration of your company leaving you free to go out and earn the pounds or go travelling