Why FinBridge Advisors is Your Ideal Tax Partner
Personalised tax support
Get tailored strategies from experienced accountants in UK to manage your tax obligations effectively. Our expert contractor accountants help you navigate IR35 and other complex tax issues with ease.
Streamlined bookkeeping
Automate invoicing, expense tracking, and bank reconciliation with ease. With the support of an accountant for contractors, you'll spend less time on paperwork.
Comprehensive tax filing
Ensure timely and precise tax returns. We handle everything from Income Tax to VAT, ensuring full compliance with HMRC regulations.
Year-round planning and optimisation
Leverage continuous tax planning to minimize your tax liabilities. Our data-driven approach ensures you make the most of every opportunity.
Timely tax reminders
Never miss a tax deadline again. Our automated reminders, paired with expert accountants for IT contractors, help you stay ahead of key dates.
Regular reviews
Benefit from periodic financial reviews. We help you stay on top of your finances, identify potential issues, and maximize your tax efficiency.
Insights on IR35 for Contractors
IR35 is a critical piece of legislation designed to tackle tax avoidance by identifying “disguised employees.” These are individuals working through their own limited companies but operating as employees for clients. If caught under IR35, contractors face significant financial implications, including higher tax liabilities and reduced take-home pay.
How IR35 Affects Contractors
Determining Employment Status
IR35 assesses whether a contractor’s relationship with a client mirrors that of an employee. Key factors include control over work, financial risk, and mutual obligations.
Financial Impact
If deemed inside IR35:
- - Contractors pay income tax and National Insurance contributions (NICs) similar to employees.
- - No tax-efficient benefits like dividends are allowed.
Who is Responsible for Compliance?
For private sector contracts
Contractors are responsible for determining their IR35 status unless working with medium or large businesses, where the client makes the determination.
For public sector contracts
The responsibility lies with the client or agency.
How FinBridge Helps Contractors with IR35
Contract Review Services
- - Expert accountants for contractors analyse your contracts to assess and strengthen your IR35 position.
- - Advice on revising terms to reflect contractor independence, such as flexibility over work location and methods.
IR35 Status Determination
- - Assistance with understanding client-determined statuses and challenging inaccurate assessments through HMRC’s Check Employment Status for Tax (CEST) tool or appeals.
Proactive Tax Strategies
- - If you fall inside IR35, our team of contractor accountants help optimise your tax structure to minimise liabilities while remaining compliant.
- - Guidance on maintaining accurate records and evidence to demonstrate independence in case of HMRC inquiries.
Legislative Updates
- - Ongoing updates on IR35 changes and how they impact contractors across different sectors, particularly in IT, engineering, and construction.
With FinBridge’s expertise, contractors can navigate the complexities of IR35 with confidence, ensuring both compliance and financial efficiency. Let us protect your contracting business from unnecessary risks and penalties while helping you achieve long-term success.
Discover how easy tax compliance can be. Try us today
Here’s what our clients love about us / Here’s the difference FinBridge has made / Hear from our clients
Highly recommend Finbrige Advisors for Self Assessment Help in the UK!
As someone new to filing a Self Assessment tax return in the UK, I was feeling overwhelmed and unsure of the process. Thankfully, I found Finbrige Advisors Limited. Their team was incredibly... read more
Deepak
My circumstances were time-constrained so they endeavoured to push through the work very quickly, working weekends to get this done. I was a little concerned about how all the reviews seemed too overly positive given the lower price point, but honestly, they nailed it. I'll 100% be using them again in the near future. Outstanding work gentlemen.
William Neep
I needed an accountant for my limited liability company for the first time. Finbridge Advisors Limited and its team have done a really great job filling for the business, corporation tax and tax returns (business and personal). The team are always available to help. Thank you Frinbridge for your services.
Melzah Company Limited
I found the best accountants at Finbridge Advisors. We collaborated very easily, they took care of all my documentation very quickly and the result was brilliant.
They also submitted all the documentation with HMRC and sent me an email with all the confirmations received... read more
Mariana
Finbridge advisors have been extremely helpful to me for providing guidance, advisory and support to interpret and understand the UK taxation and best options to do tax planning.
The best part of their consulting was that the time was available... read more
Priya Sarda
Outstanding throughout with communication while navigating my financial affairs and tax return for my business. I’d highly recommend FINBRIDGE Advisors Limited when handling finances.
Alicia Calascione
A friendly group of professionals. Especially communication and response time is excellent.
Thomas
Finbridge went above and beyond for my business. After 3 years of a bad accountant and running up debts of thousands through no fault of my own.
Finbridge calmly helped me back on track, and clear the debt with HMRC The biggest compliment I can give... read more
Robert Thomas
I connected with Finbridge through my Friend for my Tax returns and right from the first meet till the Tax refund to my account their services were excellent. Infact i could say that they made things possible which i thought not possible at all. So professional in their work and ready to answer any queries we have... read more
Amarnath
I know nothing about tax, apart from if I don't pay it, I get in trouble! I know even less about CGT, especially as mine had some complexities to it.
FinBridge Advisors were recommended to be by a colleague who was also in the same situation, knowing little... read more
Luke M
FinBridge supported on my EIS tax claim. For a reasonable fee they sorted my tax return for two financial years, answered a fair number if my questions and we're patient as I went through the process if collating and sharing the various documents required to put my tax return together accurately... read more
Ben Williamson
Join us now. It’s easy!
We can have you all set up in just in three simple steps…
1
Get a quote/ Discover your price/See how much you’ll save
Fill out a few details and we’ll tell you what you will be paying
2
Register yourself
It doesn’t take long but helps us serve you better
Meet your accountant
We’ll set everything up and assign you an accountant
Switching Accountants? No Problem
Transitioning accountants doesn’t have to be disruptive.
Our team ensures the seamless transfer of your financial records. From data migration to HMRC liaison, we streamline the entire process so that you can focus on growing your contracting business.
Customise services to your needs
Pay for what you need.
Our core packages cover essential accounting services with the option to add on. You can add services like bookkeeping, VAT, and payroll, only if you need them.
Set up your Contracting Business with confidence
If you’ve questions about setting up your contracting business, we can assign an expert to guide you through the process ensuring all best practices are observed.
FAQ
Why do contractors need specialised accounting support?
Contractors face unique financial challenges compared to traditional employees. Managing finances, taxes, and compliance independently requires careful planning, as contractors are responsible for their tax obligations and often have to handle VAT, corporation tax, and income tax complexities. Partnering with an experienced accountant for contractors ensures compliance, minimises tax liabilities, and optimises financial health.
How can FinBridge Advisors help me manage my tax obligations as a contractor?
FinBridge Advisors offers expert guidance tailored to contractors, helping you navigate tax deadlines, allowances, and deductions effectively. Our services include corporation tax, self-assessment, VAT, and guidance on IR35 compliance. As trusted contractor accountants, we ensure you take advantage of all tax reliefs available, keeping your finances in order and your tax liabilities minimised.
What is IR35, and how does it affect contractors?
IR35 is a set of tax regulations designed to identify "disguised employment," where contractors operate as employees for tax purposes but work through their own limited companies. If caught under IR35, contractors could face higher taxes and reduced take-home pay. FinBridge Advisors can help determine your IR35 status, advise on compliant practices, and minimise the risk of penalties. For specialised support, we also offer services as accountants for IT contractors, ensuring your unique needs are met.
Can FinBridge Advisors help with setting up and managing a limited company?
Yes, we assist contractors in setting up and managing limited companies. From incorporation and registration to handling ongoing accounting tasks, FinBridge Advisors supports contractors at every stage, ensuring your company operates efficiently and complies with all legal requirements. We also advise on whether a limited company structure is financially beneficial for your contracting needs, offering insights as experienced Xero accountants.
What are the benefits of having a dedicated accountant as a contractor?
Having a dedicated accountant simplifies financial management and ensures compliance with ever-changing regulations. FinBridge Advisors provides tailored advice to optimise your income, streamline tax processes, and plan effectively for the future. Whether you need an accountant for tax returns or a reliable partner for your day-to-day financial tasks, we ensure contractors can focus on their work while we handle the complexities of financial and tax obligations.
We Love To Hear From You
Please call or email us with your queries and we would be happy to assist you.
