01235 867519

contact@JamesESmith.co.uk

Accountants for Contractors, Oxfordshire

Looking for genuine personal service and a competitive fee?

We offer accounting and tax services to contractors and freelancers in Oxfordshire and nationally. Our focus is on your individual needs, rather than pure data processing.

Not all contractors are the same, yet many of the larger contractor companies are strongly focused on automated systems rather than their clients.

Summary of services

Advice

  • Company structure
  • Day to day operations
  • Tax efficient drawings
  • Record keeping
  • IR35 and how to avoid it

Compliance services

  • Company tax
  • VAT returns
  • Directors PAYE
  • Personal tax returns

Accountants for Contractors

All this is underpinned by unlimited phone and email support, direct to the same Chartered Accountant.

We have the same personal relationship with our contractor clients, as we do with our general business clients.   This allows us to give good advice at the right time, not a generic response.

Working with us

Whilst you can call or email at any time, our main point of contact is your quarterly VAT returns.

further service details

Quarterly we will:

  • Check your record keeping
  • File your VAT
  • Discuss expense claims
  • Confirm dividends and salary payments

By having regular contact we can make sure any potential issues are picked up at an early stage and resolved quickly.

At the end of the year, we will:

  • Discuss your business in detail
  • Complete your statutory accounts
  • Compute your corporation tax
  • Set up director’s payroll payments
  • Prepare your director’s self assessment tax return
  • Assist with plans for the future
  • Supply a detailed letter explaining key points

This will normally happen in the month following your year end.  So you will quickly know how you are doing, what you can take out, what taxes are due and the payment dates, and generally plan for the future.

The year end process is a key part of our services to you and the sooner it’s completed the more useful it is.  We therefore try to prepare your limited company accounts within 2-3 weeks of receiving your year records.

Value For Money

On fees, charge a similar price to the larger contractor companies at £1,300+VAT per annum for a fully comprehensive service.

further fee details

This fee normally includes director’s tax returns, mortgage references and other things which are often a hidden “extra”.   We will discount our fees too, for example if your company is inactive for a period,  you have few transactions or are not VAT registered.

Price is easy to compare,  overall value is much harder.    Does your accountant build time into their  fees to consider your tax position carefully and use their experience to maximise your take-home pay?  This is the first thing lost in a cut price deal.

For more details about the transparency of our billing, see our fees page.

New to contracting?

We give wide ranging help to new contractors.

further details

Ideally talk to us before you form the company .  We will help you decide on the number of shares, the shareholders and the directors.  If you have already have a company, not to worry, but the earlier we speak to you the better. There is no initial fee for speaking to us about your plans.

Many a call to our office starts withI have just had an offer, I need to work through a Limited Company, and I start Monday.”   Fortunately we are here to help and can guide the novice through forming the Limited Company, learning how to run it properly and managing the day to day compliance.

The main formal process with new contractors is our “get you started ” service where we get everything set up and most importantly train you in how to run a company.

Get you started session

Our unique “get you started” service covers all aspects for those new to business for a discount fee of £375+VAT.

The aim of this is to:

  • Set up the paperwork and structure of the company
  • Set policies such as VAT and PAYE
  • Train you how to keep basic records, in your preferred method
  • Make sure you understand how the tax works
  • Ensure you maximise your income from the business

At the end of what is in essence a training session you will get a set of bespoke notes to refer to, along with the support to ensure smooth running of the company and a strong background knowledge to take your company forward with confidence.

We will then provide ongoing guidance during  your first few months, to help establish you in good practice regarding  billing, record keeping and other matters relating to the running of the business.

We want our clients to understand what they are doing.  It is surprising how many clients coming from other accountants know very little about their own contracting company and understandably feel rather confused.

Comparing accountants to contractor companies

What is the right type of service for you?

further details

A key choice for clients is whether to use a firm of Chartered Accountants like us, or one of the various technology-led contracting companies.

Contractor companies are great if:

  • You just want to get paid
  • Are happy using automated software
  • You have very simple circumstances

Accountants like us may be better if you want:

  • To maximise your take home pay
  • Choice of how to keep your records
  • Detailed advice about expense claims
  • Broader help in other tax areas
  • To harness the full potential of your Limited Company

The main feedback we get from clients who have joined us from large, software-driven contractor companies is that it’s a relief we build our services around you and your business, not the data.

Contracting with us

If you are new to contracting, an existing contractor unhappy with your current accountants, or coming back to it after a while in a PAYE role, the first thing to do is get in contact for a chat.

We can act for you if you are local to us in South Oxfordshire (we are located between Wantage, Abingdon, Faringdon and Didcot) or indeed anywhere else in Oxfordshire or countrywide.