Being a freelancer is not easy and the director has to not only perform the duties required by their customer but as business owners they have to wear a number of hats. Some of these hats, managing finances and monitoring tax liabilities for instance, present freelancers with headaches and in some cases sleepless nights.
We see many horror stories where a company director is not properly advised during the year. He then draws too much money from the company and by the time he gets his accounts there is a large corporation tax bill on the immediate horizon, for which they have not been setting money aside. This is compounded where they have drawn dividends and the large personal tax bill that follows can be the final nail in the coffin for a lot of freelancers.
In light of the above it is no surprise why H M Revenue and Customs are unhappy about off-payroll workers.
We also see countless examples where freelancers are paying several thousand pounds to their accountant for little more than a set of accounts and a corporation tax return.
Well at Blackwell Bate we are proud to say there is another way:
We act for around 300 freelance companies and have developed our own bespoke in-house software ABACUS that keeps our clients informed of exactly where they are at all times. We process regular income and expenditure reports and our clients know how much they can draw out of their companies. Not only do we tell them the most they should draw but also how much to save back for corporation tax, VAT, PAYE and personal tax. This is delivered by text message and all the documentation is available in your secure GDPR compliant portal area to be accessed at their leisure.
We then take care of everything else: payroll, dividend paperwork, VAT filing, company secretarial work (including confirmation filing fees) accounts for Companies House and corporation tax computations for H M Revenue and Customs. Our clients know exactly where they are with their finances every time we process their income and expenditure and we ensure there are no surprises.
Yes but surely such an all-encompassing service will cost several thousand pounds? Well no actually we charge our clients a fixed fee of £125 plus VAT per month.
Get all of this for only £125 plus VAT per month:
- Book keeping
- Management reporting after each processing
- Text message reminders to send in receipts
- Registration for all company and personal taxes
- Payroll for one employee/director (including electronic payslips, P60’s and P11d’s)
- Dividend paperwork
- Updates on income tax position when dividends are voted
- Flat rate VAT scheme returns completed and submitted
- Self-assessment filing
- Annual accounts filing
- Corporation tax filing
- Tax safe so your fees are covered in the event of a tax investigation
- Unlimited telephone and email support
- Access to a partner, client manager and support staff team
- Regular text message notification of available funds to draw and money to retain for all taxes
- Access to all documentation via your own personal portal
- Confirmation statement filing (including £13 filing fee)
- We also have access to an in-house IFA and a provider of competitive insurance services
Know exactly where you are with your finances with Blackwell Bate. Use the form on our contact page to get in touch and start investing in a better future.