Contractors and subcontractors
Expert accountants for contractors and subcontractors in Weston-super-Mare
At PW John & Co accountants in Weston-super-Mare, Somerset we understand the appeal of working as a contractor or subcontractor. Managing your own workload provides the opportunity to have more control over both your career and your work-life balance. Plus there’s often a greater opportunity to boost your earnings.
However you may find the responsibility of managing your accounts, tax return and payroll time consuming or confusing. Which is why many contractors and subcontractors choose to hire an accountant.
Do contractors and subcontractors need an accountant?
It is not mandatory for contractors or subcontractors to hire an accountant. However, many find it more cost effective to hire an accountant rather than take time off of work to prepare their own accounts.
An accountant who is experienced in working with contractors and subcontractors will also keep you up to date with any changes in compliance – so you won’t have to worry about missing submission deadlines or incurring penalties.
We offer a variety of fixed rate accounting and book keeping packages tailored specifically for contractors and subcontractors. And our dedicated team of accountants are always on hand to deliver expert advice and support whenever you need it. We will work with you in any way that suits you – in person, on the phone or online.
Accounting for contractors
Most contractors are limited companies. All limited companies must file company accounts every year, regardless of whether your company is active or dormant. If trading you must also submit a corporation tax return. If your business has employees you will need to run monthly or weekly payrolls and submit real time reports to HMRC.
Our expert accountants can assist contractors with:
- Company incorporation
- Annual accounts and corporation tax return
- Company secretarial services
- Book keeping
- Tax planning
- VAT
- Payroll
- Finance or growth strategy
Accounting for subcontractors
If you have not already done so, you will need to register with HMRC, both to be self employed and to be a subcontractor.
Our experts accountants can assist subcontractors with this and much more;
- Annual accounts and self-assessment tax returns
- Book keeping
- Tax planning
- VAT
- Payroll
- Finance or growth strategy
If you are already registered as a limited company and are working as a subcontractor, you will still need to register as a subcontractor. Contact us to find out more.
CIS and subcontractors
If you are a subcontractor in the building industry, or a contractor who hires subcontractors in the building industry, you may also have to comply with the Construction Industry Scheme (CIS).
Find out more about reduced rated VAT for construction.
Contact our team of accountants in Weston-super-Mare, Somerset
Please contact us to find out how our expert contractor accountants could help you. Or book a free consultation to discuss your requirements in more detail.
We look forward to hearing from you soon!
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