Limited Company Service (LCS)
Get professional support running your own limited company
- call 0800 195 3750
As a contractor you have the opportunity to take home more of your income each month, but it's important to make the right decision about how you achieve that aim.
Get it wrong and you could be facing a mountain of paperwork or even a fine from HMRC.
Get it right and you can enjoy higher returns and a life free of administrative stress.
ICS Accounting Ltd specialises in providing individual accountancy, tax advice and administrative services to professional contractors.
This section of our website is intended to help you make the right decision by providing you with clear and honest advice about your options. We also offer a free phone number – 0800 195 3750 – which you can call at anytime to speak in confidence with one of our specialist consultants or accountants.
We will never pressure you into making a decision, because we believe that presenting you with all the facts up front is much more likely to lead to a longer term relationship.
Limited Company vs. Umbrella Company
A limited company is often considered the most prudent option if you are outside of IR35 (although it can also be an option if you are within IR35), as in many cases you will take home a greater proportion of your income than through an umbrella company. This is because you can benefit from the Flat Rate Vat Scheme, lower National Insurance contributions, and the option to claim back tax on a broader range of business expenses.
In order to discover the best solution for you we strongly recommend contacting us for a discussion and an individual quote based on your specific circumstances. We offer a free IR35 status review, which may be useful in your decision-making and we would be happy to discuss your general contracting needs and requirements. Simply call our team on freephone 0800 195 3750 or email info@ics.me.uk.
Go solo or work with an accountancy company?
If you choose the limited company option then the first decision is whether to go it alone or work with an accountancy and administration company like ICS Accounting Ltd. The benefit of doing it yourself is there may be less to pay, but the downside is that you will have to grapple with mostly mundane and often quite complex paperwork and processes.
Many contractors choose to work with an accountancy company because it leaves them with the time to focus on their work and family life, without the need to worry about invoices, tax returns, IR35, professional indemnity and other matters that many think are best left to qualified accountants and administrators.
If your time is valuable and your interest in accountancy is limited then working with a limited company service provider is probably the right choice for you.
Which limited company service provider?
Almost any firm of local accountants can help you to set-up a limited company for a fee, but they will almost certainly not have the specialist knowledge required to ensure you are compliant with specific contractor legislation such as IR35 and MSC.
Every specialist provider offers a slightly different range of services and pricing structure. This can make choosing the right one difficult.
To help you decide we have detailed exactly what you get for your monthly fee with ICS Accounting on pages 4-6. We have also included a Frequently Asked Questions section at the end which we hope is useful.
Why ICS Accounting Ltd?
ICS is led by two guiding principles: care and compliance. We make sure we get the basics right – from ensuring you are paid the correct amount at the right time, to being available when you need any advice.
Our team of experts in employment and tax law includes a leading London QC and we are in regular contact with one of the 'Big Four' accountancy firms to ensure full compliance with all current regulations, including IR35 and MSC legislation
We offer a number of inclusive services that you may not find elsewhere, including free IR35 reviews and professional indemnity. Unlike some providers, ICS is run by chartered accountants with many years of experience in the contractor marketplace.
Benefits of choosing our Limited Company Service
- Free IR35 review
- Transparent charging structure
- Tax returns completed on your behalf
- Unlimited accountancy support from our qualified team
- Free independent confidential financial advice
- Direct dial helpline for any questions – call us free on 0800 195 3750
- Professional Indemnity Cover
- Comprehensive liability insurance for your company
- Business expenses compliance guidance
Next steps
Click here to submit details of your working status and we will promptly respond with how we can help you, or to learn more about our Limited Company Service, discuss your individual circumstances in confidence, and to request a free Personal Income Report please call 0800 195 3750.
Click here to read Frequently Asked Questions about our Limited Company Service. |
