Pay less tax:
Start a limited company
It could be time to move on from umbrella...
Get us to contact youDo you earn more than £200 per day?
If yes, then setting up a limited company is most likely the most tax-efficient way to structure your business. We want you to take home more of your hard-earned money. If you currently use an umbrella company we can help you switch to a limited company so you can reduce your tax bill.
Comparison of take-home pay:
Ltd company vs umbrella
| Daily rate | Ltd Co (net pay p/a)* | Umbrella (net pay p/a)* | Using a limited company you save: |
|---|---|---|---|
| £ 200 | £ 36,051 | £ 31,722 | £ 4,329 |
| £ 300 | £ 51434 | £ 44072 | £ 7362 |
| £ 400 | £ 63463 | £ 55285 | £ 8178 |
| £ 500 | £ 75491 | £ 66497 | £ 8994 |
NB: The Ltd Co figures incl. provision for accounting fees of £1,300 p/a.
*2017 - 2018 rates. Illustrative amounts. Individual amounts and special circumstances will affect the actual figures.
The advantages of a limited company structure over umbrella
- Tax efficiency / better take-home-pay
- Increased earnings potential
- Potential to grow an actual business, like a consultancy
- Allows you to provide services to multiple clients
Setting up a limited company in the UK is simple
Slash your tax bill
Minimise the risks of limited company contracting by partnering with a firm possessing over 20 years' experience. With accounting service packages starting from only £66 p/m (incl. VAT) you're just a few clicks away from tax-efficiency.
We offer three accounting packages. Each package includes a comprehensive service to take care of your limited company requirements, from start to finish.
- Face-to-Face: Meet your dedicated accountant on a regular basis
- Standard Online: Communicate regularly with your dedicated accountant online; telephone, email and our client portal
- Basic Online: Use Sage One online to link your bank account, enabling us to offer a low fee service.
See a detailed breakdown of our accounting packages
| All fees quoted exclude VAT | Basic Online* | Standard Online* | Face-to-face* | Pay-as-you-go |
|---|---|---|---|---|
| Monthly fee
(non-VAT registered) | From £55 | From £94 | From £102 | |
| Monthly fee
(VAT registered) | £65 | £110 | £127 | |
| Company set-up | £100 | |||
| Assistance with bank account | ||||
| Initial consultation | Phone | Phone | Face-to-face | £150 |
| PAYE scheme set-up | £50 | |||
| Employee payments schedule | £80 | |||
| Registered office for contractors | £180 p/a | |||
| Quarterly financial "health check" | Phone and email | Face-to-face | £350 | |
| Quarterly bookkeeping | £350 | |||
| Dedicated accountant | ||||
| Financial accounts | £650 - £1,000 | |||
| Payroll returns (monthly RTI) | £20 p/m | |||
| Annual confirmation statement
(excl. £13 Companies House filing fee) | £20 | |||
| VAT returns | £350 per VAT return | |||
| VAT and Flat Rate VAT registration | £50 VAT and Flat Rate VAT registration | |||
| Personal tax | From £140 | From £140 | From £140 | From £140 |
| Company closure | From £150** | From £150** | From £150** | From £600 - £1200 |
| Reference letters (visas/mortgages etc.) | From £75 | From £75 | From £75 | From £75 |
| Interim accounts (for visas/mortgage etc.) | £200 - £450 | £200 - £450 | £200 - £450 | £200 - £450 |
| Other administrative requirements | Quotes available on request | |||
** The fees quoted here are a guide only. They are based on the estimated time it takes to complete work and so they are subject to change. We will always notify you of the actual cost of the service.
Interested? Complete our form to get started!
For your peace of mind
We are Sable International, a specialist outsourced bookkeeping, accounting and financial management practice for businesses, private individuals and contractors. Along with being regulated by all the appropriate bodies in the UK, we are also an associate member of the Freelancer & Contractor Services Association (FCSA).
This means that we:
- Do not operate an offshore scheme
- Do not operate a contractor loan scheme
- Agree with their charter
This is just another way that we ensure you will always have peace of mind when you use our contractor accounting services.
In partnership with Sage One UK | Accounting Software for small businesses
Accounting software for start-ups and small businesses from Sage, the UK's leading business software provider.
