• Limited Company set up and registration
• Referral to Company Secretary
• Provision of Company’s registered office
• Initial advice about IR35 and what it means to you
• Assistance with opening an HSBC Bank account
• Production of year-end accounts
• Annual Returns to Companies House
• Annual Self-Assessment
• VAT Registration & Returns
• Invoicing, payroll, and advising on PAYE/NI payments

Limited Company Structure

A Limited Company is a privately owned corporate vehicle which is usually set up to conduct a business. The Company has its own legal identity, separate from the people who own and run it. The owners’ liability for the debts of the Company is normally limited, hence its description as a Limited Company.

If you are a genuine independent contractor and your contract falls outside the IR35 legislation (see our section below on IR35 link to page) then setting up your own Limited

Company is often the best way to maximise your take-home pay and stay in control of your own finances.

Time is precious and we realise that the less time you spend on administration, the more time you have to enjoy a comfortable work/life balance. We can arrange everything you will need to set up and administer your own Limited Company.

You can become the sole Director of your own Company and you have full control over your finances. HFFS is there to support you and assist you in the success of your business.

Book-keeping

Administrative jobs involved in running a Limited Company, including book-keeping and preparation of annual accounts, can be left to us. We take an individual approach to your business, so we can deliver exactly what you need. From a little, to a lot – contact us now to discuss your requirements in more detail.

Corporate Returns – HFFS will ensure that all your statutory returns are taken care of.

Breakdown Calculator

Call us now and we can send you our calculator. This will allow you to enter your Company’s contract details to see what financial outcome you can expect.

Company Formation

We can register your Company within 24 hours and there is no upfront fee involved in setting this up for you, as we hope that you will stay with us for the duration of your time as a Director (there is some cost recovery if you don’t stay for a minimum period). This step includes:

• Guiding you in setting-up a business bank account
• Registering the Company for VAT and PAYE
• Completing all necessary legal documentation
• Issuing shares in the company at your direction

We complete all of the above within one week, to ensure that you are safely up and running as soon as possible.

Financial Services

As an individual employed by your own Company you can benefit from preferential mortgages, health insurance, pensions and other financial services. We have a trusting relationship with a group of IFAs which specialise in contractor services. Call us today or for more information on what we can offer, complete this Call Back form and one of our experts will call you back very soon. Arrange call-back

Payroll Preparation

While running your business through a Limited Company, the Company will pay you a salary. Unfortunately, the administration of a payroll can be stressful and time-consuming and leave you less time to do what you’re good at. With constantly changing legislation, compliance can also be challenging at times.

At HFFS, we ensure the proper administration of PAYE plus the completion of statutory payroll forms and submissions to HMRC. Whether you are the sole employee, or you are building your empire, we can remove your payroll burden.

Service Offering

HFFS offers the following services, but if you are looking for something you cannot see here please feel free to contact us and ask.

So, how do I get started?

By calling us now. HFFS can take care of all aspects of Company formation including registering your chosen Company name, registering for VAT, giving you the option of using our trusted banking partner and registering for Corporate Tax.

If you are looking for a specific name, a list of currently registered Companies can be found at www.companieshouse.gov.uk. You can use a name that is not currently in use.

And then?

You run your own business. This gives you the independence and flexibility to enjoy the contractor’s lifestyle. The added benefit of running your own Limited Company is that the Company can offset legitimate business expenses against income. All you need to do is keep receipts for legitimate business expenses and submit them along with our expense sheet, in order to maximise your tax advantages.

While you’re out there working, HFFS can assist in all the administrative jobs necessary to operate a Limited Company. Our associated chartered accounting firm, Hazlems Fenton, can offer you professional tax advice to help your business succeed.

VAT administration

Value Added Tax (VAT) is a sales tax collected by adding a margin to the price charged to a final customer. Your Company will pay VAT on purchases (Input) and also, charge it to clients (Output). Registering for VAT can benefit you in a number of ways, such as improving your cash flow by claiming back the 15% VAT incurred on business expenses and purchases.

We deal with both types of VAT - Output and Input. On a quarterly basis, the difference between the two is paid to HMRC as part of your quarterly tax return.