who we help

Cowie & Co. Services for

Contractors

1. Limited Company Formation and Management. Many contractors choose to operate through their own limited company. We assist with the incorporation process, ensuring your company is set up correctly and in compliance with UK regulations. Our experts will guide you through the necessary paperwork and legal requirements, allowing you to focus on your contracting work.

2. Bookkeeping and Financial Reporting. Accurate and up-to-date bookkeeping is crucial for the success of your contracting business. Our team will handle your day-to-day accounting tasks, including recording transactions, reconciling bank statements, and preparing monthly management accounts. We provide clear financial reports to give you a comprehensive view of your business’s performance.

3. Tax Planning and Compliance. Navigating the tax system as a contractor can be complex, especially with the introduction of IR35 regulations. Our tax experts will help you understand your tax obligations and identify opportunities to minimise your tax liabilities while remaining compliant. We offer strategic tax planning advice and assist with the preparation and filing of your annual Self-Assessment tax return and company tax returns.

4. VAT Returns and Making Tax Digital. If your contracting business is VAT-registered, we’ll ensure you stay compliant with VAT regulations and the Making Tax Digital initiative. Our team will prepare and file your VAT returns accurately and on time, helping you avoid penalties and maintain a healthy cash flow.

5. IR35 Compliance and Contract Reviews. The IR35 regulations have a significant impact on contractors. Our specialists stay up-to-date with the latest developments in IR35 legislation and can provide guidance on your employment status. We offer contract reviews to assess your IR35 risk and provide recommendations to ensure compliance and minimise potential liabilities.

6. Payroll and Dividend Planning. We provide comprehensive payroll services for contractors, including salary calculations, PAYE deductions, and payslip generation. Our team will also assist with dividend planning, helping you optimise your remuneration structure while staying compliant with tax regulations.