Running a limited company is seen as one of the best ways to maximise your take home pay through efficiently and legally working with your finances. In doing so, it gives you the opportunity to manage your own financial accounts and essentially benefit from tax relief, which in turn benefits many other areas of the company.
The most efficient way to maximise your income as a contractor is through setting up a limited company; this means becoming the company’s director, shareholder and employee and all profits that are made by the company are then filtered down into your own income through the likes of dividend and salary.
A few great benefits to be drawn from running a limited company are as follows;
- Freedom, flexibility and control over your own finances
- Tax relief on external expenses such as training, accommodation and home office costs
- The chance to apply for the Flat Rate VAT Scheme
- The best way to legally maximise your take home pay
Limited Company Accountancy
By choosing to work with a specialist contractor accountant, your limited company can be aided with not only the initial setting up matters but also with the day-to-day running; paperwork, accounts and all the small yet important things that make your company run smoothly everyday.
For more information contact us on 0141 345 2335 or visit out website: www.kppca.co.uk