Are you Self Employed, Sole Trader, Freelancer or a Small limited Company
We offer A Full Independent & Professional Service offering
Bookkeeping, VAT, Payroll
Management Accts & Year Ends
Self Employed & Ltd Companies
Tax Returns
Efficient, Accurate & Reliable
CALL NOW ON: 07547 728608
Self Employed, Sole Traders or Freelancers
BGIC Specialises in offering a complete accounting service for freelancers, sole traders and the self employed
BGIC specialises in offering tax and accountancy services to freelancers, sole traders, the self employed and small businesses.
We offer a range of low cost fixed fee packages, so you never need worry about any unexpected accountancy bills.
As a freelancer or sole trader our all-inclusive accountancy services start at just £60 plus vat a month, and include:
• Full telephone and email support
• Completion of your Self-Assessment Tax Return
• Advice on Income Tax payments
• Guidance on National Insurance contributions and PAYE
• Advice throughout the year on how to manage your business
• Ongoing proactive tax advice
• Help dealing with Inland Revenue
• Updates and reminders of important accounting dates
As well as storing all your important documentation using both hard and electronic copies, we also offer clients direct access to all of their documentation 24/7 x 365 days a year via a live on line system where each customer has their own weblink using a assigned user name and password to access their documents securely at anytime they may wish. We use secure encryption software to ensure full client protection
Sole Trader or Limited Company ?
One of the key questions many businesses ask themselves is whether to work as a sole trader or trade through their own limited company.
Whilst there are numerous benefits to going limited, many businesses choose the sole trader option. This is primarily because although going limited might be more financially rewarding, with lower taxes and more tax planning opportunities, they think there will be far more administration and legal commitments by going limited.
Without a doubt, the most common question we get asked is 'should I go limited?' but the reality is that there is no easy answer. Everyone's situation is different and what's right for one person might not be right for another.
As well as the obvious issues of tax and national insurance contributions, there are many other factors which might influence your decision, for example:
• What your turnover is and how much profit you make
• Your future plans to grow the business
• What level of commercial risk you will be exposed to
• Whether customer perception matters
• What plans you have, or would like, for pensions and retirement
• Would you like to sell your business in the future
• Do you have the time to manage a limited company
• Reducing your tax bill vs extra time working on and not in your business
So, there are lots of things to think about, and most important of all is your own personal preference. You might want the simplicity of being a sole trader rather than a limited company, or you might prefer the security of having ‘limited liability’.
Limited Company Formation
If you're starting up a business, you may want to form a limited company. There are a number of reasons why you may want to set up a limited company.
If you're a sole trader, you may want to register a business name in case you do want to eventually set up a limited company. Registering your name is simple, all you have to do is form a limited company, which only takes five minutes. The good news is you don't even have to trade through it to protect it, as registering it is often sufficient enough.
Once you have registered your company name and formed your limited company, your company will remain dormant providing you don't trade through it. Once dormant, there are a couple of things that need to be completed each year, we can manage this for you for just £60 plus VAT per month. This includes:
• Informing HMRC that your company is going to be dormant for the time being
• Filing dormant accounts once a year
• Filing an annual return – this is merely confirmation of statutory details, such as the registered office address
If you then decide to go limited, you simply start trading through your limited company and it automatically becomes active.
How do I register my business name and form my limited company?
The whole process is very straightforward and can be completed in a matter of minutes. All you need is a company name.
Once you have formed a limited company, you will receive all the necessary documentation, along with an application for free business banking, VAT and PAYE registration details.
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