Beaureau Services

Beaureau Services

We believe that to the most tax benefits, a contractor needs to trade through a limited company. Runing a limited company is expensive and requires a lot of form-filling. IR35 and Section 660A severely limited the tax-efficiency of an individual personal service company. At Career Management Ltd with our associate company Contract Associates Limited, we keep the benefits of independence, but have removed the responsibilities.

How does it work?

1. Each contractor becomes an employee of Contract Associates Limited . This means you do not have to form your own company.
2. Contract Associates Limited will invoice your clients on the terms agreed by you, and undertake credit control to ensure collection on the due date.
3. Contract Associates Limited is VAT registered and will handle all VAT on behalf of the company
   • Contract Associates Limited operates a full PAYE and NI payroll calculated after business expenses and allowances to minimise your tax position.
   • All earnings are paid out either as salary or as expenses. Contract Associates Limited does not operate a dividend policy.
4. You can join Contract Associates Limited at any time, simply complete the attached application form. There are no set-up costs.
5. You can leave Contract Associates Limited at any time with one week’s notice.
6. We provide services to the contractor, we do not find contracts for individuals, this is down to the contractor.
7. We can only pay out of monies we have received from your clients. We do not pay you when you are sick, out of work or if your client defaults or pays late.
8. All our contractors are required to have Professional Iindemnity insurance, if you do not have this we can arrange it for you.

Advantages

1. You only pay for our service whilst you are in work. If you are between contracts our charges are suspended.
2. Our charges are fixed, subject to periodic review, there are no hidden extras and so there are no surprises.
3. As an employee of a larger company, your own affairs are hidden amongst many, so your anonymity is maintained.
4. As an employee receiving a regular salary, your credit rating is maintained for mortgage or loan applications.
   • You do not need to pay an accountant or have time off to do your books, VAT returns, etc.
   • You do not need to file company accounts
   • Allowable expenses can be paid before the calculation of tax and national insurance contributions.

Career Management Limited

 A ‘non contributory’ pension can be arranged, again this is deductible before calculating tax and national insurance contributions. This is a stakeholder pension and so entirely portable.

Existing Contractors

If you are already a contractor with your own company, you will have some idea of the time and cost involved. This does not preclude you from taking advantage of our service. You can try our service on a temporary basis, your own company will simply not trade while you are with Career Management Limited.

However, you are still obliged to complete the annual return and statutory accounts. We can advise you in this matter where appropriate.

If you decide to continue with Career Management Limited, we will assist you with either making your company dormant or winding up the company. With our expertise you can make a smooth transition from an own company administrator to an employed contractor with more free time and no administrative worries.