Every contractor who works as a sole trader
or under a limited company
must keep up with new regulations and laws, which can be time-consuming and confusing. Persona Finance
online accountants are ready to assist you in optimising your processes and providing advice on how to run your business.The new IR35 changes were implemented in April 2021 for private sector contractors, transferring responsibility for assessing IR35 from contractors to large and medium-sized businesses. The 2021 reform brings private sector IR35 in line with public sector IR35, which was implemented in 2017. The IR35 legislation in the United Kingdom requires contractors to pay the same Tax and National Insurance contributions as an equivalent employee.
At the same time, if you work for a company based in the United States or Europe, there may not be a double tax treaty in place. It means you may be required to pay taxes in two countries for the same transaction. Our online accountants for contractors are familiar with these situations and can assist you in avoiding unnecessary costs and making your income as transparent as possible.
Persona Finance Ltd Online UK accounting services include contracting software that will allow you to directly invoice your clients. We also provide you with a variety of tools for calculating the amount of time you need to spend on the project and how to properly calculate it to ensure that you are always profitable.
As IT Contractors, Management Consultants, Engineers, Health Consultants, and others, we have worked in a variety of industries.