Paymatters Accountancy Services LLP

15 January 2011

PayMatters are pleased to announce the launch of a new service to help contractors with their accountancy requirements when running their own Limited Company.

A Personal Service Company (PSC) can often be the most profitable way for a contractor to be paid.

Often though contractors don’t want to spend their free time processing their accounts, worrying about their tax, completing forms and worrying about filing penalties. This is where PayMatters can help.

As an accountancy firm we can perform various accountancy services for you (while also ensuring that you do not fall foul of Managed Service Company and IR35 legislation).

At all times the limited company (“company”) remains your property and under your control. You even choose the name for it which can help you build-up your own brand.

For a monthly fee we can, at your request, take care of the following for your company:

1. Manage Company Formation and set-up;

2. Act as your Registered Office;

3. Register for VAT, Corporation Tax and PAYE;

4. Provide advice as to whether Chapter 8 IEPTA (IR35) applies to any new engagement;

5. Advise on your remuneration package;

6. Advise on expenses;

7. Advise on setting-up a Business Bank account;

8. Prepare and submit invoices to your end client;

9. Operate your Payroll and returns (i.e. payslips,P35’s and P11D’s);

10. Prepare Monthly Management Accounts and Annual Financial Statements including quarterly VAT and PAYE returns and advice on how much to pay;

11. Provide support on Secretarial matters i.e. drafting minutes and annual returns for you to approve and submit; and

12. Through our business partners you can ensure you have adequate insurance cover such as Employer and Public Liability and can utilise tax efficient savings through a Pension Plan.

We can also provide help in these areas on an ad-hoc basis rather than as a whole.

Areas where the director must take responsiblity are:

1. Acting as a Director or Company Secretary;

2. Managing your bank account; and

3. Credit Control – chasing unpaid invoices.

IF YOU ARE NEW TO CONTRACTING OR ALREADY CONTRACTING THROUGH AN UMBRELLA COMPANY THEN PLEASE FEEL FREE TO CALL PAYMATTERS FOR A NO-OBLIGATION ILLUSTRATION AND FURTHER INFORMATION ON HOW WE CAN HELP.

PLEASE CALL 0800 121 6513 quoting PSC.