Charges and typical tax liabilities

WHAT YOU GET FOR YOUR MONEY

There are inbuilt risks for self-employed and limited company workers. The Inland Revenue takes the sceptical view that you may really be employees of the firms for which you work, and actively pursue a policy of re-classifying you as employees where they can. If they succeed, they get more tax, you have less money. Simple as that.

We are specialists in this area of tax work

  • We show you the various strategies to adopt.
  • You leave our initial meeting extremely well informed.
  • If problems arise with the tax authorities, we support you effectively.
  • If firms are unsure of engaging you on a free-lance basis, we reassure them.
  • Our letters and articles on the subject have been published in professional journals.

We get your tax bills down!!

  • Average tax bills for self-employed businesses - 20% of income
  • Average tax bills for limited company businesses - 14.5% of income
  • The less the Revenue get, the more money you have. Simple as that.

Example of typical tax liability

Based on gross income ("salary") of £30000 in the year - say, 7.5 months work @ £180 per day,

a) Tax and National Insurance as an employee, including tax on company car, would be £7925 (26.4% of income).
b) Tax and National Insurance for a self-employed business would be £6027 (20.3% of income).
c) Tax (No National Insurance) for a limited company business would be £4,350 (14.5% of income).

Returning to your home country

Although we are not experts on other country's tax systems or how your UK income will impact on them when you return, our experience enables us to provide creative ideas for planning and timing your return and how to approach matters when you get there.

WHAT DOES ALL OF THIS COST?

For a service which is highly professional, specialist, personally supportive, tax effective and individually tailored, the costs based on standard fees are:

  1. For self-employed businesses, including accounts, tax returns and support throughout the year, the fee is £460+VAT per year.
  2. For limited company businesses, including company accounts, company tax return, company secretarial work, personal tax return and support throughout the year, the fee is 1050+VAT. (There are also the 'one-off' costs of setting up the company, £130 and a specialist contract, £165, which last you throughout your stay, however long that may be).
  3. We can also help PAYE employees in many and varied ways, including completion of personal tax return and achieving refunds, and the fee is £185 per annum.

These charges include an initial meeting fee of £100, with the balance being payable as follows:

  1. PAYE Single payment at end of year.
  2. S-E Monthly payment of £36.*
  3. Ltd. Co. Monthly payment of £91.*

* In year 2, as no initial meeting fee is paid, the monthly payments are £46 and £101 respectively. These monthly payments are merely to approximate to the annual fee.

Discounts

We offer discounts for referrals. For every friend or colleague (it can be a person of any profession) who comes and uses our services, there is a discount of £30 from our charges for each one. If the colleague is a clinic or practice, the discount is £100. This works, and it happens often.

How competitive are we?

  • You can always find a cheaper firm. Always! And that's the only thing that matters?
  • The 'umbrella company' method may be cheaper, it may be dearer. (These are companies where you are an employee and a shareholder along with many others whom you do not know - these companies charge the firms you work for and pay you weekly against a time sheet which you have to submit to them with expenses claims). In our experience, based on the reports of many professional workers who leave them and join us, they are more impersonal, there is less support and communication and they (the workers) pay much higher tax and N.I. and have less 'take-home' pay as a consequence.
  • With A. Gibson Taxation Services you get what you pay for. If you didn't, your friends wouldn't mention us.