When working through your own limited company there is a certain level of admin and bookkeeping that must be kept on top of. The advent of more modern systems such as Integro Accounting’s bespoke online solution (see Online technology for more information) has greatly reduced the time that a contractor, consultant or freelancer needs to spend on the company bookkeeping and increased the quality of information available at any one time, but there is still some work to do. You may wish to employ your partner to help out with this if they do not have an income source from elsewhere.
If you do decide to pay your partner from the limited company the amount of the salary must be in keeping with the contribution that they make to the company. To make this worthwhile your partner will need to be prepared to: sort out the business insurances for the company; do all the bookkeeping; take care of the banking; liaise with the accountant for IR35 contract reviews, accounts preparation and VAT returns etc.
Running a payroll for your partner is included in Integro Accounting’s Fixed-fee service.
Why Integro Accounting?
Integro Accounting is the UK’s only specialist provider of fixed fee, limited company accountancy services for contractors, consultants and freelancers that was established to an award winning standard – our Practice Manager, Maria Hickmott FCCA, won The British Accountancy Awards’ ‘Accountant of the Year’ in 2011.
We were set up with the vision of providing a service that is the ultimate for the dynamic, busy professional of today in a language you understand.
Integro Accounting have designed a bespoke service for the contractor who is always on the go; never forgetting that one size will never fit all.
The relationship you have with your accountant is the most important factor in our service which is why we will always offer unlimited contact with your own personal accountant; whether that contact is via the phone, email or face to face.
We have our 3 offices located in London, the South-West and on the Bedfordshire and Buckinghamshire border. There are also meeting locations in many of the major cities and towns across the Home counties, South-West and South Wales, all conveniently placed so that you never have to travel far to meet your accountant.
If you have any questions about contracting or would like to find out more about how Integro Accounting can help you and business please call Christian on 01525 303984, email firstname.lastname@example.org or request a callback.