Rauf Accountants take care of your accounting and tax responsibilities so you can focus fully on your projects and business growth. For contractors, understanding IR35 is crucial, as it determines how you are taxed and whether you are liable for additional Income Tax and National Insurance contributions. Deciding whether to operate as a Sole Trader or through a Limited Company depends on your individual circumstances, as each structure has its own advantages, responsibilities, and tax implications. While a Limited Company can often be more tax efficient, it requires greater administration and careful consideration of IR35 rules. If HMRC finds that you are incorrectly operating outside IR35, you may face additional tax payments, interest, and penalties. We are happy to review your circumstances and provide clear, practical advice to ensure you choose the most suitable and compliant structure for your business.
