By providing an all-inclusive accountancy service, we enable our clients to enjoy their time. Busy modern lives leave us with less and less time to handle everything ourselves, that's why our service is here for you. We provide the highest quality advice and service that best suits your personal and business needs. You are guaranteed to speak to real people, based in the UK, who will acknowledge your requirements and provide you with prompt and professional advice.
|Address||1st Floor, Metropolitan House Darkes Lane|
|Phone Number||01707 871610|
Products & Services
For most contractors a limited company is the most tax efficient way to legally maximise their take home pay. Being a contractor with a limited company gives you the freedom to manage your own finances, minimise your tax burden and benefit from tax relief.
By setting up a limited company, you can become the director, company shareholder and employee. Therefore, when the company generates a profit, it belongs to the company and you are able to take your income through a combination of dividends and salary. The advantage is that this is the most tax efficient way of paying yourself as a contractor and the best way to maximise your income.
Contracting with an umbrella company is a hassle free way of getting on to a payroll system without the administration and additional responsibilities of running your own business. The agency or client makes a payment to the umbrella company, who do all of the administration for you. The umbrella company will make a payment to you through PAYE (Pay As You Earn) and you will receive a payslip in the same way as you would if you were a permanent employee. The umbrella service will deduct any tax and national insurance from your payslip as well as their service charge. There is no financial advantage over being an employee, but all the invoicing and admin is looked after by the umbrella company.
It is important to note that when you choose an umbrella company, you will not qualify for any other payment structures such as dividends, loans and FX schemes. These are considered to be tax avoidance schemes. You may, however, receive dividend payments if you are using your own limited company.
Completing a self-assessment, otherwise known as a Personal Tax Return, can prove to be a time-consuming and sometimes stressful task. Completing a self-assessment involves organising the relevant paperwork, filling in online forms with 100% accuracy, and submitting everything to HMRC by the 31st January 2017 deadline.
If you've never completed a self-assessment on your own, have recently started contracting, or if you don't understand any aspect of the process, you could risk making a mistake if you attempt to complete it yourself. Furthermore, not submitting your return to HMRC by midnight on 31st January 2017 will result in an instant 100 penalty, with further penalties the longer you wait to file.
I was new to contracting and had little idea about setting up a business, keeping the finances in order on an ongoing basis and avoiding any potential pitfalls. Churchill Knight & Associates Ltd, who came on recommendation, made the whole process easy. On an ongoing basis the invoicing, expenses handling and remittance advice has removed the chore of having to manage this myself, all communications in these areas have always been prompt and clear. Notification of when and how much to pay for VAT etc. have also always been clear and timely.
I have been with Churchill Knight & Associates Ltd for several years now and I find the ease of working with them to do my accounting is what keeps me with them. I have very little to do which gives me more free time in my personal life, something which makes it worth sticking with them. I trust them to do what is needed to keep my accounts in order. Trust to do things right is the most important thing to me when doing business with anyone.
I was very impressed with the speed and simplicity of having Churchill Knight & Associates Ltd set-up my new company and get me started. Helpful staff were there to answer my queries promptly.
Friendly, helpful staff. Easy set up including bank. Simple to use documentation. Nothing against recommending Churchill Knight & Associates Ltd to others.