Contracting Plus

Personal Limited Company

Be your own boss. Fast, free set-up of your own Limited Company. Perfect if you want to build your own brand, buy a company vehicle, control your finances or manage your personal wealth.

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What to Expect

  • Tax Advice to Maximize Retention Rates
  • Monthly Payroll
  • Invoicing Management
  • Income Tax Return
  • Dedicated Account Manager
  • Advice on Business Expenses Claims
  • Company Incorporation
  • VAT Returns
  • Annual Bookkeeping
  • Annual Financial Statements
  • Annual Corporation Tax Return
  • Annual Abridged Accounts
  • B1 Annual Return for CRO
  • Award Winning Bespoke Technology
  • Assistance with setting up a Business Bank Account
  • Monthly Reconciliations
  • Company Secretarial Services
  • Appointment of Directors
  • Processing of Contracts
  • Act as Appointed Revenue Agent
  • Register for VAT/PAYE/CT
  • Proactive Management of Tax Deadlines

Personal Limited Company

Unlike an Umbrella solution a Private Limited Company is fully owned and controlled by you. It allows you maximum control of your finances, wealth planning and can be very tax efficient.

All the paperwork and the compliance might seem daunting. However, at Contracting PLUS we look after everything; the admin, the paperwork, the accounts and the company set up. All you need to do is think about what you want the name of your company to be – we do the rest. Simple.

With bespoke software you will have easy and full access to your accounts so you’ll always know where you stand. Access to the software is free as part of this solution.

Setting up your own Personal Limited Company is ideal for those who want to buy assets (such as a company car), retain funds in the company or employ a staff member.

Your Employers Liability, Public Liability and Professional Indemnity* Insurances are all included in your monthly fee which is also a tax deductible business expense.

We can assist you with opening your business bank account, and can provide you with a company secretary if necessary. We will liaise with Revenue on your behalf as your appointed Tax Agent.

With Contracting PLUS looking after your business you can focus all your effort on growing it!

 

 

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Why Set-Up a Personal Limited Company?

  • Full Control
  • Build your own Brand
  • Build and Retain Wealth in the Company
  • Maximise Tax Benefits
  • Employ Staff
  • Buy Assets, eg. Company Car

 

Testimonial


“I can concentrate on my work knowing that you guys are there to help me with expenses, invoicing, follow-ups and tax returns in the most professional manner. I’d recommend your services every day of the week. ”


M.Flood

Who should set up their own Personal Limited Company?

If you are a contractor who simply just wants more control of your finances then this is the best option for you. With your own Personal Limited Company you can market your business, expand your operation and take on employees, purchase a commercial vehicle and have more flexibility with salary and pension. It’s ideal for;

  • Those who are thinking long-term about financial planning and their family’s wealth.
  • Long-term Contractors / Career Contractors.
  • Contractors who want to purchase company vehicles or other large assets.
  • Those who want to retain money in the company to build wealth.
  • Anyone who wants to brand and promote their company.

The Benefits of a Personal Limited Company

  • You fully own and control the company, but are fully supported by Contracting PLUS.
  • Dedicated Account Manager to answer all your questions.
  • The most flexibility in terms of claiming expenses to reduce your tax bill.
  • Build up funds within the company, and control all cash payments (ideal for those who only want to work for 9 months of the year but get paid in all 12 months).
  • Simple to use online accounts software provided free of charge. This is your ‘mobile office’.
  • Employers Liability, Public Liability and Professional Indemnity* insurance included.
  • Contribution Class S PRSI
  • Very generous company pension contributions based on your age, with tax savings of up to 52%.

Good to Know

  • If you already have your own Personal Limited Company we can work with that. We can easily transfer all Revenue dealings to us to ensure it’s a pain free transfer for you.
  • When you have your own Personal Limited Company you’ll need a second person to act as Company Secretary. If you have no-one to ask then Contracting PLUS can be the Company Secretary for you.
  • The fee is payable every month as the cost covers the work involved in preparing the accounts and filing tax returns at the year-end (the Umbrella Director is a better solution if you don’t need your own company, or are working adhoc,).
  • After 2 full calendar months of no invoicing you receive a discount of 50% on the monthly fee until you start invoicing again – we keep the costs low when you’re not working to help your cash flow.
  • A further 25% discount is available when you opt to look after all the VAT, payroll, expenses and bookkeeping yourself (some conditions apply to make it a better service for you).

What Happens When I set up a Personal Limited Company with Contracting Plus?

  • You are the owner of your own company, supported by our experts.
  • We complete all the necessary paperwork for your company registration.
  • Your accountancy functions are optimised using our systems.
  • You are in control of your own finances and business.
  • We provide you with Employers Liability, Public Liability and Professional Indemnity* Insurances.
  • You are eligible to claim tax relief on all business related expenses.
  • You have 24/7 secure access to your company accounts on our portal.
  • A dedicated account manager can advise on efficient accounting practices.
  • Access to our simple-to-use App to upload your expenses.
  • Access to web-based software allows you to have a “Mobile Office”.
  • Access to wealth creation advice with our partner CWM Wealth Management Ltd.
  • You can move from our Umbrella solutions to a Limited Company solution at any time you choose. If you are a contractor who simply just wants more control of your finances then this is the best option for you.
  • Having your own limited company you can market your business, expand your operation and take on employees, purchase a commercial vehicle and/or flexibility with salary and pension.

 

*Professional indemnity insurance is generally provided unless you are contracting as a doctor or pharmacist. This would be the industry standard. Our team will let you know what insurance cover you will have when you are on a call with them