Albans can manage your accounting so you can focus on your projects. Contractors must understand IR35, as those working inside IR35 are subject to additional tax and National Insurance.

Choosing how to trade is important. You can operate as a Sole Trader or through a Limited Company, each with its own pros and cons. Sole Traders do not need to consider IR35 and this option is often more tax-efficient than an Umbrella Company. Limited Companies can be the most tax-efficient but involve more responsibilities and require IR35 consideration.

If HMRC finds you incorrectly operating outside IR35, penalties and backdated tax may apply. Albans can review your situation and advise whether IR35 applies to your business.