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Resources for Personal Service Companies & IR35Garbetts have many years experience of providing services to PSCs, with a successful format based on personal attention and plain speaking. Our claim to fame is that, we were, as far as we are aware, the first practice to realise the implications of the now notorious 1999 IR35 budget press release and make public comment on it a matter of hours later on the internet - a lot of water has now passed under the bridge! We're based on the Isle of Wight, which, to avoid any confusion, is an extension of mainland UK under English law. Don't confuse us with offshore accounting firms on the Isle of Man or Channel Islands - and, yes, we have been asked before now "Whats the difference between an Isle of Wight company and a UK company?". We've around 20 staff, and have been in business for over 20 years. Our services for personal service companies are based around a simple fixed fee to cover routine work - business accounts, business and personal tax returns, payroll, checking quarterly vat returns, pre year end review and ad hoc advice on IR35 and other issues. The fixed fee for this is £900+vat pa, £90.00 p/m. The only extras you may face are IR35 contract reviews, £100+vat. We also recommend tax enquiry insurance to cover tax investigations and enquires, including IR35, currently £145 pa + vat but this is optional. Company formation, if required, is available at £120+vat + Companies House change of name fee, and normally can be turned around in 24 hours. This fee includes supply of a company, HMRC registrations including VAT, and bank account opening with Cater Allen Private Bank (part of Santander) if requested (subject to status / approval). We don't provide Umbrella companies or Managed Service Companies. For our quick registration page, to join us as a client, click here If you are interested in IR35 or S660a, then click here For our guide to choosing an accountant, click here For our full terms of business, tariff and service specification for Personal Service Companies, click here For more about us as a firm, click here Latest Updates
FormationOur formation questionnaire (formationquestionnaire.xls) RegistrationIR35IR35 – getting the contract right Services and Terms of businessIntroduction to our PSC services Accounting and transaction recordingDetails on our transaction recording system Guidance notes on the accounts template The above template is designed to be used for a complete accounts year and updated quarterly; therefore you should only download it at the start of the tax/accounts year. Tax planning toolsPSC tax planning spreadsheet - a simple spreadsheet enabling you to model profit, dividend, salary and shareholding options. Salary calculator - a simple spreadsheet for calculating net salary and deductions for any given month. Contract reviewsGarbetts offers a contract review service, but please see the guidance below about what types on contracts we can review and the supporting information needed. For existing clients reviews are priced at £100+vat - please enquire about non client rates. Contract review questionnaire - in PDF or Excel You must send in the contract review questionnaire with any contract you wish us to review. Tax Enquiry Fee Protection SchemeWith the high risk of enquiries relating to IR35, we recommend clients take up our Fee Protection service which we offer in association with Qdos Taxwise. Follow the link below for more information: Tax Enquiry Fee Protection Scheme Application is direct to Garbetts, using the link above. Information and GuidanceAll the guidance below, consolidated Introduction to PSCs All the guidance above, consolidated For Further information, please contact us Garbetts Chartered Certified Accountants E-mail: office@garbetts.com
Arnold House, 2-6 New Road, Brading, Isle of Wight, PO36 0DT.
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