The IT industry is a great place to be for contractors and the need for skilled freelancers is soaring. The demand for skilled, experienced IT consultants is high so it can be expected that contracts are pouring in. Whether you are just starting out or have been working as a freelancer for some time, there is no better time than now to become your own boss and earn a great living.
You can gain many advantages from being self-employed including tax efficiency, flexibility and higher take home pay. You can challenge yourself on a professional level and expand your skills but as work starts building up and the business grows, it is vital that you ensure all the finances remain above board.
It is easy to become confused with so many different numbers being quoted to you in terms of Dividend Tax and Take Home Pay. But it is important that you stay on top of your paperwork and affairs and here Nixon Williams can help.
As an expert accountancy service, we can manage all your books properly so as the contracts keep rolling in and time becomes precious, we can take care of your accounts for you.
We at Nixon Williams have developed our own calculators to help Contractors/Freelancers to get a better understanding. The calculators available for use are:
Quickly distinguish what your predicted take home pay is by using the sliders. Once you have input all of the required fields the total is automatically calculated at the bottom. Our calculator will preview what your Take-Home pay will be with regards to your IR35 status.
As our clients work through limited companies and obtain their salary via dividends, we have developed a Dividend Tax calculator showcase its tax efficiency. This easy to use calculator simply requests your salary, bank interest and any dividends you have already received. Once you have input your details the total gross income is displayed below.
Since the introduction of the IR35, the importance of finding whether you are caught or exempt by the regulations has never been so important.
We can recommend QDOS a specialist in determining whether your contact is affected by the IR35 legislation.
Before getting your contract professionally analysed, we have developed a Questionnaire that asks 10 simple questions which will give you ease of mind when understanding your status.
All of our calculators can be found on our Nixon Williams: Tax Calculator app, which is available for both iPhone/Android phones. Click here to go to our app page and download today!
Soon enough you will find that you donít have the resources to make sure the taxes are in order but this is where we can assist you. As well as taking care of all your taxation issues, we have a number of IT Contractor Calculators to simplify the process.
Our free financial guides and online tax calculators will aid you in tax calculations and help to work out what you are earning from contracting. Are you confused about what numbers matter to you? Rest assured that we have the knowledge and wealth of experience to help and the easy to use calculators do all the hard work you.
Nixon Williams aim to provide clear and easy to understand figures with full details to explain, so if you work in the IT industry, check out our helpful calculators.