Accountants for Contractors

Specialist Accountants for Contractors and Freelancers

Contracting brings unique financial challenges — IR35 assessments, deciding between sole trader and limited company, optimising your salary and dividend split, managing gaps between contracts, and planning for pension contributions when there's no employer scheme. At Gro Profit First Accountants, we work with contractors across the UK and understand these challenges inside out.

IR35 Advice

IR35 legislation determines whether a contractor is genuinely self-employed or should be treated as an employee for tax purposes. Getting this wrong can mean paying thousands in back taxes, NICs, and penalties. We assess every contract, review your working practices, and advise on the steps you need to take to stay compliant — whether you're inside or outside IR35.

Limited Company or Umbrella?

Most contractors save significant tax by operating through their own limited company rather than an umbrella. We handle the entire setup: company formation, Xero accounting, payroll for your director's salary, dividend planning, VAT registration where needed, and ongoing bookkeeping — all for a fixed monthly fee.

Tax Planning for Contractors

We proactively manage your tax position throughout the year, not just at year end. This includes optimising your salary and dividend mix, maximising pension contributions, claiming all allowable business expenses, and planning for corporation tax payments. Our Tax MOT frequently saves contractors £5,000–£15,000.

Profit First for Contractors

Contractors often have feast-and-famine income patterns. Profit First helps you smooth cash flow, build a cash reserve for gaps between contracts, set aside tax provisions, and ensure you're actually keeping profit — not just spending everything you earn.