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As a IT contractor, you want to keep track of your profits and be ready to take on the next project without having to worry about your accountancy needs.
We realize how intimidating it can be to take the first step towards contracting. That is why we are here to assist you. Our qualified accountants has helped thousands of IT contractors in developing their businesses, achieving their financial and personal goals, and increasing their contract revenue. With our mission driven approach to bookkeeping, payroll, tax and accounting, you'll always get direct, honest advice when you need it.
If your organisation wants to hire independent contractors or temporary workers, an umbrella company may seem like a smart choice to investigate.
The PAYE Umbrella company serves as a go-between for the contractor and the recruiting firm (or the end client).
PAYE – which deducts necessary taxes, national insurance payments, and pensions before paying the contractor — is used by umbrella firms to handle payroll.
Contractors can be set-up immediately under the PAYE Umbrella Company
A Personal Limited Company is a legal entity independent from an individual shareholder and Director, with the shareholder only liable for the company's obligations and liabilities up to the amount of their unpaid share capital. With the exception of severe circumstances when Directors are suspected of trading irresponsibly, personal assets of directors or shareholders cannot be seized to pay off Company obligations.
An Director Umbrella Company is a quick and easy accounting solution that enables professional contractors to start working as self-employed contractors the same day.
You get practically all of the benefits of being a director of a limited company without having to pay the same amount of money and time to set up your own limited business.
You have the flexibility to come and go from the organization as needed. It's completely free to join, there are no exit costs, and you only pay for the months you work.
Rather than being in the ‘service’ of your employer, as a Contractor, you ‘provide services’ to a company. When contracting, you will be paid on a daily or hourly basis for your services.
At Truway Accounting, our team of qualified accountants help your business register you with Revenue, set up your Limited Company, help you set up a business bank account, register for Value Added Tax (VAT), set up your Payroll arrangements for weekly/monthly payments, Provide you with the best tax saving structure possible.
All payments are processed through the PAYE system under PAYE Umbrella Company, with accurate deductions and assessments of tax, PRSI, and USC to ensure you're fully compliant with accurate taxes.
This is an ideal alternative for Professional Builders and IT Contractors who work on short-term projects or who want to keep their Class A PRSI contributions.
An Umbrella Company (Director) is a quick and easy accounting solution that enables professional IT contractors in Ireland to start working as self-employed contractors the same day.
You get practically all of the benefits of being a director of a limited company without having to pay the same amount of resources to set up your own limited business.
The company is a separate legal entity, which can safeguard your personal assets from business creditors if the firm is unable to pay all of its debts and must discontinue operations for whatever reason.
A Private Limited Company allows you to hire employees or subcontractors, claim business expenditures, set up a pension plan, and have more control over bookkeeping and payroll management.
A PAYE Umbrella Company is a middle-man company that deducts payroll taxes on behalf of a contractor.
At Truway Accounting, our team of qualified accountants help your business register you with Revenue, set up your PAYE Limited Company, help you set up a business bank account, register for Value Added Tax (VAT), set up your Payroll arrangements for weekly/monthly payments, advise on Business Expenses Claims
All payments are processed through the PAYE system under PAYE Umbrella Company, with accurate deductions and assessments of tax, PRSI, and USC to ensure you're fully compliant with accurate taxes.
This is an ideal alternative for Professional Builders and IT Contractors who work on short-term projects or who want to keep their Class A PRSI contributions.
An Umbrella Company (Director) is a quick and easy accounting solution that enables professional IT contractors in Ireland to start working as self-employed contractors the same day.
You get practically all of the benefits of being a director of a limited company without having to pay the same amount of resources to set up your own limited business.
It’s a real blast to form your own limited company and work as a contractor. You’ll have more control over when and how you work, and it’s usually a very profitable way of working.
However, there is a lot of administrative and tax duty that goes into the formation and operation of a limited company, so our qualified accountants make sure to be by your side to guide you through the process.
As a Director and Shareholder in your Personal Limited Company, you have the authority to set your own wage requirements and pay just what you need, with the option of leaving assets in your Company for future investment.
We’ll handle all your tax returns and accounting needs, so you can focus on your business.
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