When working as a contractor, setting up a limited company is by far the most tax efficient way of working. Becoming the director and shareholder of your own limited company allows you to withdraw the funds from your company as a dividend rather than receiving all of your income as a salary, which reduces the combined tax you and your company will pay.
However, the administration involved in setting up and running a limited company can be both bewildering and time consuming, especially if you are new to contracting. Even if you’re confident about handling paperwork, keeping on top of it can get in the way of your real job.
That’s where PayStream can help. Whether you're a contractor looking for the complete PSC service or if you have the time and knowledge to take care of the everyday accounting tasks like invoicing and bank entries yourself, we have a solution to suit you.
Regardless of what limited company service you choose, our compliance team can give IR35 advice if you are worried about your tax status. So you get the control of being in charge of a limited company, but without the headaches.
My PSC
Our full limited company service 'My PSC' provides you with a dedicated accounts team who will give you expert accounting advice and will complete the booking keeping and statutory documents for your limited company.
My PSC Online
Our online limited company service 'My PSC Online' handles all of your essential accountancy needs but leaves you in charge of the everyday tasks like invoicing and bank entries by providing you access to our unique book-keeping software which is an innovative, tailor made solution built specifically for contractors.
How much will I take home with My PSC?
The My PSC service is as little as £150 + VAT a month. However, you will be able to offset part or even all of this fee against tax, which means it costs you less in real terms.
Try our calculator below to find out how much money My PSC could save you.
What do I do next?
If you’d like to find out
more, there are plenty
of ways to get in touch.
Call us on 0800 197 6516
Ask us to call you,
or book a free quote
with no obligations.
Still not sure...?
My PSC: Don’t take our word for it. See what other My PSC customers have to say on our testimonials page. Or perhaps you have some questions for us?
We’re happy to answer them. Just pick up the phone and call free on 0800 197 6516.