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Limited company

Our accountancy services are designed to give you what you need at a price that makes sense for your business.


Switching to PayStream is easy

Are you unhappy with the service your current provider is giving you? If your accountant isn't able to give you the service and expertise that you deserve then now is the perfect time to switch.

Insurance cover highlights

To ensure your business is protected financially and that you are complying with the requirements of your client, you need to have suitable insurance in place at all times.

Expenses for limited company contractors and other business owners

Working as a limited company contractor has a lot of advantages, but it does mean you're responsible for plenty of running costs. Fortunately, there are tax relief and allowances that can help you maximise your take home pay, as well as different expenses you can claim.

Limited Company FAQs

Our limited company accountancy services are designed to give you what you need at a price that makes sense for your business and we want to make sure you use the service that's right for you. We’ve answered some of your most frequently asked questions.

A guide to payroll forms for contractors running their own businesses

The majority of limited companies will process and pay a salary to its director(s). This makes the director an employee of their limited company for payroll purposes and requires the limited company to navigate all matters related to payroll. Therefore being familiar and understanding all the various payroll forms is key to ensuring you know exactly what to do and when to do it.

Principles of VAT for Contractors & Small Businesses

We have created a simple guide that is intended as an introduction to the tax for limited company contractors and other small businesses.

Year End Tax Guide 2023/24

As the end of the tax year approaches there are various rules, rates and allowances in place which if used effectively can ensure you are working in the most tax efficient way.

VAT: a comprehensive guide for UK businesses

VAT is an integral component of the UK tax system, particularly for VAT-registered businesses. In this guide we look at the basics of VAT, to provide you with a further understanding.


Introducing Insight accounting software

Our specially-designed online accounting software helps you shine a light on your company finances quickly and conveniently, whenever you want.


Umbrella VS Limited Company Infographic

Umbrella Company vs. Limited Company, what's the difference? Our infographic explains.


An umbrella company is the simplest way to get paid for most contractors. The umbrella company employs contractors carrying out short-term assignments and makes Pay As You Earn (PAYE) and National Insurance contributions - so no unexpected tax bills.


A quick Start-Up Guide from PayStream

So you’re thinking of becoming a contractor? Whatever your reasons for choosing this kind of work, starting out as a contractor means that you need reliable information. We have answered some of the most commonly asked questions for you.

Your guide to Supervision, Direction and Control

The Government has changed the Travel & Subsistence expense rules for agency and umbrella workers. Find out more here as to what these changes are and what they mean to you.

Umbrella Expenses - what can you can claim?

As an Umbrella contractor working through PayStream you will fall into one of two categories; working under supervision, direction or control (SDC) of either the client or the agency or not.

How to spot a dodgy umbrella company

April 2021 saw the implementation of off-payroll working in the private sector, a considerable number of contractors who currently choose to work through their limited company (PSC) may have that choice removed from them. Those likely to be affected have found themselves in unfamiliar territory in trying to choose an Umbrella Company.

My Max FAQs

Our umbrella company, My Max is the award winning umbrella company that covers it all, this makes it the simplest way to get paid for most contractors. My Max takes care of all of your Pay As You Earn and National Insurance contributions leaving you to get on with what you do best. How an umbrella company works really is simple so we’ve answered some of your most frequently asked questions below.

An umbrella employee's guide to being paid twice in the same tax period

Occasionally umbrella employees may find themselves being paid more than once in a single tax period, in this article we explore why this may happen and what the consequences of it may be.


What is an umbrella company?

So, what is an umbrella company? In this video Damien quickly explains what an umbrella company is and lists just some of the benefits you can enjoy by using one.

How does My Max Umbrella company work

If you’re new to contracting, then working under an umbrella company is arguably the best way for you to work. But what exactly does this involve? This video outlines how an umbrella company can help you.

Join PayStream in less than 10 minutes

Joining PayStream comes with a raft of benefits, but joining up is simple and can take you under ten minutes to complete.

Travel and subsistence explained

On 6th April 2016 the Government introduced new legislation which imposed restrictions on an umbrella worker’s ability to get tax relief on their travel and subsistence costs. We explain in further detail what these changes are and how they affect contractors...


How an Umbrella company works

Understanding how an Umbrella company works can be tricky so let our infographic help to explain.

Umbrella vs PAYE

It can be difficult to understand how an umbrella company differs from working through the agencies payroll, so let our infographic help to explain these differences.

Umbrella benefits

Our umbrella service, My Max, offers contractors that little bit extra. From employee rewards, to help and advice with big financial decisions, we like to think that My Max is well ahead of the pack in every respect.


In this section, you can find all the information you need regarding the Off-Payroll working legislation.


IR35 Advice For Contractors

IR35 looks at whether a contractor is working any differently from an employee of the client. There should be noticeable differences between how contractors and employees work, otherwise IR35 may apply to the contractor.

The pro's and con's of using the CEST tool

HMRC first introduced it's 'Check Employment Status for Tax' (CEST) tool back in 2017. However since its introduction CEST tool has not been without it's critics, we take a look at the pro's and con's of CEST in this article.

IR35 MythBuster #1 - What happens if a client says an assignment is outside IR35

If a client says the assignment is outside IR35, there is no risk to the agency if it pays the contractor’s PSC gross - Fact or Myth?

IR35 MythBuster #2 - what happens if a client deliberately misleads an agency

If the client deliberately misleads an agency on IR35 status the client bears the tax risk - Fact or Myth?

IR35 MythBuster #3 - The small company exemption

If the small companies' exemption applies, an agency could still be liable for unpaid tax under the new IR35 rules - Fact or Myth?

IR35 MythBuster #4 - Who is liable?

Agencies can leave decisions on IR35 solely to their clients without risk - Fact or Myth?

Is there a way to avoid IR35?

The simple answer is you can’t, so stop looking. As of April 2021, the decision regarding your IR35 status will rest with your end client. However there are certain things you can do to ensure they take into account all the facts.

Industry Legislation

In our industry, a strong focus on compliance is essential, both for us and our contractors' peace of mind. That's why it's important that we keep our clients up to date on all the latest legislative changes.


Employment Intermediaries

By way of background the legislation requires recruitment agencies to report to HMRC on all the workers they place on assignments. If on agency payroll this should already be done on a weekly basis (if paid weekly) through RTI reporting. If the agency pays the individual elsewhere (e.g. through an umbrella, a PSC or CIS scheme) then it must report the payment on a quarterly basis to HMRC.

Off-Payroll Working Legislation

The “Off-payroll working” legislation was introduced in the private sector in April 2021. The legislation means that the responsibility for determining a contractor's IR35 status has now moved to the end client, with the person paying the PSC (usually the agency) being responsible for deducting the necessary tax, if IR35 applies.

Onshore Employment Intermediaries

On 6 April 2014 the Government published final legislation following the Onshore Employment Intermediaries Consultation. As widely anticipated there was no good news for agencies who became responsible for ensuring compliance with the legislation and will accrue liabilities if any self-employed workers placed by them are found not to be genuinely self-employed.

Travel and Subsistence

On 6th April 2016 the Government introduced new legislation which imposed restrictions on a worker's ability to get tax relief on his/her travel and subsistence costs unless it can be shown that the worker is not under the supervision, direction or control (SDC) of either the client, the agency or PayStream in the way he/she carries out work.

Real Time Information

After the introduction of the Agency Worker Regulations in October 2011, we were busy preparing for Real Time Information (RTI), with direct support from HMRC (as part of their pilot scheme) to make sure that we submit the correct data in the correct format.

Contractor Pensions: our advice

The government has taken steps to encourage people in work to make significant provisions for their retirement, as most people have around 20 years of retirement to look forward to.

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