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Limited company

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

Limited company


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

At PayStream we offer a comprehensive level of insurance cover for our limited company contractors. Take a look at the highlights of this cover.

My PSC vs High Street Accountant

If you've thought about finding a more tax-efficient way to work, you've probably already considered getting in touch with a local accountant. So we thought you'd find it useful to see how My PSC compares to the service you'd typically get from an accountant on the high street.


Introducing PSC Insight

Our specially-designed online accounting portal helps you shine a light on your company finances quickly and conveniently, whenever you want. Only for My PSC and My PSC Exec contractors.

A guide to PayStream's Limited company services

If you're a contractor who can work outside of IR35, working through your own limited company is by far the most tax-efficient option for you. This video outlines how PayStream's limited company services can benefit you.

Why should you set up as a Limited company contractor?

What are the main benefits of working as a limited company contractor? We take a closer look in this video.

What is a personal service company?

What's the difference between a personal service company and a limited company? Our video explains...

How do I set up a limited company?

It's very easy to set up your own limited company, or personal service company, as some people like to call it. Our video explains how...

What are your responsibilities as a director?

Setting up a limited company can bring with it a number of responsibilities, including several taxes that you need to pay over the course of the year.

Umbrella vs Limited Company

When you decide to work on a contract basis, you can either work through an umbrella company or become a limited company contractor. But before you decide on which option is best for you, there are a few things you need to consider.


How does a Limited company work?

Making the move to a limited company contractor can be quite daunting as some may find it difficult to understand how it works. Our infographic can help.

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.

Umbrella Company FAQs

We are regularly asked a wide variety of questions, ranging from what the benefits are of using our services, to what are deemed to be 'allowable' expenses. We have therefore drawn up a 'Frequently Asked Questions' document to assist you.

Umbrella vs PAYE - so what's the difference?

Whether you’re new to contracting and looking for the simplest way to be paid, or are a limited company contractor who has been affected by the April 2020 off-payroll working legislation then an umbrella company could be the best option for you. But how does it differ from agency payroll?

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.


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...

What is an umbrella company?

So, what is an umbrella company? Our Lead Accountant, Vicky, explains what exactly an umbrella company is and whether this could be the right choice for you.


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 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.



What is IR35 and how does it affect you?

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.


What is IR35?

IR35 is a piece of legislation that applies to limited company contractors. We take a more in-depth look at what the IR35 legislation is and how it affects contractors.

Who does IR35 apply to?

Determining whether you fall inside IR35 or outside IR35 can be tricky. It looks at various factors, including whether you have the right to substitute, how much financial risk you take and who controls when, where and how the services are performed. We take a closer look at who IR35 applies to.

What helps and what hinders IR35?

Understanding whether or not you fall inside or outside IR35 can be tricky, even for the most diligent contractor! Our video outlines which factors help and hinder your IR35 status.

What is the off-payroll working legislation?

HMRC says that if you look and work like and employee then you should be subject to the same tax and National Insurance deductions as other regular employees. Our Legal Director, Julian Ball, explains what exactly the off-payroll working legislation is.

What do the public sector changes mean for contractors

IR35 within the public sector was introduced in April 2017. This video looks at what IR35 is, what these public sector changes were and what they meant for contractors and their agencies.

What is CEST?

So, what exactly is CEST and what has it got to do with IR35? Our Legal Director, Julian Ball, explains.


What helps and hinders IR35

IR35 asks whether the worker would have been an employee of the client if engaged directly. It looks at a number of factors to determine this some of which can be quite confusing so our infographic is here to help.

What is IR35 Comply?

IR35 Comply is PayStream's complete IR35 review service which enables you to manage IR35 throughout your supply chain, all via our market leading online portal.


All the latest updates from the Government with regards to COVID-19 support for contractors.



COVID-19: Limited company (PSC) contractor guidance

Information regarding the deferral of VAT payments, Self Assessment payments, SSP, the Coronavirus Job Retention Scheme (CJRS) plus other financial support measures introduced by the Government to help businesses and employees through the COVID-19 crisis. We will endeavour to keep this information as up to date as possible.

COVID-19: Umbrella employee guidance

Information regarding measures introduced by Government to help employees through the COVID-19 crisis including furlough pay and what that means for umbrella employees.

COVID-19: CIS contractor / self-employed guidance

Information regarding the COVID-19 Self-employment Income Support Scheme and other financial support measures introduced by Government which may be of help to some of our CIS contractors, depending upon their circumstances. We will endeavour to keep this information as up to date as possible.

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