Contracting through your own Limited Company is often the most tax efficient payment vehicle available to higher earners. Ship Shape Pay does not promote or facilitate the use of Limited Companies, however we do contract to and pay Limited Companies and we will of course pay VAT where required.
Limited Companies are often used as the most tax efficient payment vehicle available to higher earners. A Limited Company Director will usually need to hire his or her own accountant to assist in the set up and administration of their own Limited Company and Ship Shape Accounting is licensed to carry out this role, including Company Formation, VAT returns, Personal and Limited Company Annual Returns.
Uniquely, if you appoint Ship Shape Accounting the entire Ship Shape Pay service is free to you.
Why choose Ship Shape Pay for Limited Company payroll?
|Ship Shape Pay|
|HMRC compliant||Yes||Read below for more details on all our general benefits|
|Electronic pay transfer||Yes|
|Monthly fee from||£79.00 + VAT||More info...|
|Free umbrella service if assignments are at any time deemed to be caught by IR35.||Yes|
|Free Company and Personal Accounting (save £1,200)||Yes||More info...|
|Free company mobile||Yes||More info...|
|Personal online account services: Manage company and personal financial affairs in one place. Complete and submit expense online.||Yes||More info...|
|Weekly updates: Tax position and Activity Summary updated weekly||Yes||More info...|
Ship Shape prepares your Invoice and Activity Summary
Ship Shape Pay provides you with a weekly summary of the hours and applicable rate for work carried out by your Limited Company, together with the Invoice (self billing) generated by us in order for Ship Shape to pay your limited company, plus the invoice we send to the end contractor for whom the work was performed.
Ship Shape prepares your Limited Company and Personal Tax Position
Ship Shape Pay provides a weekly statement of estimated tax position for both your Limited Company and you individually (estimated and based on payments through your Limited Company).
General Benefits Details
Ship Shape has passed a full HMRC review and uses HMRC accredited software, 'Star' and 'Sage' Payroll Professional, plus we have official BACS Bureau accreditation.
We have arranged Public Liability insurance cover of £5 million, plus Accident insurance paying £300 a week income support for up to two years. All for just £2.99 per week.
Electronic pay transfer
Ship Shape can make same day payments, by BACS and CHAPS.
Should you or your agency wish you to contract with Ship Shape as a Self Employed worker, proper consideration of the 2014 Onshore Intermediaries Legislation is required as this prevents agency workers who operate under “Supervision, Direction on Control over the manner in which the duties are carried out” from being treated as Self Employed for tax purposes. Failure to meet these rules will leave the recruitment agency liable for fines and any deemed loss of tax. Ship Shape will analyse your role and require you to complete a questionnaire to establish your suitability. In the case of construction workers, Ship Shape is able to provide insurance indemnifying the agency against fines for appropriate roles, where our compliance guidelines are followed.