Accountant for IT contractors

Nasir RasheedNexus Tax & Accounting · Milton Keynes · MAAT AATQB
See if Nexus fits

Your costs are low and your day rate is high. Nobody checks whether that puts you on the wrong VAT scheme.

Nasir Rasheed, Director

Accountant for IT contractors: Nasir Rasheed, Nexus Tax and Accounting Solutions

Accountant for IT contractors who want the VAT and dividend decisions made before year end

Accountant for IT contractors working through a limited company on day rates, with high invoice values, low running costs and a VAT scheme nobody has looked at since the day you registered.

Contractor accounts are a short job. The decisions around them are not: which VAT scheme fits costs like yours, how much to take as salary and how much as dividends, and where a contract sits for IR35. That is the part most firms leave until you ask.

See if Nexus fits your set-upAsk Nasir a questionRead the guides →

Nexus Tax and Accounting Solutions is a Milton Keynes accountant for IT contractors with established limited companies, run by Nasir Rasheed MAAT AATQB. One monthly fee covers accounts, corporation tax, VAT, payroll and the director’s self assessment, with VAT scheme review, salary and dividend planning and a corporation tax forecast a month ahead included.

Accredited and certifiedAAT, Association of Accounting TechniciansXeroQuickBooksFreeAgent

  • Nasir Rasheed MAAT AATQB
  • Established 2024
  • Three new clients a month
  • Milton Keynes · UK-wide remote

What you get with Nexus

01

The VAT scheme that matches your actual costs

Standard, flat rate or cash accounting, chosen against what you really spend, then reviewed as the contract mix changes.

02

Your corporation tax known a month early

Corporation tax and dividend headroom forecast before the year end, so the money is there and the decision is yours.

03

A reply from Nasir, not an account manager

You deal with one accountant who knows your contracts, which is why Nexus takes three new clients a month.

The decisions IT contractors make without advice

Three things I hear from contractors in the first conversation.

  • VAT

    “I have been on the standard scheme since I registered. My costs are a laptop and some cloud subscriptions, so I reclaim almost nothing.”

    Four quarters of VAT paid on a scheme that was never chosen for these costs. Nobody had done the comparison.

  • Dividends

    “I take the same salary and the same monthly dividend I set up on day one, and I hope there is enough profit behind it.”

    Dividends drawn without checking reserves, and a personal tax bill that arrives bigger than expected.

  • Tax bill

    “I found out my corporation tax the week it was due, after I had already moved money out of the company.”

    The cash had gone into a car and a holiday. The bill had to be funded from the next two months of invoices.

  • Day 90

    What changes once the advice is in the room

    You know which VAT scheme your cost base justifies, and why. You know what you can take out and when, before you take it. And you know the corporation tax number a month before HMRC wants it.

Quick check · no email

If your accountant cannot tell you whether the flat rate scheme suits your contracting costs, what your tax bill will be before it lands, and reply this week, you have the wrong accountant

Answer three questions about the accountant you have now.

Question 1 of 3

Could they tell you this week whether your VAT scheme is the right one for your costs?

A filing-only accountant against advice included in the fee

Both file on time. Only one of them tells you what to do before the decision is made.

The year-end accountant

Accounts and the CT600 filed accurately, usually months after the year end.

VAT scheme left as it was set up at registration.

Salary and dividend split copied forward from incorporation.

Advice is available, priced by the hour, and only when you think to ask.

Nexus

Accounts, corporation tax, VAT, payroll and your self assessment in one monthly fee.

VAT scheme compared against your real costs and reviewed as the work changes.

Salary and dividends planned against profit and your personal tax position.

Corporation tax and dividend headroom forecast a month before the bill, advice included on a fair-use basis.

Eight things to check on your contracting company

Answer these about your own set-up before you speak to anyone.

  • 01

    Has anyone compared flat rate against standard VAT on your actual costs?

    If not, the default scheme is being paid by habit.

  • 02

    Do you know your flat rate percentage and why it was chosen?

    The rate depends on the trade category you sit in.

  • 03

    Is your salary set at a level that suits your profit and your personal tax?

    Most contractors have not revisited it since incorporation.

  • 04

    Do you check distributable reserves before taking a dividend?

    Dividends taken beyond reserves create a problem at year end.

  • 05

    Do you know your corporation tax number before the year end?

    Knowing it early is what keeps the cash in the company.

  • 06

    Has anyone explained where your current contract sits for IR35?

    It changes what you can take and how you are taxed.

  • 07

    Is your director self assessment done as part of the company routine?

    January filing means decisions were made without the personal picture.

  • 08

    Do you speak to the same accountant each time you call?

    Rotation is why most contractors never get proactive advice.

What the monthly fee covers for a contracting company

One fee, everything the company has to file, with the advice built in.

Compliance

Accounts, corporation tax and VAT

Year-end accounts, the CT600, confirmation statement and quarterly VAT returns, prepared from books that reconcile.

Pay

Payroll and your self assessment

Payroll and pensions run on schedule, with salary and dividend planning and your personal return handled alongside.

Advice

VAT scheme, dividends and the tax forecast

Scheme review, pay planning and a corporation tax forecast a month ahead, included on a fair-use basis.

All Who we work with →

Entry 01

What the VAT check found for one consultant

One entry from the proof library, anonymised by type.

FigureFlat ratea consultant’s VAT bill fell every quarter after one scheme change, with no change to turnover
Found byThe set-up review: box 4 was almost empty, because his costs were overseas software and reverse-charge services.
ResultHe moved from the standard scheme to the flat rate scheme, the VAT bill fell every quarter, and he now gets his corporation tax and dividend position a month ahead.
AlsoThe same review runs for every new client, and sometimes the answer is that nothing should change.
Entry 02
Found by
Result

Clients described by type. Names withheld.

What clients say

More verified Google reviews appear here as they land.
Every card links to the review on Google.

How the first ninety days run

What happens between signing up and your first forecast.

Before day one

Your old accountant is dealt with

Professional clearance and records collection are handled here, so you are not chasing anyone.

Day 30

You know if your VAT scheme is wrong

Structure, VAT scheme, salary and dividends and software reviewed, with a written list of what to change and why.

Day 60

Your books are current, not annual

Bookkeeping and payroll on a routine, so the numbers are there when a contract or a purchase comes up.

Day 90

Your tax bill arrives early, from me

Corporation tax and dividend headroom forecast ahead of the year end, then a check-in every few months.

Who Nexus is not the right accountant for

Contractors in their first year or two of trading, still finding their feet.

Sole traders below the turnover level where incorporating is the obvious move.

Owners with lumpy income and no overheads who only want a return filed.

Anyone choosing an accountant on price alone, or unwilling to look at their numbers.

If you are outside that, the set-up review will tell you what to change before you commit to anything.

Questions IT contractors ask before moving

What does an accountant for IT contractors include in the monthly fee?

One monthly fee covers your year-end accounts, corporation tax return, confirmation statement, VAT returns, bookkeeping, payroll and pensions, and your director self assessment. Proactive planning is included on a fair-use basis: VAT scheme selection, salary and dividend planning and a corporation tax forecast a month before the bill lands. Capital gains returns are charged separately.

We already have an accountant, so is there any point in a review?

Often, yes. The set-up review checks your structure, VAT scheme, salary and dividend split and software, then tells you why each is right or what should change. Sometimes the answer is that nothing needs changing, and you leave knowing that. Most contractors have never had the whole set-up looked at in one go.

Do we have to change bookkeeping software to move to Nexus?

No. Software is reviewed as part of the set-up review, and if what you use works for a low-volume, high-value contracting company, it stays. A change is only suggested where the current routine means your numbers are out of date when a decision comes up. You are told the reason either way.

What happens with our current accountant if we switch?

Nexus handles the handover. Professional clearance is requested and your records are collected, so you are not chasing your old firm yourself. There is no separate charge for that. Once the records are in, the set-up review runs and you get a first-year timetable showing every filing date for the company and for you.

Is the flat rate VAT scheme better for IT contractors?

It depends on your costs, not your trade. Contractors with low input VAT, such as cloud subscriptions and overseas services, often reclaim very little on the standard scheme. One procurement consultant moved to flat rate after his review and his VAT bill fell every quarter with no change to turnover. The comparison is run on your figures.

Can you explain IR35 without the jargon?

IR35 asks whether a contract would look like employment if the company were not there. Where the end client is medium or large, the client makes that determination and the fee payer deals with the tax. Where it applies, more of the income is taxed like salary, which changes your dividend plan for the year.