How our free mentoring works

Call 0203 2911 467, email mentoring@incomemadesmart.com or submit our Contact Form for a call back.

1. You explain. What are your working activities and arrangements?
2. We inform. Be confidently equipped to decide your accounting and tax decisions.
3. You choose. Choose the best tax and accounting arrangements.

Register once you’ve decided on your arrangements and you’ll be ready to get the appropriate service from IMS.

Mentoring in a bit more depth

Mentoring will help you understand your working options. These are the steps that the IMS team will lead you through when you contact us for mentoring.

If you are unsure how we as accountants can help you make your income smarter, work through our 3 step mentoring process to see how you could benefit. This process will enable you to make the appropriate choices so that your business, contracting, freelancing or employment activities will be compliant, tax efficient and financially rewarding.

Navigate through the 3 steps. You may wish to work through the steps with one of our IMS mentors who will help you learn about the business environment in which you choose to operate. Once you have worked through the last step you will be in a position to make a choice that is most suited to your circumstances and requirements.

Call 0203 2911 467, email mentoring@incomemadesmart.com or submit our Contact Form for a call back.

We support your choices by offering a full range of services and those of other service providers to help you implement your decision. If you know which service you require, navigate directly to services and complete the Quick Contact forms and we will contact you immediately to get started.

This first step is about you clarifying your working and business circumstances and what you hope to achieve from your activities. This requires gathering information about you, including how you currently generate your income and identifying your business goals.

To get started, you may find it helpful to answer the following questions to guide you.

  • Am I setting up a business or freelancing or seeking employment?
  • Am I concerned about limiting my liability, such as, in respect of negligence or public liability? (Info Centre: Ltd, LLP)
  • Do I want to be my own boss? (Info Centre: Ltd, LLP, Sole Trader)
  • Do I fall within or outside IR35?
  • Will I freelance in the Construction Industry?
  • How much income am I expecting to generate? (Info Centre: Tax Rates and Allowances, Personal Tax)
  • Will I contract from home or my own premises or clients premises? (Info Centre: Umbrella Companies)
  • How long will contracts endure? (Info Centre: Umbrella Companies)
  • How do I ensure that I am compliant? (Info Centre: IR35, Ltd, LLP, Partnerships, CIS)
  • What am I not considering?

You may wish to complete this step by speaking to an IMS mentor. This can be done over the phone, via e-mail or face to face.

The second step is about us informing you or pointing out sources of information so that you can inform yourself about the legal, compliance and tax matters affecting each activity. Go to our Information Centre and Services pages to browse the information under each section that you may be interested in.

Running Your Own Business

  • Limited Company
  • Sole Trader
  • Partnership
  • Limited Liability Partnership

Contracting

  • Agency PAYE
  • Umbrella

Employment

CIS

  • Construction Industry Scheme
The third step of the IMS Process is about making an informed decision that suits your circumstances and requirements. Depending on your evaluation of the information gathered during Step 2, your choices include:

  • Running a Business as a Limited Company, Sole Trader, in a Partnership or a Limited Liability Partnership.
  • Contracting as an Agency worker or through an Umbrella company.
  • Carrying on your activities in employment.
  • Construction industry activities which can be in or out of a CIS scheme.

If you are still uncertain about the best and appropriate choice to make, review the information in Step 2 and contact an IMS mentor.

Call 0203 2911 467, email mentoring@incomemadesmart.com or submit our Contact Form for a call back.

Once you have made your decision we are able to support you in implementing your choice. We offer a full range of support services and those of other service providers to help you take action to implement your choice. For more, select from our Services menu above.