What is the best business structure for a UK consultant?
For most UK consultants earning more than around £40,000 per year and working outside IR35, setting up a limited company is the more tax-efficient choice. However, if your contracts are predominantly inside IR35, or you are just starting out on modest earnings, operating as a sole trader may be simpler. GoForma offers a free structure review as part of every initial consultation.
How does IR35 affect consultants in the UK?
IR35 is a set of tax rules that determines whether you are working as a genuine business or effectively as an employee of your client. If you are inside IR35, you may have to pay more tax and National Insurance. IR35 is assessed contract by contract. GoForma reviews every new consulting contract for IR35 status and advises on how to structure working arrangements to protect your outside-IR35 position where appropriate.
Does GoForma help me set up and use FreeAgent?
Yes. FreeAgent is included at no extra cost with GoForma's service, and we help you get up and running from day one. This includes full software setup, linking your bank feeds, invoicing and expense tracking walkthroughs, and ongoing support from accountants who use FreeAgent every day.
Can I switch accountants to GoForma mid-year?
Yes. GoForma makes it easy to switch accountants at any point in the financial year. We contact your previous accountant on your behalf, request your records and HMRC authorisations, and manage the entire handover. Most switches complete within a few working days with no disruption.
What expenses can I claim as a UK consultant?
UK consultants can claim a wide range of allowable expenses including a proportion of home office costs, travel to client sites at 45p per mile for the first 10,000 miles, professional indemnity insurance, professional body memberships, training related to your current specialism, technology and software subscriptions, and pension contributions. A GoForma accountant will review your expenses to ensure you claim everything you are legally entitled to.
Do I need to register for VAT as a consultant?
You must register for VAT if your taxable turnover exceeds £90,000 in any rolling 12-month period. Once you exceed this figure, you have 30 days to register. If your turnover is below £90,000, registration is optional but can be beneficial if your clients are VAT-registered businesses that can reclaim any VAT you charge.
What does an accountant for consultants do?
An accountant for consultants handles your financial and tax responsibilities, from setting up your business structure and preparing your Self Assessment or Corporation Tax return, to advising on IR35, VAT, and allowable expenses. At GoForma, you work with a named accountant you can contact directly whenever you need support.
What is Making Tax Digital and does it affect consultants?
Making Tax Digital for Income Tax (MTD for ITSA) is HMRC's programme to move tax reporting to a digital, quarterly basis. From 6 April 2026, self-employed consultants with gross income above £50,000 must keep digital records and submit quarterly updates to HMRC. GoForma is MTD-ready and will manage this process for all affected clients.
How much does an accountant for consultants cost?
GoForma offers fixed-fee packages for both limited companies and sole traders, all including a dedicated accountant, FreeAgent software, and all core HMRC and Companies House filings with no hidden charges. Get an instant online quote to see the right package for your situation.
