Accountants for Project Managers
Accountancy Made Simple from only £89/month
Day rates, rolling contracts and an IR35 status that can change with every engagement. Caroola gives project managers a dedicated accountant who works with contract professionals every day, on a fixed monthly fee.
Whether a contract sits inside or outside IR35 changes what you take home from the same day rate, and that decision isn’t always yours to make.
Specialist Accounting Support for Project Managers
Our accounting for project managers is provided by accountants who work with contractors constantly, not a generic small business template.
You’ll get your own dedicated accountant, not a shared inbox or a rotating support team.
Support is unlimited, and quarterly check-ins mean your accountant is looking at your numbers throughout the year, not once, twelve months after the fact.
- Cloud accounting software included
- Annual accounts, prepared and filed
- Corporation Tax or Self Assessment, depending on your structure
- Advice on salary and dividend planning
- Guidance on engagements inside and outside IR35
- VAT registration and returns
- Tax planning reviewed every quarter
- Support switching from another provider
Who are these services for?
At Caroola, we work with project professionals of every structure, sole traders, limited companies and partnerships, whatever sector you deliver in.
That covers project managers, programme and portfolio managers, PMO leads, delivery managers, business change and transformation specialists, and project consultants working on contract. If you’re paid a day rate rather than a salary, we can help.
What Makes Accounting for Project Managers Different?
A permanent employee has one employer, one payslip and no decisions to make. Contract project managers move between clients on fixed-term engagements, each with its own status determination, its own rate, and often its own supply chain of agency and intermediary.
Two things decide what actually reaches your account: your status on each contract, and how you’re paid.
IR35 status by engagement:
Whether a contract is inside or outside the rules is decided per engagement, not per person, and you can hold both types in the same tax year.
Who decides your status:
Medium and large clients assess it themselves and issue a status determination statement. Where a client qualifies as small, the decision sits with your own company instead.
Umbrella working:
The agency at the top of the supply chain, or the end client where there's no agency, carries liability for PAYE an umbrella fails to pay over, which is why agency panels are restricted to accredited providers.
The 24-month rule:
Travel and subsistence to a client site stops being claimable once you expect to be there beyond 24 months, and the clock starts when you expect it, not when you hit it.
Rate and structure:
A day rate isn't a salary, and how much of it reaches you depends on your structure, your status and how you draw the money.
Why Choose Caroola for Project Management Accounting?
Built for Contract Work
Advice that reflects engagements starting and ending, not a single steady income.
Fixed Monthly Fees
One price, agreed upfront, that won't creep up as your rate does.
Your Own Accountant
Work with one dedicated accountant who understands contracting, not just employment.
No Hidden Costs
Clear pricing throughout
Grows With Your Career
From your first outside-IR35 contract to a company with subcontractors, your package adapts.
How Much Does an Accounting for Project Managers Cost?
Your core accounting is one fixed fee, whatever you're contracted on.
Packages start at £28 + VAT a month for the self-employed and £89 + VAT a month for limited companies, with partnerships priced around your setup.
Payroll for employees, bookkeeping, or management accounts are priced separately or included with an upgraded package, and always agreed with you first.
Sole Trader
- Self Assessment filing
- Bookkeeping software
- Dedicated accountant
- MTD ITSA software
- Corporation Tax & VAT filing
- Annual Accounts
- Real-time tax insights
Limited Company
- Self Assessment filing
- Bookkeeping software
- Dedicated accountant
- MTD software
- Corporation Tax & VAT filing
- Annual Accounts
- Real-time tax insights
Partnerships & LLP
- Self Assessment filing
- Bookkeeping software
- Dedicated accountant
- MTD ITSA software
- Corporation Tax & VAT filing
- Annual Accounts
- Real-time tax insights
Speak to a Project Manager Accountant Today
Ready to work together or interested in learning more? Get in touch with the team to start a conversation.
FAQs
- Can I Be Inside IR35 on One Contract and Outside on Another?
Yes, and it’s common. Status is assessed engagement by engagement, so you can hold an inside-IR35 contract and an outside one in the same tax year, and each is treated differently. Your accounts need to handle both cleanly, which is one of the main reasons contract project managers come to us.
- Who Decides Whether My Contract Is Inside IR35?
If the client is medium or large, they do, and they should give you a status determination statement explaining the decision. If the client qualifies as small, the responsibility sits with your own company instead. Size is measured on turnover, balance sheet total and employee numbers, and the thresholds are revised from time to time, so it’s worth confirming a client’s position rather than assuming it.
- Should I Use a Limited Company or an Umbrella?
It depends on the mix of work you’re taking. Outside-IR35 contracts usually favour a limited company. If most of your engagements are inside, an umbrella can be simpler. Plenty of project managers run both across a career. We’ll look at your pipeline rather than give you a blanket answer.
- Who Is Liable If My Umbrella Doesn't Pay Over the Tax?
Not you, in most cases. The umbrella runs the payroll and holds the primary duty, but liability for unpaid PAYE sits with the agency at the top of the supply chain, or the end client where no agency is involved. The practical effect is that agencies now restrict which umbrellas they’ll work with, so you may have less choice than you expect. Caroola is an FCSA Accredited Member, which is the standard most agencies check for.
- Can I Claim Travel to a Client Site?
Often yes, while the site counts as a temporary workplace. The catch is the 24-month rule: once you expect to be working there for more than 24 months, the claim stops, and it stops from the point your expectation changes rather than when you actually pass the date. Contracts that keep extending are where this catches people out.
- Can I Switch to Caroola Part-Way Through the Year?
Yes. No need to wait for year end. We manage the handover with your current provider.
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