Save your company with Nixon Williams

Six months half-price dormancy fees
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As Nixon Williams’ sister company, we share the same dedication to providing the best service possible. Whether you’re new to contracting or you’re a seasoned professional, you can rest safe knowing that our service and dedication will never waver. Whether you’re contracting through a limited company thanks to Nixon Williams or working under our umbrella solution, you’re in safe hands.

For over 20 years, our employment solution has helped contractors to take charge of their career, safe in the knowledge that their finances are taken care of.

Are you affected by IR35?

From its inception in 2000, IR35 legislation has undergone changes to its application. These changes were first seen in the public sector in 2017, and in late 2019, draft legislation was published for similar reforms to the private sector and are due to come into force on the 6th April 2020.

As a limited company director, you’re likely all too familiar with the reforms and you may have been wondering how they may affect the status of your future contracts come April.

Are you affected by the April 2020 reforms?

On assignments that have historically been deemed outside IR35, you may have been briefed by your client in anticipation of the reforms that your contract will be classed inside IR35 in the new tax year.

This change translates to you no longer having the same access to the tax breaks you enjoyed as a contractor not caught by IR35. This is not a cause for concern – and you should remember that it is not a reason to end your contracting career.

Have you had a chance to consider your options – not only for the interim, but long-term?

By making your limited company dormant and simultaneously carrying out assignments as an employee of an umbrella company, you are no longer constrained by IR35 and you have the added benefit of easily resuming trade through your intermediary again in the future.

A dormant company is simply one which has been registered with Companies House but is not actively trading or receiving any form of income.

Should you make your limited company dormant?

Should you decide to shelve your limited company and work as an umbrella employee, you have the reassurance of operating compliantly while inside IR35, and picking up where you left off should you find an assignment outside IR35 down the line..

It’s important to remember that if a dormant company participates in any kind of trading activity or generates income, it will forgo its inactive status.

Save Your Company

Through our sister company Nixon Williams, we can manage your limited company whilst providing a compliant umbrella solution until you’re ready to start trading again. As a Parasol employee, IR35 is no longer a factor you need to worry about.

As an added benefit, Nixon Williams is offering 6-months half price on dormancy fees when you sign up for this offer.

Staying true to our promise of being with you all the way, our bespoke offer can provide you the avenues to confidently continue – irrespective of the challenges you may face later this year.

Enjoy having all your bases covered through Parasol and Nixon Williams – fill out the form below to have one of our specialist advisors contact you to discuss the process.

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