Save your company with SJD Accountancy

Six months half-price dormancy fees

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As a sister company of SJD Accountancy, we share the same dedication to providing the best service, no matter where you are in your contracting career. If you’ve decided that an umbrella company is the best solution for your circumstances, you don’t have to compromise on quality.

Since 1992, we’ve supported more than 10,000 contractors and freelancers, offering them the freedom of self-employment without the hassle.

Are you affected by IR35?

If you are a limited company director, you’re likely quite familiar with IR35 legislation. Whilst IR35 has been around since 2000, changes were made to its application in the public sector in 2017. During summer 2019, draft legislation was also published for similar reforms in the private sector to come into force on the 6th April 2020. 

Are off-payroll reforms affecting you?

You may have been informed by your client that your assignment (which up to now has been classed as outside IR35) is going to fall inside IR35 once the April 2020 changes come into effect – or you might be concerned about the status of future contracts after April.

A change from outside IR35 to inside IR35 means that you will no longer have access to the tax benefits afforded to limited company directors. Although this news might not be welcomed, it is certainly not a reason to panic; it doesn’t have to be the end of your contracting career.

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

One such option to consider is keeping your limited company, but making it dormant, while working under an umbrella company so that you can continue to work on assignments inside IR35 as an employee.

A dormant company is 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?

Keeping your limited company dormant while you step away for a while gives you the best of both worlds: you can complete your assignments through an umbrella company without worrying about your IR35 status, and easily resume trading again in the future.

If you shelve your limited company and continue working on assignments that are caught by IR35, you have the benefit of staying entirely compliant on current contracts, as well as having your own intermediary available to resume if you are able to find an assignment that is outside IR35.

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 SJD Accountancy, 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, SJD Accountancy 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 SJD Accountancy – fill out the form below to have one of our specialist advisors contact you to discuss the process. 

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