Contractors working via a limited company (PSC) beyond April 2021
From April 2021, off-payroll working rules (IR35) will be rolled out into the private sector, meaning any contract you accept or are currently working on will have a predetermined IR35 status. Your contract will either be ‘inside IR35’ or ‘outside IR35’. Because of this, you may find yourself inside IR35 and need to recruit an umbrella company’s services.
We appreciate that this is a massive change for contractors and realise that the increased tax implications should not be taken lightly. We wanted to offer a service that allows you to navigate this new contractor landscape.
If your current engagement falls inside IR35
Together with our sister company SmartWork, we came up with the Dual Service package that gives limited company (PSC) contractors the flexibility to easily move to work through an umbrella company if required, and at the same time have their company close at hand. Limited company and umbrella income all taken care of under one roof and a single point of contact.
Why would you want to keep your limited company?
It is a fact that trading via a limited company is the most tax-efficient way of contracting, so we wanted to offer a solution that lets you work via the best solution suited to your contract and maximise your tax-efficiency.
There are, and will continue to be outside IR35 contracts offered by companies and to have your company ready to trade at a moments notice will give you the unique advantage to pick them up.
What services will you get and what are the costs?
For an annual fee of £1,140 +VAT, which will be split into 12 monthly instalments of £95 +VAT, you receive:
- Umbrella company services for any contract(s) in the year.
- Dormant company accounts and company tax returns prepared.
- Company secretarial services.
Like our other accountancy packages, the Dual Service package is flexible to be adapted if you require additional services as your circumstances change, e.g. management accounts and company payroll.
Compliance and contractor care
MyAccountant has worked in partnership with SmartWork for many years, with both companies sharing the same philosophy for contractor care. SmartWork is also a full FCSA member meeting the strictest industry compliance rules and contractor services standard.
Please contact either SmartWork or MyAccountant for more information regarding our Dual Service option.