Greater London, England -- (SBWIRE) -- 12/17/2012 -- SJD Accountancy, a company that has been offering accountancy services for past 20 years, has recently published efficient techniques for working inside the IR35 and avoiding the involvement of umbrella companies. The company, which provides U.K.’s largest accountants to contactors, states even though working outside IR35 will always have more tax benefits, if a certain contracts does fall within the IR35 there are still ways to gain comparable profits. SJD Accountancy, ever since its existence, has been dedicated in helping contractors in accountancy and taxation.
SJD Accountancy, states that contract that are inside the IR35 will be more beneficial if worked through a Limited Company rather than using an umbrella company. According to the company, one of the reasons for the higher inside IR35 take home pay via Limited Company is due to the extra income gained from flat rate VAT scheme, which can’t be availed when using an umbrella company. Tax on only 95% off the income, non-existence of charges of umbrella companies and using various employer schemes are some of the ways contractors can benefit from not swaying towards the umbrella companies, states SJD Accountancy.
The company also states that there has been confusion amongst contractors, especially the new ones, on what is IR35. The company informs that a forum was setup in 2011 by the government to remove the confusion surrounding the IR35. To further clarify which contracts and specified working practices fall into the IR35, the HM Revenue & Customs (HMRC) introduced 12 voluntary tests and 6 scenarios, a set of questions which will help contractors understand their IR35 status, elaborates SJD Accountancy. Despite the availability of endless material on IR35 and the IR35 test, both available on the company’s website, SJD Accountancy suggests that it is best to get the contracts reviewed by the professionals. The company states that contractors can even call them for a free verbal IR35 contract review.
SJD Accountancy also provides accountants for freelancers and small to medium sized businesses. Other than offering nearly every type of accountancy service for new to existing businesses, the company is also famous for their extensive material and guide on operating or launching a business. The company states that their true intention is to help the people in operating personal businesses and offer efficient accountancy and taxation techniques in creating further profits.
About SJD Accountancy
SJD Accountancy is one of the leading companies in providing accountants for contractors, freelancers and small to medium sized businesses. Through their online platform, http://www.sjdaccountancy.com/, information regarding the various services offered by the company, numerous contractor resources, latest news on taxation and many other free materials can be viewed. The company has its offices spread in and around U.K. and has won many awards including the Best Contractor Accountants by Contractor U.K. every year from 2007 – 2011.
For more information about accountancy and taxation, or to schedule a meeting or interview with founders of sjdaccountancy.com, please call at 0500 152500 or 01442 275789.