Limited Companies need more support, says IPSE

(1 minute to read)

IPSE: ‘The Self-Employment Income Support Scheme is very generous – it’s unprecedented – but it’s got sharp edges. If you fall inside it, it’s good, but if you don’t, you get nothing.’

The Association of Independent Professionals and the Self-Employed has told the Treasury Select Committee that Limited Company contractors and those new to contracting need more government support.

Andy Chamberlain, Director of Policy at IPSE called for the government to extend the coronavirus Job Retention Scheme to include dividends, in order to help out Limited Company contractors.

He also suggested for new contractors to be able to submit their tax return for this year so they can use this information to allow them access to the Self-Employment Income Support Scheme.

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Chamberlain, commented, “The Self-Employment Income Support Scheme is very generous – it’s unprecedented – but it’s got sharp edges. If you fall inside it, it’s good, but if you don’t, you get nothing.

“If you earn one penny over £50,000, you get nothing. If you only recently became self-employed, you get nothing. If you’re working through your own limited company, you get nothing under this scheme – although you may be able to get something from the Job Retention Scheme. What we’re saying is: the support available under the SEISS scheme is brilliant, but can we now get support for the people who are clearly falling through the gaps of it.”

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Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email or