Flex is our new solution for contractors, allowing you to work flexibly between your Limited Company and an Umbrella solution depending on the IR35 status of your current assignment.
Flex is perfect if you find yourself inside IR35 and as a result are needing to utilise an Umbrella Solution but you do not want to close down your Limited Company, providing you with the ability to keep and work through both.
If you’re inside IR35 now but planning on being outside on future assignments, then by using Flex, you can put your Limited Company into non-trade status during the period you are working via an Umbrella, ready for it to be placed back into trading once you need it again.
If you’re working on multiple assignments with differing IR35 statuses, then Flex allows you to keep your Limited company open whilst also becoming an Umbrella employee. By having both working options through one provider like Brookson, you benefit from a number of things: one dedicated portal to manage your limited company and raise timesheets as an Umbrella employee, a combined tax return and proactive advice through you’re named accountant who is best placed to identify tax saving opportunities as a result of having a complete view of your earnings.
FLAG – It’s important to still be preparing for the IR35 changes to the private sector even with the delay. – this still needs to go, as it stands the change has just been delayed