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Limited Company Contractors FAQ - July 2022

Here are the most frequently asked questions we've received from Limited company contractors in July 2022, with answers from the experts at Orange Genie Accountancy:

What if I filed my P11d late?

A P11d only needs to be filed if you provide benefits to your employees, for example a company car or private medical. The P11d was due to be filed with HMRC by the 6th July 2022, if you have not filed your P11d on time, then HMRC will issue a penalty of £100 per 50 employees for each month or part month your P11d is late. You will also be charged penalties and late payment interest if you are late paying the Class 1A NIC. If you are late filing and paying, or unsure if you need to file a P11d, please contact your accountant.

 What is Orange Genie Complete?

Orange Genie provides a service whereby our Limited Company Contractors can also use our Umbrella services for FREE if they find themselves with a contract inside of IR35. You can keep your Limited Company open and running for the duration of the inside of IR35 contract whilst you are using Umbrella. Our fee to cover the Limited Company and Umbrella service is £120+VAT, so you would effectively be receiving the Umbrella services for FREE. Contact your accountant if you require the support of our Umbrella team.

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