Accountants with good deals for Dormant Ltd companies?

[gts]

Is it dormant or is it just not trading.

Sorry I didn't specify. It's currently not trading. It's not officially dormant (I think there's some bureaucracy involved in doing that).

[Alan @ BroomeAffinity]

Sorry I didn't specify. It's currently not trading. It's not officially dormant (I think there's some bureaucracy involved in doing that).

I think in that case my first post applies. How long have you been with them? They might take a view on it if you’ve been a client for a while.

[Alan @ BroomeAffinity]

Then why offer it at all?

That’s a good point. It’s a nice option to have if cash flow isn’t great but it eats into the margins so it’s not great business-wise for us. That said, it’s also a nice inducement to be able to offer if we’re trying to convert a warm prospect.

[WTFH]

Sorry I didn't specify. It's currently not trading. It's not officially dormant (I think there's some bureaucracy involved in doing that).

Are you "Not trading" because you don't have a contract currently but may do in the future, or are you not trading because you do not intend to go back to contracting?

[gts]

Are you "Not trading" because you don't have a contract currently but may do in the future, or are you not trading because you do not intend to go back to contracting?

Because I don't have a contract currently but hope to get one sorted soon.

[Jessica@WhiteFieldTax]

There does seem to be a general failure among some contractors to understand that accountants only work when you do. Most of the work we do is on an annual cycle and therefore whether you are benched or not is largely irrelevant. We've had contractors stop their DD to us because they're between contracts. It doesn't work like that. The monthly fee is essentially an annual fee payable in twelve instalments. Although that could possibly be communicated better.

Understand and agree, but unless I'm going cross eyes shouldn't there be a don't in there, "to understand that accountants don't only work when you do"?

[Jessica@WhiteFieldTax]

Sorry I didn't specify. It's currently not trading. It's not officially dormant (I think there's some bureaucracy involved in doing that).

Its not so much bureaucracy, as time. The definition of trading is "no significant transactions" - that means in the current financial year you can't be dormant as you've been trading, and neither can the company be dormant in the following year as you'll have a tax bill to settle. It takes to the end of the accounting period after next.

[Alan @ BroomeAffinity]

Understand and agree, but unless I'm going cross eyes shouldn't there be a don't in there, "to understand that accountants don't only work when you do"?

Indeed. Fixed. Thanks.

[WTFH]

Because I don't have a contract currently but hope to get one sorted soon.

OK, your company is not "dormant" and it is not "not trading". You are between contracts.

[Alan @ BroomeAffinity]

surely would be better to advertise then?
I'd pay a full year up front for 10% discount.

On the back of this, I did a quick straw poll on LinkedIn and, while definitely not enough respondents to make it comprehensive, 2 out of every 3 said they’d pay up front for 10% off. So it may be something we’ll look at. Thanks for planting the seed.