End of Contract and Freelance Contractors in Scotland
Q. What happens when my contract comes to an end?
A. That depends on a number of factors, including whether you think you will be seeking another contract, returning to a permanent full-time job, or taking a sabbatical!
Q. What if I am looking for a contract but without success?
A. If it is your intention to return to contracting at some point in the future we would advise keeping your company alive but paying yourself off (i.e. terminating the payroll and taking a P45 from your company). We can then apply to have the company’s status changed to ‘dormant’ where it can stay until you are ready to use it again.
Q. What if my contracting career is over?
A. In that case we can again terminate the payroll and issue you with the P45, but in this situation we would take steps to prepare final returns for the company and commence the dissolution procedure. This is painless, inexpensive and avoids you incurring any costs associated with keeping the company alive.