Our contractors accountant services include ensuring that you are aware of the issues surrounding IR35.
Specialist support available to navigate through the issues surrounding IR35.
“IR35” is a piece of tax legislation announced in 1999, which took effect from April 2000. HM Revenue & Customs (HMRC) intention was to tackle tax and National Insurance (NIC) avoidance schemes through the use of intermediaries, such as a Limited Company.
All Contractors need to consider the IR35 issue, the application of which depends upon the engagement and the individual contractor's business. As you would expect, most contractors do not have a strong understanding of employment law and the principles involved, making it very difficult to determine whether you are ‘caught’ by IR35 or not.
The best approach a contractor can take to show they operate outside of IR35 is to be seen to be in business on their own account. There are a number of ways to do this, and there is professional guidance available to ensure you minimise the risk of your company operation being caught by IR35. If you would like to know more, please download the below documents. Again, if after reading this information you have any questions or concerns, please get in touch.
Once these basic elements are in place, we will ensure your company is correctly registered with the HMRC for Corporation Tax, and PAYE. We can also advise you on VAT registration.
No Worries operates on the basis that all our clients using a limited company do so with an awareness of the issues surrounding IR35.
Want to assess your IR35 status? Take a look at our IR35 contract review information.
IR35: information for contractors regarding the issues surrounding IR35