IR35: What do the new rules mean and am I affected?
What is IR35? IR35 is a tax law created to prevent avoidance, ensuring individuals in ‘disguised employment’ pay taxes at a similar rate to regular employees. The focus is on contractors seen as ‘deemed employees’ by HMRC, rather than legitimate contractors. What are the IR35 off-payroll working rules and do they apply to me? […]
IR35: How this could affect you and your company
Understanding the Implications of IR35 for Company Directors IR35, also referred to as the Intermediaries Legislation was initially enacted in April 2000 as a government initiative to curb tax avoidance. The legislation was built on the idea that independent contractors could evade tax obligations by operating through an intermediary, such as their own limited company, […]
IR35: How the Public and Private Sector reforms affects contractor
What is the IR35 Public Sector and Private Sector Reform for Contractors? IR35 is a legislative measure crafted to tax ‘disguised employees’ at a rate akin to regular employees. A ‘disguised employee’ refers to an individual who functions as self-employed through an intermediary, like a personal service company, aiming to evade National Insurance Contributions (NIC) […]
Understanding IR35, CEST, and the new April 2020 rules
How do the April 2020 rules affect IR35? From April 2021, new rules will impact IR35 legislation, affecting contractors using a Personal Service Company (PSC) and the medium to large businesses in the private sector hiring them. Originally scheduled for April 2020, the implementation was postponed due to the COVID-19 pandemic. These changes shift more […]
Dedicated advice for freelancers and contractors
Accountancy advice for contractors and freelancers including IR35 HMRC has the authority to levy substantial penalties on freelancers and contractors who neglect to adhere to their accounting obligations. Ensuring accurate bookkeeping, maintaining proper financial records, and submitting tax returns punctually are among the utmost crucial business responsibilities. HMRC retains the right to scrutinise your working […]