Contractors & IR35

Are you aware of the implications associated with the IR35 legislation? If not, then you should be as IR35 affects all contractors who do not meet HMRC's definition of 'self employment'.

 

The IR35 rules will result in an increased tax and N.I. liability and will prevent contractor companies from retaining profits to grow their business in the future. It is worthwhile to note that the cost of employees and employer's national insurance if incorrect are considerable especially when added to the associated interest and penalty charges.

These are not specific tax legislations and are therefore a fairly grey area; however, we can assist you in clarifying your status and draft contracts in line with regulations.

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