IR35 Advice for Contractors
We can offer you clear, comprehensive IR35 advice for contractors and freelancers
The question that arise are :
Is there a contract in place which specifies self employment ?
Is there a Master /Servant relationship between the parties ?
Can you send a substitute if you are ill ?
Do you supply your own tools ?
Do you advertise and contract to more than one contractor ?
Do you have Public Liability Insurance ?
Can you suffer a financial loss if thing go wrong?
These are some of the main things that have to be considered when considering employment/self employment status.
There are huge tax advantages in being self employed.
However It is important to reach to the correct decision .
H.M.Revenue & Customs could investigate your status in the future. If they were to decide to reclassify you under IR35 as employed rather than self employed, it would be very expensive. HMRC have powers to levy penalties and charge interest on up to four previous years liabilities. This starts from one third of the tax due.
Phrasing of contracts
It is vitally important to have proper phrasing of contracts and the undertaking of specified working practices in order to avoid IR35 being applied to your Company.
Calculate tax liabilities
If you are unfortunate enough to fall under IR35 then we can calculate your resulting tax liabilities.
Construction and Engineering Contractors and subcontractors
IT and Multimedia Contractors
Media & Creative Contractors