Many of you who have been contracting for a number of years will already be aware of and understand the concept & impact of IR35. However for those that have never Contracted before you may want and need further information.
Until April 2000 there had been little confusion as most, if not all contractors operated through either an umbrella or limited companies. In doing so they were free to manage their income themselves, normally with the assistance of an accountant. If you have been contracting for a while you will know that historically this included, very low salary levels being drawn alongside expenses monthly, with a balance usually paid as a dividend.
Dividends were taken rather than salary as they do not attract National Insurance deductions, and some income was also passed to other individuals (normally people on low income such as working/non working spouses).
Above arrangement was working out in favour of Contractors and Taxman was loosing out. Hence the famous IR35 was brought in to prevent the payment of less tax and national insurance by using a personal service company or partnership to provide services through rather than being a direct employee.
The regulations are applied where a worker supplies services through a relevant intermediary (which can be a company, partnership or individual), to a client and had the worker contracted directly with the client, the income would have been treated as employment income for tax purposes.
There are plenty of good Accountants who can offer advice and inform you on your own status with respect to IR 35 and this is where their service will really stop.
What really differentiates us from other’s is that we will not stop there and will work with you to explore options to make your contract fall outside the scope of IR 35 as this can really impact on your Take Home pay.
How we can help you?
To begin with when you book up an ‘FREE No-Obligation Meeting’ with us we will advice you on your contract and an opinion on whether is fails or passes IR35
We will explain in details about the assistance we can provide in improving your contract for the purposes of defeating IR35 We can take care of all the aspect of the compliance work ranging from setting up of Limited company and registering you and your business with HMRC through to managing and maintaining your accounts and providing you with unlimited support for Tax planning opportunities.
And if this was not all, for existing contractors in dispute with HMRC or those who are unfortunate to have been caught up into investigation, we can help you with contentious status disputes with the Revenue so that it works out in your favour. This will however of course depend on individual circumstances of the case.
So if you are a ambitious contractors looking to maximise your Income by implementing all possible tax planning opportunities then I know you will love to meet with us
By Meeting us, there is nothing for you to loose and everything to gain. So book your free meeting today by simply filling in the form on right side this page or call us on 0208 931 0165.
We will love to meet with you soon.
If you are not ready yet then fill in your details below to receive FREE copy of Plain english IR 35 guide.