This guide will help you understand everything there is to know about IR35 including what IR35 is, the rules and regulations relevant to you and how to determine your employment status for IR35 compliance. We also run through the changes that took effect in April 2021, and give you tips and advice on what to do now these changes are in place.
This guide will detail the recent changes made to IR35 by HMRC, explain exactly what IR35 is and outline the rules relating to the IR35 legislation and how they may affect you.
IR35 is the industry name for a specific part of the Finance Act 2000. It aims to prevent people avoiding tax by working as self-employed contractors through an intermediary limited company, while performing the same function as regular employees.
The legislation says that these kinds of contractors are in fact ‘disguised employees’ and should be subject to the same Income Tax and National Insurance Contributions (NICs) as regular employees.
In other words, the legislation ensures that if the relationship between the worker and the client would have been one of employment if it wasn’t for the intermediary, the worker pays tax and NICs roughly equivalent to an employee.
For over 20 years, we’ve provided accountancy, tax and support services to over 90,000 contractors, freelancers and self-employed professionals - it’s what we specialise in and it means we’ve been able to develop a unique service that is innovative, friendly and easy to use.
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