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4
IR35 - The Facts |
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* * *
Try Our IR35
Solution * * *
Keep 80% of your income - no IR35 or MSC risk - no admin hassles !!!
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Where a person interposes a limited company
between themselves and their employer,
this company is known as a Personal Service Company
(PSC). The benefits of this are that
employer's NIC and employee's NIC can be
avoided. The government became concerned at this and
IR35 was introduced.
The rules state that the
PSC must be able to demonstrate that it
has the "badges of
trade" - otherwise the individual will be caught by the rules and will have to
pay the same tax and NIC as all other employees.
In a tax investigation, the contract between the PSC and the contractor's recruitment consultant
and the contractor's practical working arrangements will be a pivotal area. An
IR35
review should therefore
always be obtained for each new engagement.
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4 IR35 - Contracts and compliance |
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| PASS - If you can answer
"yes" to the following,
your contract may beat IR35: |
| Does your company bear the financial risks of failure ? |
| Does your company profit from
sound management in performing a contract
?
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Does your company have the right
to send alternative personnel
?
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Does your company bear the risk
of bad debts ?
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| FAIL - If your answer to the following
is "yes",
your contract may not beat IR35: |
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Is the contract a "Service Contract"
rather than a "Contract for Services"
?
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Are
you entitled to sick
or holiday pay ?
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Is the relationship between you and
your client one of "master and servant"
?
But as we mentioned above, it will be your
contract AND your practical working
arrangements that will be under the microscope
in an IR35 investigation. Protect yourself and
ALWAYS get an
IR35 Review
for each new engagement.
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4 IR35 - Who decides if I pass or fail ? |
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The rules place on the contractor the
burden of deciding if a contract passes.
If you can answer "yes" to the first
set of questions and "no" to the second,
your contract may pass. But you need to make sure
your practical working arrangements pass as well. If you need help deciding if
your contract and practical working arrangements
pass, please visit our
IR35 Contract Review
screen. We offer a 48 hour contract review service which analyses your contract on a clause by clause basis.
If you register for our
IR35 Solution you will not need to worry about contract reviews at all. You will
be paid under PAYE (which means IR35 is not at issue) - but will still retain 80% of your income!
Click here to find out more about our fantastic
IR35 Solution
NOW
!!!
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4
IR35 - Insurance |
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Even if you think ( or have been advised ) that your
contract and practical working arrangements pass, you
may wish to purchase IR35 insurance - or "Professional Fee Protection". This protection
can cover you for the professional costs of defending an IR35
investigation and may also cover the costs of defending other types of tax enquiry too. A
good scheme will usually cover you AND your company for ANY type of
tax enquiry.
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If you register for our
IR35 Solution,
you will not need to worry about an IR35 enquiry. Although you will keep 80% of your income,
you will still be paid under PAYE which means IR35 is not at issue.
Click here to find out more about our fantastic
IR35 Solution
NOW
!!!
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4
IR35 - Try our IR35 Solution |
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Put your IR35 and MSC worries behind you and
register for our fantastic IR35 Solution. Ideal for the IT
contractor and other self employed professionals, it lets you keep 80% of your income,
eliminates your IR35 and MSC risk, and takes away all your admin hassles. You just have
get on with earning the money. If you are interested...
Click here to find out more about our fantastic
IR35 Solution
NOW
!!!
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4
IR35 - More Information
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