What is IR35 and why is it important?
IR35 is HMRC legislation that manages the use of ‘middle men’ or intermediaries to supply any services that, in the absence of the “middle men”, would have been seen as employment for tax purposes. Some of your contacts or assignments may fall under IR35, which could have PAYE and National Insurance implications.
This may affect your company and you as a Director and is therefore important that you are aware of the legislation and how it can possibly affect you. HMRC uses a range of criteria to determine the status of your contacts. If you require more information on the criteria used we recommend you visit HMRC online. You are welcome to contact us if you have any questions.
If you are uncertain of your status you should consider IR35 insurance and ensure that you remember to read and be certain on what you are insured for.