The April 2020 off-payroll changes to the private sector represent a massive challenge to the contracting industry. Here we have included some of the most common FAQs we’ve been asked about the IR35 reforms.
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Latest Articles
IR35 changes – Barclays, Lloyds and others to cease hiring limited company contractors
Barclays has told its contract workforce that it will no longer engage contractors who operate via limited companies, as a consequence of the forthcoming private sector IR35 off-payroll changes next April. Other firms are taking similar measures. … [more]
Closing your company due to the IR35 private sector changes? Things to consider
If you decide to cease trading via your limited company following the private sector IR35 changes in April 2020, you should take great care when chosing the best way to exit, as well as the alternative ways to operate as a contractor. … [more]
Limited companies – a complete guide for contractors
Most contractors work via their own limited companies. Aside from the tax benefits this structure offers its shareholders, the liability of directors is also limited. … [more]
What happens if you’re selected for an IR35 enquiry?
There is a huge amount of information available about IR35 and how to protect yourself. But what happens if you are actually selected for an investigation? How does an IR35 enquiry work and what should you expect if HMRC has lined you up as a target? … [more]
Guide to claiming phone and broadband expenses
While working as a contractor, you may run up a number of business-related phone and broadband expenses. So, how do you ensure that these expenses remain tax-deductible for your company and free of additional personal tax charges at year-end? … [more]
IR35 and ‘Confirmation of Arrangements’
To ensure your contracts fall outside the scope of IR35, you need to have an IR35 compliant written contract in place, and ensure that your working practices mirror the terms of the contract. One of the best ways to add strength to your proof of … [more]
How the Flat Rate Scheme (FRS) for VAT works
Introduced in 2002, the Flat Rate VAT scheme was put in place to provide smaller businesses with a simpler way of calculating their VAT liabilities. Here, we look at how the scheme works and explain how many contractor companies could pay less tax by … [more]
Your balance sheet and profit and loss account explained
You may have heard your accountant or bank manager talk about your “balance sheet” and “profit and loss account”. What do these terms mean, and what information can these documents provide you about your company? … [more]
Umbrella companies and the off-payroll working (IR35) rules
With the private sector off-payroll rules due to hit the contracting sector in April 2020, an industry expert explains what PAYE umbrella companies can offer contractors caught by the changes, and why you should watch out for unscrupulous operators. … [more]
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