As a contractor or self-employed professional in Britain, it’s essential to understand the complexities of IR35 legislation. IR35 legislation is designed to prevent tax avoidance by contractors who operate through intermediaries, such as personal service companies (PSCs). If you’re classified as inside IR35, you’ll need to pay income tax and National Insurance Contributions (NICs) as if you were an employee.
The recent changes to IR35 legislation have made it even more complex for contractors and self-employed professionals. The changes, which came into effect in April 2021, shifted responsibility for determining IR35 status from the contractor to the client or end-user. This means that if you work for a client in the private sector, they’ll be responsible for determining your IR35 status.
Key take-aways
- IR35 legislation is designed to prevent tax avoidance by contractors who operate through intermediaries, such as personal service companies (PSCs).
- If you're classified as inside IR35, you'll need to pay income tax and National Insurance Contributions (NICs) as if you were an employee.
- Recent changes to IR35 legislation have shifted responsibility for determining IR35 status from the contractor to the client or end-user.
- Navigating the complexities of IR35 legislation can be challenging, but it's essential to ensure that you're compliant and avoid costly penalties.
- AFMS Group provides IR35 compliance services to contractors and self-employed professionals.
- AFMS Group can help you determine your IR35 status, ensure that you're compliant with the legislation, and provide ongoing support to help you navigate the complexities of IR35.
Navigating the complexities of IR35 legislation can be challenging, but it’s essential to ensure that you’re compliant and avoid costly penalties. At AFMS Group, we specialize in providing IR35 compliance services to contractors and self-employed professionals. Our team of experts can help you determine your IR35 status, ensure that you’re compliant with the legislation, and provide ongoing support to help you navigate the complexities of IR35.
In conclusion, understanding and complying with IR35 legislation is crucial for contractors and self-employed professionals in Britain. The recent changes to the legislation have made it even more complex, but with the right guidance and support, you can ensure that you’re compliant and avoid costly penalties. Contact AFMS Group today to learn more about our IR35 compliance services and how we can help you navigate the complexities of IR35 legislation.
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