The Great IR35 Test

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HM Revenue & Customs (HMRC) has just posted a series of tests and scenarios designed to help contractors determine whether or not they fall foul of the Intermediaries Legislation (IR35). This can have some dramatic effects on your contracts take home pay. You could be effected and lose a massive percentage of your contracts value. Some of the questions make it very hard to not be effected by IR35. An example question is Have you hired anyone in the last 24 months to do the work you have taken on? Are you able to send a substitute to your place of work in the event that you can not attend yourself? Your business must remain responsible for the work and for paying the person who does the work for you. If you can answer yes to all of these questions then you are not likely to be effected by Ir35. It is suggested to get good advice if you are in the mind or high risk sectors.
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Added: 1 year ago

Rank: 3556 of 5043 in Business

Tags: Tax, freelance, finance, finance advice

Source: http://www.bedouingroup.com/

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