This is important for anyone that works as a consultant or contractor – if you know of anyone in this situation, please pass this on.
IR35 has been a sword hanging over the head of business for years. It is the tool that HMRC use to extract huge amounts of additional tax from people that provide their professional services as a contractor through a limited company. After revelations that many government advisors use this tax planning method (it is not tax avoidance), the government announced a review. The date of the review publication is now set for 7th May (yes, a bank holiday).
Because of this we’ll be working that day on understanding the new rules/tests, and trying to assess the likely impact. We will be publishing a free guide to the new rules, so if you would like a copy, please contact us.