IR35 is a legislation that has been around since 2000 but is changing in April 2021. Why you’re now aware of it is due to the shift in liability moving from the contractors working through limited companies over to you as the client. It will now be your responsibility to provide status determinations for each PSC working for your business.
Getting this process right is crucial.
The potential impacts on you if done incorrectly:
– Loss of the best talents and skills
– Cost: unpaid taxes + 100% fine + interest
Getting an agency involved can help mitigate this impact on your business as they become the fee payer as well as providing advice and experience surrounding IR35. In preparation for the forthcoming change in legislation, our Leadership team has attended a number of IR35 training events with the regulatory bodies so are fully informed on the latest IR35 updates and legislation.