IR35 - Off-Payroll Working

Make sure you understand the status of your contractors.

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IR35

There are so many different aspects to consider when you are running your own business, but thankfully we’re here to advise to help you look after your business finances. This can include guidance on off-payroll working rules and whether your contracts fall under IR35. We can also ensure that these contracts are accurately reflected within your statutory accounts.

IR35

What is IR35?

If your business makes use of contractors with specialist skills – or any other type of off-payroll workers – then you must comply with the IR35 off-payroll working rules. Like many tax-related rules, the IR35 rules are complex and require a good understanding of the legislation to ensure compliance.

IR35 rules were brought in to determine whether a contractor is genuinely self-employed rather than a disguised employee for the purpose of paying tax. These rules largely affect contractors and freelancers who have set up their own business. Before the rules came into place these workers would enjoy some tax efficiency due to the lower corporation tax rate versus paying PAYE and national insurance contributions.


What is new with IR35?

In April 2021, the new rules transferred accountability to the end client in deciding whether a contract falls under IR35. However, as your trusted advisors, we can give you peace of mind and ensure that you are following the correct rules regardless of whether you are a contractor, end client or agency.

Summary of benefits of service:

Offers peace of mind

Saves you time, allowing you to focus on more important matters

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Delivers accurate statutory accounts, which account for contracts falling inside and outside IR35

The determination of whether a contract falls inside IR35 or not is largely based on three principles:

Supervision, direction and control – how much say does your client have over how you perform your work?

Substitution – could you bring someone else in to complete the work?

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Mutuality of obligation - does your client have an obligation to offer work and do you have to accept it?

However, there are several other factors that must be taken into account, so for more information, get in touch.


Why choose Leewop for Your IR35 requirements?

The complex administration required for IR35 can be complicated and time-consuming however, Leewop can complete all the necessary work on your behalf. We can ensure that you are working in the most efficient and compliant way possible to comply with ongoing regulations.

At Leewop, our chartered accountants are experts in IR35 and can provide you with all the advice you need, taking the hassle out of your obligations so that you can focus on the things which matter most.

  • A single point of contact for all of your enquiries
  • National and international connections
  • A service that is tailor-made for you
  • Quick response time
  • Business heritage dating back over 120 years
  • UK -based accountants with national and international reach
  • Saving you valuable time with technology solutions
  • Hands-on partners who give you the best advice

Whatever type of organisation you are running, our team of business accountants in UK can help you ensure you’re set up for success. Contact us today for further advice or to discuss the next steps by calling us +92 302 4012116 or emailing contact@leewopconsultancy.com.

What’s next?

Arrange a consultation to find out how we can help you. Call us today on +92 302 4012116 or email contact@leewopconsultancy.com.

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Transitioning to Leewop from your current accountant is a swift and straightforward process.

Leewop is a prominent accountancy practice in the UK, catering to clients nationwide. Regardless of your location, we are here to assist you. We will allocate an accountant to help you grow your business and enhance its efficiency. Contact us to discover how we can assist you today.

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