New-Blog-JGBC Accounting|Bookkeeping|Payroll & Taxes|business advice consultancy|start up|micro and small businesses|quickbooks|quickbooks online uk|new business ideas

How ir35 effects contractors

How ir35 effects contractors

At the time of writing this blog the IR35 changes are due to role out across the private sector in April 2020. There are a lot of questions about these changes and how they impact contractors.

The first thing to remember is that this rule impacts on contractors that operate through their own LTD’s or Partnerships. If you operate as a sole trader then the rules do not impact on you.

The next thing to remember is that if you work as a contractor for a small company, under £10m a year turnover, then you will not be effected by the changes.

If you are a contractor that trades through a LTD then you will be accessed by your contract provider to judge if you full within the IR35 captment. If you would like to check for yourself you can use the tool from HMRC in the link below.

HMRC’s IR35 Test

Share

Share on facebook
Share on twitter
Share on linkedin
Share on email

Leave a Reply

Your email address will not be published. Required fields are marked *