Are you a contractor, do you run your own business, or maybe you just do a little extra work on the side? If you’re not careful, you could easily fall into the Intermediaries Legislation 35.
If you’re self employed or about to go freelance, there’s one thing you need to be wary of and that’s the dreaded IR35. However, there are a number of benefits to being inside the IR35. Here we offer essential advice on the IR35 for freelancers in the UK.
IR35 is an abbreviation of ‘Intermediaries Legislation 35’ [...]
There are many differences from being a contractor than being a permanent employee. Of course there are advantages to being an employee – otherwise people wouldn’t do it! However, many people make the move into contractor-hood simply because it allows you that extra freedom, being your own boss and, ultimately higher pay.
To avoid your contract and working practices falling inside IR35 legislation, you will need to clearly show that the way you are working is that of a self employed contractor.Talking to a specialist accountant means they will be able to advise you on your current contracting situation and advise you on the best way to contract which will maximise your take home pay.