IR35 Update from McGinley Group
by Mina Machacek
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We’re sure you will be aware of the changes to increase compliance with the existing off-payroll working rules (often known as IR35) coming into force in April 2020, but are you truly confident in how it affects you, if at all?
IR35 is a piece of legislation designed to tackle tax avoidance from ‘disguised employment’ – where self-employed contractors set up limited companies to pay themselves through dividends, which are not subject to National Insurance.
From April 2020 private sector firms will have to check whether contractors need to pay income tax and national insurance contributions, shifting the responsibility for conducting such checks from the contractor to the organisation using their services.
Please read our latest statement on IR35 here.