Up until now contractors have been responsible for their own IR35 status determination and tax and National Insurance contributions. However, in April 2021 that is all due to change and IR35 status determination will become the responsibility of the end client or hirer. Meanwhile, tax liability will then sit with the “fee payer” who must deduct tax and national insurance contributions and report using Real Time Information (RTI).
It is vital that companies prepare for the changes in IR35 legislation in order to ensure a smooth transition and reduce impact. Our IR35 Status Determination and insurance service can help you do this with full peace of mind.
With upcoming IR35 changes, end clients or hirers must decide whether a contractor is inside or outside of IR35 while ‘fee payers’ must calculate and deduct tax from a contractor’s pay.
If an IR35 evaluation is incorrect, or, the amount of tax paid is incorrect, businesses will face liability which is likely to be costly.
With this in mind, we have created our unique IR35 Status Determination and Insurance service which includes:
In this way we can help business remain compliant when IR35 legislation changes come into play whilst providing insurance and reassurance to contractors and businesses alike.
Optimus Shield is the result of heavily invested research and development to tackle the issues now facing the private sector due to changes to the IR35 legislation being rolled out in April 2021.