I was a contractor and did not have an accountant until the ir35 regime was established in 1999. I used to pay my employees via an intermediary who had good relationship with them. It was known as ‘disguised employment.’ This regime was started to tax such employments at the same rate that a normal employment would be charged. So, at this time I decided to hire an accountant who possessed the knowledge of the ir35 rules. Luckily I found one online. I was glad to know that the accountant had all the knowledge about the intermediary legislations.
The accountant explained all the financial consequences that would occur if I fell under ir35 and what measures I had to take to get in accordance with this rule. He also made it clear that if I would get caught by ir35, it would only do harm to me and not him. If I would get caught, I would have to draw income from my company as “deemed salary” which would be given to the income tax department. I changed my working practices as per the suggestion of my accountant and it paid off as I worked as an honest contractor thereafter. This website is reliable and the information in it is update regularly.
Tags: ir35 rules