Preparation is key for any large tax legislation changes and ADVANCE, having successfully navigated supervision direction and control in both Self-Employment and Umbrella with Expenses, know this better than anyone.
HMRC have recently published guidance recommending steps to prepare for the IR35 changes and ADVANCE advocate this proactive approach. Agencies need to be engaging with their end clients now to understand how many PSC/Ltd contractors they have with each end client, which of these roles may be affected and what the financial implications of an ‘inside IR35’ decision will be on the End Client’s costs, the Agency’s profit and the Contractor’s take home pay.
The IR35 changes expose agencies to potential risk, as although the end client will be responsible for determining the contractor’s IR35 status, the agency (as the fee payer) will be liable for enforcing the end client’s IR35 decision and collecting evidence that the end client has provided reasonable care in their IR35 determination.
Having experienced similar IR35 changes coming into effect in the public sector in April 2017, ADVANCE has seen first-hand the costly implications of late planning, poor communication and rushed decisions. Burying your head in the sand is not an option!
Use the time that you have now to prepare: By partnering with an industry expert you can present a credible, innovative and insurance-backed option to your end clients which will help you remain compliant whilst retaining the best candidates more cost effectively than your ill-prepared competitors.
As IR35 experts, ADVANCE are producing a series of podcasts with industry leading advice, which will allow you to make informed decisions when speaking with your clients and placing contractors.
All podcasts will answer numerous questions that we’ve collected from concerned agencies, contractors and end clients in a clear and straightforward manner.
- IR35 – the basics.
- IR35 – how IR35 works
- IR35 – who is liable?
- IR35 – potential impact to end clients
- IR35 – the role of the agency
- IR35 – advice for contractors and insurance options
Complete the below now to receive ADVANCE’s IR35 Expert Podcasts!