Until recently, it was relatively straightforward to work as a contractor under a limited company, even if the contractor was working for most or even all of their time for a single employing organization. It was designed to identify individuals who choose to work under their own limited companies or umbrella companies to reduce their tax liabilities rather than being payroll employees – effectively being a “disguised employee,” at least as the tax authorities see it. This has been a long time coming IR35 is not a new concept. What does this really mean for your business? How can your organization comply with the new legislation? Perhaps most critically, how can you ensure you continue attracting the skills of top external talent to keep your business ahead of the competition? Reforms are kicking in that will put a very different lens on how you engage contractors, with a lot more responsibility on you as you engage people and work. Either IR35 is already high on your priority list or it’s about to be.
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