Redline Group releases Contractor Guide to Off-Payroll (IR35) Compliance
Redline Group has released its Contractors Guide to Off-Payroll (IR35) in the Private Sector.
The guide is designed to help navigate contractors through the minefield of IR35 and the often misunderstood tax rules which, if administered incorrectly, can carry large financial penalties. The guide helps them understand where they stand with the changes and what best practices they should maintain to keep their businesses compliant.
Peter Livingstone, director of contracts & interim at Redline Group, commented, “Redline’s approach has been to continually raise awareness of the impending changes to clients and contractors alike so there in the best position to navigate the new tax regime. It’s worth bearing in mind that while HMRC estimates a third of contractors could be affected by IR35 changes, it’s critical that every contractor has their status assessed thoroughly and fairly. Despite the original request by industry authorities to delay implementation of the changes until 2021, HMRC has confirmed that the new Off-Payroll (IR35) rules will be in force in April 2020 as planned.
“Even if you are not a contractor but a business that works with self-employed (Ltd) parties or an intermediary that helps place them, this guide will help answer any questions before the regulations take effect.
“It’s worth remembering that the contracting industry has survived many changes of legislation over the past two decades – many predicted the demise of the profession when IR35 was first mentioned in 1999. This never happened. However, the extension of the off-payroll rules to the private sector is, without doubt, the most fundamental change to the operation of Off-Payroll (IR35) since its inception.”
Image provided by Redline Group