Two of the most prominent contractor and IR35 experts, Qdos and Parasol Group, have announced a significant partnership aimed at assisting companies through the off-payroll reform.
With less than six months until IR35 reform is enforced in the private sector, Qdos have partnered with renowned sector specialists, Parasol Group, bringing two of the most prominent contractor and IR35 experts together to help companies manage IR35 reform.
IR35 reform will be introduced in the private sector on 6th April 2020, resulting in medium and large companies becoming responsible for determining the tax status of the contractors they engage. As part of these changes, the fee-paying party, which is often the recruitment agency, will carry the IR35 liability.
As prominent advisers in the reform to the legislation in the public sector in 2017, Qdos provide one of the most trusted opinions on IR35. With further IR35 reform approaching, Qdos is supporting private sector companies in complying with their obligations under the incoming rules, offering independent status assessments backed by tax liability insurance.
The partnership now provides clients and agencies with the support of a trusted umbrella solution where a contractor is deemed inside IR35, with Parasol Group who work with over 3,000 recruitment agencies in the UK and manage the payments and accounts for over 100,000 contractors opting to work via an umbrella company.
For contracts deemed inside IR35, fee-payers can choose to engage contractors through an umbrella company – this is optional and not a referral service. Qdos does not benefit from this in any way.
Qdos CEO, Seb Maley, commented:
“We’re delighted to be helping more than 3,000 agencies minimise their IR35 risk by accurately determining the tax status of the tens of thousands of contractors they place in businesses. Our partnership with Parasol Group is an important step towards helping the recruitment industry successfully manage next April’s changes while also ensuring contractors have their tax status assessed correctly.
“Given Qdos conducts on average 2,000 IR35 status reviews every month and has handled more than 1,600 IR35 investigations, we have vast experience and a proven track record when it comes to IR35 compliance. Our knowledge and this partnership will be vital in protecting agencies and contractors and allowing end-clients to continue engaging these workers compliantly – whether outside or inside IR35 through an umbrella company.”
Mark Beal-Preston, CCO for Parasol Group, commented:
“As IR35 reform approaches, it’s vital that contractors have their tax status determined correctly – not just to protect the fee-paying party but to ensure independent workers themselves are taxed fairly. Working alongside Qdos Contractor, we are well-positioned to help thousands of agencies and in-turn, a vast number of contractors and end clients navigate reform”
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