IR35 Plays Big Part in the Future of Contracting

Contractors from across the nation met last Thursday in the city of London to meet, debate and discuss some of the most pressing issues facing modern day contractors, as well as finding out some of the latest advances and innovations from some of the industry’s most progressive and forward thinking companies.

With a large array of talks, from contactor accountancy to business banking, the event, hosted by The Future Consortium succeeded in its aim of reaching contractors and shedding some must needed light on the future of the ever growing profession.

IR35 Specialists

Renowned tax experts and IR35 specialists Qdos Consulting had a huge presence at the event, Director Seb Maley giving a well responded talk highlighting the importance and effects of the IR35 legislation, touching upon the recent updates made by HMRC and the future of contractor tax. Off the back of their expertise, Qdos have created a number of insurance policies to cover contractors and currently have over 20,000 contractor and freelancer clients on their books, making them a great example of reputable services to contractors.

Seb’s talk touched upon some of the key issues contractors have with IR35, illuminating frequently asked questions and concerns regarding the often confusing legislation. Opening with a background into HMRC’s involvement with contractors, describing IR35 as ‘A thorn in their side (contractors) since the year 2000’ Seb gave a brief history of the IR35 rules and the legislation, followed by the changes HMRC have issued up until the present day.

IR35, as many contractors will already know is something that is beginning to take effect more and more over the past year, and certainly shows no sign of slowing down in the future. As Seb explained, the number of HMRC inquiries have doubled, and HMRC themselves have begun to appoint and delegate specialists to tackle and combat ‘disguised employees’. This fact is a huge concern to any contractor aware that they may be under potential scrutiny, as now teams of people exist to target contractors from an IR35 perspective.

IR35 Enquiries

With the potential for HMRC to carry out 2,000 enquiries a year, Seb offered some much needed illumination to London’s contractors, clarifying some much debated queries along with giving fresh information from the ‘front lines’ of tax expertise.

Qdos boast extensive knowledge of UK tax issues, and specialise in IR35 and contractor related matters. If any contractor has any query or concern regarding their professional status and IR35, or simply wants a greater knowledge into the legislation, then it is advised that they contact Qdos immediately.

By:Steven Bailey

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