Very few accountants have access to IR35 experts and experience in supporting contractors. QAccounting is working alongside specialists IR35 accountants that have worked at the forefront of IR35 compliance since the legislation was introduced nearly 20 years ago.
While not a technical term, an IR35 accountant should specialise not only in the needs of contractors but also in the complex tax legislation known as IR35. As you might well know, the IR35 legislation is in place to prevent contractors from working as ‘disguised employees’ and therefore paying less tax.
An IR35 accountant should be able to recommend a supplier of IR35 insurance, which will cover the costs of representation should HMRC open an investigation. Some policies will also cover any back taxes you may be found to owe following an IR35 enquiry. Given such investigations can add up to eye-watering amounts rapidly, it’s worth having this cover for peace of mind – even though from 6th April contractors will not carry the IR35 risk unless they are engaged by a ‘small’ private sector firm. This is because HMRC can look into contracts that finished up to six years ago.
With over 20 years’ experience in supporting contractors, QAccounting is one of the UK’s leading contractor accountants. Offering a range of trusted accountancy services, including IR35 contract reviews through our partner, Qdos Contractor, we are rated 9/10 by contractors.
