With numerous different companies popping up ready to serve all the accounting needs of contractors, expertise on IR35 has become one of the benefits that accountants are readily promoting themselves as having. There is really no such thing as an ‘IR35 Accountant’ but those promoting themselves as such are generally contractor accountants who are well-versed on the subject.
But do you really need an IR35 savvy accountant?
Yes. Having a contractor accountant is very important as not only do we fulfil all your accounting needs, we also keep on top of changing legislations and guidelines which will affect your business’ success if not adhered to. In line with that, IR35 is an important topic and discussed largely amongst the contracting community for its potentially severe effects. With the way your payments are made to HMRC being effected by how you fair with IR35, it is important that your accountant is well educated on the matter so they can appropriately advise you.
It is advisable to also ascertain some level of knowledge of the legislation yourself as you will need to be aware of what you can and can’t do to remain compliant on a daily basis. Many companies may promote themselves as ‘IR35 accountants’ but may not really know that much on the subject so it is imperative for you to be able to find the right accountant. There is a wealth of resources freely available to you, otherwise, contact QAccounting today, your IR35-savvy contractor accountants.
Chancellor announces that IR35 reform will be scrapped
IR35 reform in both the private and public sectors is to be repealed, the Chancellor announced in the mini Budget, held on Friday 23rd September.
This surprise development made up just one of many welcome tax changes, as Liz Truss’s new-look government promised to start “a new era” and unleash the potential of UK business.
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