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What is an IR35 Accountant?

With online information and misinformation on IR35 rife within the industry, we discuss what contractors should look out for when seeking correct information on HMRC’s legislation. With more and more professionals operating via personal service companies, having the right support in place is vital. We take a view of what is an ‘IR35 accountant’.

IR35 Specialists

Ever since the introduction of the intermediaries legislation back in 1999, Qdos has remained a pioneering expert in the handling of IR35 for Ltd company contractors with over 1,500 cases defended with a tax saving of over £35 million. Qdos is renowned within the industry as one of the leading authorities in status, compliance, and the IR35 legislation. Our in-house team was set up by ex-revenue inspectors and are fully trained in the ins and outs of the bill and contractual compliance.

IR35 Specialist Accountants

Having an accountant who understands the many nuances of the IR35 legislation is vital in operating a successful Ltd company. It is important to remember that IR35 affects anyone who is using a PSC to provide their services to a client, so it should be something that all contractors seek an understanding of. This being said, much like VAT or cooperation tax for example, having an understanding of these will only get you so far, and having trained professionals with an expert knowledge of the industry is something that may prove invaluable.

An IR35 savvy accountant should know the legislation inside out and should be able to provide pro-active advice and guidance of the engagement of a contractor’s Ltd company and their agency or
end-client. From the initial contract, an IR35 accountant should be able to provide an in-depth analysis of each clause within, providing comments and if required recommendations of individual amendments if these clauses are not deemed as compliant.

Other than an initial IR35 contract assessment, an accountant should be able to comment on the actual working practices of a contract, particularly whether or not the working arrangement between the contractor and the end client reflect those outlined in the contract. Although a
compliant contract can stop an HMRC investigation dead in its tracks, having compliant working practices is very important if defending an IR35 case. If the working methods are not compliant then the contract, regardless of whether it is compliant, is no longer relevant.

As well as support and IR35 services, a compliant accountant should also have their ear to the ground and should be able to update and provide information to their clients about the legislation and any upcoming changes. As a contractor, it is essential to ensure that you are receiving
appropriate and up to date information on IR35.

To anyone looking at appointing an accountant, or are re-assessing their current accounting provider, Qdos recommend that you ask yourself the following questions:

  • Does your accountant understand IR35?
  • Is your accountant an IR35 specialist?
  • Does your accountant provide IR35 contract reviews?
  • Can your accountant assess your working practices?
  • Will your accountant keep you up to date on changes and updates in the legislation?

For further information, download our IR35 Survival Kit today or contact our team.