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Years of Experiences
At Firma Payroll Ltd, we provide comprehensive IR35 consulting services to assist contractors in understanding and adhering to IR35 legislation. Our experts offer tailored advice to ensure your contracts are compliant, helping you avoid potential pitfalls and optimise your contracting arrangements.
Thorough review of your contracts to determine IR35 status and provide recommendations for compliance.
Assistance in preparing and managing SDS to meet HMRC requirements.
Continuous guidance to help you stay compliant with evolving IR35 regulations.
IR35, also known as the off-payroll working rules, is a set of tax regulations in the UK designed to ensure that individuals working through intermediaries, such as personal service companies (PSCs), pay the appropriate Income Tax and National Insurance Contributions (NICs).
The legislation aims to prevent “disguised employment,” where individuals supply services to clients via an intermediary but operate similarly to employees.
Given the complexities and evolving nature of IR35 legislation, it’s crucial for contractors and businesses to stay informed and seek professional advice. Engaging with experts who specialise in IR35 can help ensure compliance, optimise tax positions, and mitigate potential risks associated with the legislation.
By staying updated on the latest developments and understanding the implications of IR35, contractors and businesses can make informed decisions and maintain compliant and efficient working relationships.
Fully Compliant
Starting from April 6, 2024, new offset rules will address the issue of double taxation under IR35. Previously, if HMRC challenged an ‘outside IR35’ determination, the employer had to pay all the Income Tax and NICs owed, even though the contractor’s limited company had already paid taxes, leading to double taxation.
The new rules will allow HMRC to collect an estimate of the difference between the taxes already paid by the contractor and the additional tax due, preventing double taxation.
The UK Budget 2024 proposes shifting PAYE compliance responsibilities from umbrella companies to recruitment agencies and end clients by April 2026.
This change emphasizes the need for businesses to reassess their contractor engagement strategies to remain compliant and manage costs effectively.
Recent reports indicate that over one in five contractors are not currently working, with half attributing this to the impact of IR35 reforms.
Additionally, over half of contractors have rejected work offers in the past year due to roles being deemed ‘inside IR35.’ These statistics highlight the significant influence of IR35 on the contracting landscape.
Join the numerous contractors who trust Firma Payroll Ltd for their payroll solutions. Contact us for a free consultation and discover how we can streamline your financial management.
Managing payroll and compliance doesn’t have to be complicated. At Firma Payroll Ltd, we take the stress out of payroll processing, tax compliance, and contractor management—so you can focus on growing your business
✓ 50+ Years of Expertise ✓ Fully HMRC-Compliant ✓ Fast & Reliable Payments
✓ IR35 Consulting & Support ✓ Dedicated Account Managers
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