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WHAT DOES INSIDE AND OUTSIDE IR35 MEAN?

‘Inside IR35’ means that you are considered, for tax purposes, an employee of your end client and therefore subject to PAYE. If you are operating ‘inside IR35’, you simply need to ensure you are paying the appropriate taxes, which usually involves a ‘deemed payment’ of income tax being made at the end of the tax year. ‘Outside IR35’ means that you are operating as a genuine business, and therefore operating outside of the IR35 rules. If you are operating ‘outside…

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How will Brexit affect contractors in the UK?

As a contractor in the UK, you may be thinking will Brexit have a positive or negative impression on your job. For now, the job market appears to be still going strong, but this may not remain the same shortly. So, what might Brexit mean for freelancers and contractors? Due to the uncertainty Brexit has caused, it’s unclear how contractors will be affected. However, Britain’s self-employed contributed £271 billion to the economy in 2017; this figure showcases the importance of such an…

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