What is IR35 and how can it affect the tax a contractor pays?
Posted in Accountants, IR35, Langricks, Michael Bell and Co, SME, SME Businesses, Tax, Tax Bills, Tax Panic, Tax Returns, Tax Rises, Tax Savings, Taxman
Contractors falling inside of IR35 could see their net income reduced by up to 30%, so it’s important to have a good understanding of what IR35 is and how it works. In a bid to encourage entrepreneurship, the government offers tax benefits to contractors working as limited companies to reduce the risks involved with setting…