IR35 Consultants in Kent
The term IR35 relates to legislation intended to apply a PAYE and national insurance charge on earnings from a company or partnership which is termed an "intermediary" by the rules.
Generally this affects personal service companies such as consultants.
Historically most consultancy companies have looked to extract their income from the company through high dividends and low salaries. By doing so the director can draw his income from the company at lower rates of tax. The legislation looks to ensure that where this income is really "disguised employment" that the income should be taxed with full PAYE and national insurance charged.
Get it wrong and there could be a very expensive bill waiting for you!
It is therefore vital that you seek our advice on all aspects relating to IR35.
We will help you through the maze of legislation from:
- Setting up your limited company.
- Checking your contract of employment and advising you as to whether IR35 applies.
- Registering your business for VAT (probably using the flat rate scheme) and PAYE.
- Setting up an effective accounting system for you which will ensure the complications of IR35, the flat rate scheme for VAT etc... can easily be dealt with..
Our advice will be designed to ensure that your planning is IR35 effective.