IR35 - Are you Protected?
The third in the series on IR35, we look at insurance.
The second in the series on IR35, we look at payments for contracts inside IR35.
From April 6th, if a contract is deemed ‘Inside IR35’ you will be responsible for deducting all appropriate taxes at source and passing them through to HMRC. It is imperative that you have the right tools and processes in place to make this as seamless as possible and keep your business on the right side of HMRC’s guidelines.
There are a number of ways to manage an inside IR35 payment.
It can be a minefield, but you must ensure you have a compliant method for deducting tax at source and passing it through to HRMC.
YunoJuno’s end to end solution gives you the flexibility and protection to continue working with your freelancers in what ever way you both want, ensuing your tax obligations to HMRC are met and removing the headache of compliant payments.
Our IR35 Management tool - IR35 safe will help with your payment needs.
IR35 Safe by YunoJuno is the end-to-end IR35 solution created by the UK's largest provider of premium freelance talent. With IR35 Safe, companies can hire freelancers with confidence as well as manage all compliance issues on an easy-to-use platform. Collaborating with experts in tax, legal, finance and human resources, IR35 Safe delivers what your organisation needs to get in front of HMRC’s legislative changes.
The IR35 Safe tool not only insures classifications during the time of the engagement, it is backed by Zurich Group with a 4 year coverage post contract completion.
To do the assessment you need to think carefully – it has more to do with working practices on the ground than contract terms but there are a number of factors that need considering. Being appropriately prepared will save your business time, money and keep you on the ride side of HMRC.