Times are changing for the contracting sector as the government puts the onus on medium to large businesses to make assessments on their contract community employment status. Whilst all contractors are at risk of an IR35 investigation at any time, it is fair to say that most contractors have been happy to take the risk for some years. With the Public sector already having undergone this change in April 2018 we now know that it is likely the private sector will follow in April 2020.
This change poses the most significant threat to the contracting community in over a decade and will see people lose up to 50% of their income, should they be deemed to be a disguised employee. In most cases, contractors will have little consultation over the assessments that their clients will be making over the coming 14 or so months. This means contractors will need to ensure their own readiness and be in a position to demonstrate they operate their Ltd companies as real businesses and not simply a route to avoid a level of taxation and NICs contributions that employees are subject to.
Here at FindaSubstitute we want to help. We recognise that contracting is a great deal more than simply a way to avoid paying tax. Managing a company, accounts, managing client’s expectations, the next contract (s) and keeping on top of developing industry trends means that there is a level of responsibility that most employees never need to consider.
FindaSubstitute will help to make you more like Alan. We will give you access to a network of like-minded people, advice on how to run your business, access to professional materials, contracts that are ready for your use and more.
To find out about Alan and Jemima and consider who you believe you are most like, follow this link to the Government website.