From April 2017, the new IR35 rules will see the responsibility of determining the IR35 status of each public sector contract moving to the hiring public sector body, and paying the correct tax move from the contractor and their limited company to an intermediary or entity “closest” to the contractor.
With the migration of this responsibility to a third party, the 5% expenses allowance for contracts inside of IR35 has also been removed.
The government estimates that only 10% of Personal Service Companies (PSCs) who should be operating inside of IR35 are actually doing so, and that there are 20,000 non-compliant PSCs in the public sector.
We believe that you have 3 options:
Working with contractors who have a PSC is what Pulse Accounting was created to do and does well. Establishing if you as a contractor, works in a way that is caught within the IR35 rules and wider employment legislation is not new to us and so our services are already firmly positioned to service PSCs to comply with the regulations.
Reasons to choose Amulet:
✔ Operating a PSC within the new rules will be completely different to anything done before
✔ We ensure compliance for every part of the supply chain
✔ Our team of experts will ensure the correct payroll calculations are undertaken and outgoing invoices will reflect the net figure
✔ We understand the differences between government contracts vs private sector contracts
✔ Our seamless service ensures you don’t have to worry about the changes and can get on with your day job
✔ Transparent and simple pricing structure
✔ Cost effective solution to the new off-payroll changes
✔ We are experienced contractor accountants who are there to support you 24/7
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