Tax In The UK
Contracting Through A Company
The rules were first proposed in the 1999 Budget
press release numbered IR35. They have since
become commonly referred to as "IR35".
Detailed information on IR35 is contained at the Inland
Revenue website, under 'IR35'.
These rules affect many contractors who, would
have previously been able to use a company (to contract
through) and thereby potentially reduce exposure to
income tax and National Insurance Contributions (NICs).
Anyone considering contracting through a company (or
other intermediary) in the UK should seriously
consider the potential impact of the new IR35 rules,
and seek appropriate expert tax advice.
Remember - there will be various adverse tax consequences
including penalties and interest if you get this
wrong!
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