IR35 for hirers and UK businesses
What is IR35 and how does it impact business hiring contractors?
As a result of the off-payroll changes to the private sector in April 2021, every medium and large organisation that engages contractors is potentially affected by IR35.
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IR35 impacts your company if you engage workers through intermediaries such as Personal Service Companies (PSCs). Your company must pay additional taxes if a worker is deemed "employed for tax purposes" under IR35.
Non-compliance with IR35 regulations can result in hefty tax bills if the firm misclassifies its workers. Therefore, it is crucial to carefully assess each worker's circumstances and establish their IR35 status to ensure compliance with IR35 rules.
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