Not sure about IR35 and its implications on IT Contractors in the London UK market? Read our quick guide or contact us for an appointment.
BE AWARE OF THE NEW HMRC BUSINESS ENTITY TESTS AND HOW BITE CAN HELP YOU OBTAIN VALUABLE POINTS.
In July 2000 the Law known as IR35 Directive radically affected the operation of contractors working through their own limited companies. Primarily aimed at IT and Engineering contractors it significantly reduced income by increasing the tax and NI being deducted with only limited opportunities to offset expenses.
What is IR35?
Simply, unless deemed to be outside of this Directive, only 5% of the revenue earned may be retained within the company and the remainder must be paid to the contractor with Tax and NI being deducted.
We offer some exciting opportunities for contractors to improve their position, whatever their choice of contracting, by contracting with BITE.
Post IR35 Contracting
If caught by IR35 your contract will not provide you the traditional benefits of operating through a limited company.
This could mean that your Ltd. Company becomes an unwelcome expense and that new contractors to the UK will not find it cost effective to operate through a personal Ltd. Company. At best you are likely to be worse off unless you take positive steps to improve your personal circumstances.
This means either contracting through a limited company or umbrella company which BITE can provide
Attempting to ensure that your contract, when contracting via a PSC, takes you outside IR35 and using a contract administration service such as BITE’s. Ensure you receive your money via credit control services and bad debt insurance.
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BITE Consulting covers: IT Contracting London UK, IT Consulting London UK, IT Contract work London, IT contract Jobs London, Temporary IT work in London, Temporary IT Jobs in London, working with Freelance Interim Consultants for professional jobs.
BITE also offers: Contractor marketing and advertising services, CV Marketing services, with how to write an IT Contract CV to produce a Killer contract CV with, IT CV templates and IT CV examples. Your Jobsearch in our London office provides access to the hidden contract job market, career coaching for contractors, and contractor career management services .
BITE is not a visa or employment agency.