IR 35 – be careful. HMRC are again checking if you should be employed by your contractor or not. It is obviously better tax wise for both you and your contractor to be self employed, but is it correct? You should be asking yourself some questions, do I do all my work for one person? If no then you should be fine. Is my work guaranteed ? Again if no then you should be fine. Do I take a risk ? – do I quote for the work, do I have sub contractors? Can I make a loss on this work? Again if yes then you should be fine. But if you are still unsure after asking these questions speak with your contractor regarding your concerns and if still uncertain speak to PMC then HMRC directly to check, as if they find you should be employed you can be hit with a large backdated PAYE bill.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 25th March 2024
From 6th April 2024 the National Minimum Wage for Employees 23 years and over will rise from £10.42 to £11.44. Please note this is the Employers legal responsibility to check their employees are earning at least this amount and inform the office to amend the payroll if required.