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 a business misclassifies its workers. Therefore, it is crucial to carefully understand each worker's circumstances and assess their IR35 status to ensure compliance with IR35 rules.
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