ARAG White paper: IR35 – Will the rule changes affect your business?
Authored by ARAG
This is the opening section of our latest white paper. The whole white paper is available as a free download (click the link provided by youTalk-insurance below)
The implications of HMRC’s rules known as ‘IR35’ have been around for a number of years.
Prior to the introduction of the IR35 rules in 2000, there had been a growing practice of workers leaving their jobs as an employee, setting up their own limited company (generally with the worker being the sole director) and immediately returning to their former employer as a contractor, working on behalf of their newly formed limited company - known as a Personal Service Company (PSC) - to carry out the same work that had previously been performed as an employee.
Under these arrangements both the worker and their former employer were happy as this arrangement enabled the worker to retain more of the income that would have previously been taxed as an employee and the former employer did not have to pay employers National Insurance Contributions (NIC) or worry about any of the other obligations associated with being an employer (sick pay, holiday pay etc).
CLICK HERE to be taken to the original ARAG article where you will be able to download the whitepaper
ARAG UK is a specialist legal insurance provider and is part of the internationally recognised ARAG Group which serves 14 countries worldwide.
Providing several emergency assistance insurance products and an innovative range of Before-the-Event and After-the-Event legal insurance products and services, ARAG UK prides itself on its client-focused approach. This has been recognised by the industry following the results of the Insurance 360 Legal Expenses Insurers Study in which ARAG UK was voted 'best legal insurance provider'. youTalk-insurance sharing ARAG UK insurance news.
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