ACCOUNTING AND TAXATION

Accounting and Taxation

If you are self-employed or a freelancer working through a limited company or partnership, you may face issues under the complex rules of IR35 and s660A by HMRC.

Our aim is to provide support and advice on how to manage your potential risk before it happens to you or to your business and to help you recover from any issues experienced with HMRC.

Our services under IR35 and s660A include;

Introduction to IR35

Guide to IR35 accountancy and taxation

Unfortunately, the IR35 is not at all tax efficient and attracts a lot of tax cost. If IR35 applies to your contract and you operate via a limited company then as the director of your company or member of your partnership, you must:

  • calculate the deemed employment payment and pay any tax and National Insurance contributions due, at the end of the tax year
  • account for those payments correctly
  • reassess the IR35 position if your contracts vary or change
  • take into account the deemed employment payment when paying Corporation Tax, making distributions or operating the CIS

You will also need to report information about IR35 on your Self Assessment tax return.

We can provide you in depth knowledge of IR35 to help you understand the taxes. Please contact us by calling 020 7636 3455 or by e-mailing us at office@accountancymanagers.co.uk.