What are the Risks of IR35?
There are three main areas of risk that need to be considered and addressed in preparing for the IR35 changes.
LEGAL AND COMPLIANCETaking the wrong approach to determining a workers status could result in legal challenges from workers and prolonged and expensive litigation. There are also a great number of non-compliant solutions in the market that could take you down the wrong road.
|
|
BUSINESS INTERUPTIONLosing talent in any business could result in missed deadlines and lost contracts so it is imperative to get the correct plan in place from the outset. Communication and compliance will be key to mitigation so as not to interrupt your business. |
|
FINANCIAL IMPACTSFailure to produce the correct determinations will result in the end client paying the price and may face the cost of the lost Tax and NI plus interest and fines. Additionally the risk of doing business with non-compliant supplier is passed on up the chain. |
OVER THE COMING WEEKS, WE ARE HOLDING A SERIES OF IR35 SESSIONS VIA MICROSOFT TEAMS SO PLEASE CONTACT US TO FIND OUT MORE OR IF YOU WOULD LIKE TO ATTEND. |
|