Some contractors choose to protect themselves against HMRC investigations with insurance packages. Qdos Consulting explains some of the services they offer and what contractors can do to.

Qdos Consulting writes:

If you think that with recent HM Revenue & Customs (HMRC) status initiatives, CIS and MSC, IR35 has taken a back seat then think again. IR35 is still very much alive and HMRC continue in their pursuit of IR35 enquiries. Consequently both insured and non-insured clients are seeking our professional advice and involvement in respect of these enquiries.

Contract reviews
We cannot stress enough to contractors that IR35 has not gone away and still poses a very significant and real threat to businesses. It is important as ever therefore to ensure that your contracts and working arrangements fall outside of the legislation. You can do this by obtaining contract and working arrangement reviews.

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It is incredibly advantageous to ensure that prior to commencement of a new contract your IR35 compliance is strong from the outset. This will provide you with peace of mind that you have done everything you can to obtain a compliant agreement, allowing you to perform your services with a sigh of relief! Also, should you obtain notification from the Revenue of an enquiry you will be confident that you have strong contracts in place and good working arrangements.

Tax investigation insurances
You may even wish to go that step further and, if you haven’t already got tax fee protection insurance then we strongly recommend that you consider this. Qdos is one of the UK's leading authorities on status issues and to date has won over 1000 IR35 disputes against HMRC, resulting in tax savings of over £36m for our clients. If you would like to read some of our client testimonials, please click here.

Freelancers Outside IR35 (FO35)

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Qdos also offer insurances against IR35 enquiries including our revolutionary TLC35 which covers tax liabilities. Having insurance in place really will provide peace of mind and in the event of an enquiry by HMRC, you have the comfort of knowing that IR35 specialists are taking care of it for you, leaving you to do what you do best - run your business!

If, even following efforts to amend it, the opinion of your contract is still that of a ‘fail’, in certain circumstances insurance can still be offered so don’t delay matters waiting for the taxman to knock on your door. You could end up with thousands of pounds worth of professional fees and tax liability to pay if you don’t act now!

For full details of the IR35 related products and services offered by Qdos please visit www.qdosconsulting.com or alternatively, call the Freelancer Team now on 01455 852030.

*Please note that contractual amendments can be made provided that they are reflected within your actual working arrangements.

Qdos Consulting