Contractors should make sure that they are not caught in the IR35 net.
They should change their contracts and working practices to make themselves IR35 tax compliant.
The main IR35 factors are as follows:-
The right of substiuttion
Control, Direction and Supervision
Mutuality of Obligation
The main criteria are to differentiate yourself from an employee of the company so that you are not mistaken for one for tax purposes.
IR35 investigations can take years and end up costing contractors tens of thousands of pounds. Therefore IR35 insurance is a great idea.[caption id="attachment_836" align="alignnone" width="259"] IR35 Net can catch contractors[/caption]