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Contracting accounting and include - including IR35

Are you a contractor looking for an IR35 accountant? The Kelvin Partnership team have great experience in dealing with the IR35 and all things concerned when it comes to contracting accounting.

After working for several years with those who own limited companies, those who are self employed and those who are in need of personal accounting advice, we understand how to deliver quality and professional support. Our committed accountants are passionate about helping business growth and so, always strive to provide a thorough beginning to end accounting service.

An IR35 Accountant from The Kelvin Partnership

What is IR35?

IR35, which is also known as “intermediate legislation,” is an important aspect to consider when ensuring a contractor is paying their tax correctly. IR35 legislation is in place so that HMRC can seek out those who are avoiding tax.

There are many people who try and avoid income tax and national insurance contributions by disguising themselves and declaring to HMRC that they are supplying a service via an intermediary (a limited company or partnership). This limited company will often only have one employee and a secretary who is more than likely going to be a relative. It is the purpose of IR35 to find these people who are wrongly declaring themselves as contractors in order to better their tax situation.

Why is Important for Contractors to Use an IR35 Accountant?

Many accountants are not specialised in dealing with matters of IR35 legislation. It is therefore vital that contractors find an accountant that can handle their tax situation properly to avoid HMRC penalties and potential investigations.

When you begin to operate as a contractor you have to find out your position in relation to IR35. If you are considered to be an employee in the eyes of HMRC you will be required to make a deemed payment, as well as not being able to claim some expenses. A deemed payment should be paid at the end of the tax year, it will account for any tax and national insurance contributions. To prove yourself as an operating contractor and not a disguised employee, you will need to provide your accountant with sufficient paperwork in order for them to sort out your taxes effectively.

Why Use an Accountant from The Kelvin Partnership?

Your IR35 legislation responsibilities will differ depending on the sector (public/private) you are working in. Because a contractors’ IR35 tax situation is very complicated, it is very important and worthwhile to seek the advice and services of an experienced IR35 accountant from The Kelvin Partnership. We will meet with you to ensure that we understand how you work, if you are inside or outside IR35 legislation and then move forward with helping you.

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Please contact us if you need further advice, have any questions about our services, would like a free consultation or a fixed fee quote.