IR35   

 

As you would expect, Independence™ fully caters for IR35. As the full requirements emerge, it will be amended (remember that the first year's support is included in the purchase price).

Liability for IR35 is registered against each contract. It then applies to all payments received against that contract, and through the contract against the person. You can check at any time your liability for the Tax Year to date (see Computation). At the end of the tax year, the 'deemed' salary will be used to calculate any outstanding tax and NIC liability, and these amounts will be added to the last payment to Inland Revenue. They will, therefore, be included in the figures on forms P35, P14/60 etc.

There is a form which can be used to model amounts due under IR35 and compare it with the good old days.

 

 ©2003 Designs on Data Ltd     

 Revised: Oktober 23, 2003 .