IR35
The issue of IR35 is something that needs to be considered by all UK based freelance professional working overseas.
The IR35 tax legislation was first announced in April 1999 and the intent of the UK Inland Revenue was to cut down on tax and NI avoidance by contractors. It is directed at individuals who are deemed to be in employment but who are claiming to be independent, or self employed.
The Revenue's objective is to ensure that full UK tax and national insurance are applied to the remuneration of UK freelancers.
Who is affected by IR35?
All UK tax resident freelance professionals are theoretically liable to be caught by the provisions of IR35, whether they are working in the UK or overseas.
However there are ways in which the contract can be structured to avoid completely any of the implications of IR35.
So, the simple answer is to seek expert IR35 advice. Contact Global K today to have your terms and conditions, contract and working arrangement reviewed by one of our IR35 experts.
If you are a contractor and you are contracting overseas, find out how Global K can help ensure that you are not caught by IR35. Contact an IR35 expert now.