IR35 Guide

Contract reviews and tax losses insurance

HMRC has spent millions targeting freelancers under IR35, but a growing number of contractors have complete peace of mind about their IR35 status thanks to Abbey Tax’s freelancer services, who we have partnered with.

Their expert solutions independently determine your tax status and protect your tax position. Abbey Tax has worked with the freelancer market since IR35 was introduced, so your business will be in safe hands.

IR35 contract reviews

Their comprehensive review package fully analyses both the contractual terms and working practices of the engagement(s) using our ‘tried and tested’ IR35 status questionnaire. You receive a full report which includes any recommendations to improve the contractual terms and concludes with a “pass” or “fail”.

The review provides you with a specialist opinion as to the IR35 status of your engagement – so you can decide how you will be remunerated. It is also evidence of undertaking due diligence to help you avoid any penalty (of up to 30% of the tax due) if you are subsequently investigated. Finally, you can insure against any potential tax loss to give you complete peace of mind.

Once we are in receipt of your contract, a completed copy of our questionnaire and payment of the review fee, our full written report will be with you in five working days. Please contact us for our pricing structure. Where you have multiple contracts for review we can provide a bespoke quotation. In addition, for those with urgent cases, we can provide a quotation to complete the report to your required timescale.

Survive35 TaxSafe: IR35 tax losses insurance

What cannot be guaranteed is that HMRC will reach the same conclusion on your IR35 status! They may seek to challenge the employment status of your contracts and if they are successful, you will be left with an unwanted tax bill! This is why we developed our market-leading Survive35 TaxSafe tax losses insurance which allows you to cover your ‘passed’ contracts and extensions and, if HMRC subsequently reclassified your engagement as ‘caught by IR35’, Abbey Tax will reimburse:

– Unpaid tax and NIC
– Interest
– Penalties

Survive35 TaxSafe insurance will provide you with complete peace of mind that your business and finances are protected.

IR35 review is included in our Prime and Prestige packages.

For more information, please contact us.

Our Packages

Bespoke Packages start from £95 per month plus VAT.

Tax Investigation Protection is included in our Prime and Prestige packages.
Please click here for more information on our Tax Investigation Protection service.

Click here to view all our packages.

FreeAgent, cloud accounting software for small businesses and freelancers

At Global Accountancy and Taxation, we’ve chosen FreeAgent as our preferred accounting software for our small business, freelance and contractor clients.

Easy-to-use accounting software

Designed specifically for small businesses and freelancers FreeAgent makes it simple to stay on top of your day-to-day bookkeeping. At the same time working alongside our team of qualified accountants at Global Accountancy and Taxation ensures you receive the best tax planning and business advice.

Click here for more information.

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