Have you been a contractor in the past and are now affected by IR35?
IR35 or “off payroll working” has become a real issue for a lot of people recently.
The off payroll working rules can apply if a worker (sometimes known as a contractor) provides their services through their own limited company to the client.
Many tens of thousands of individuals have provided their services to many companies in the past by way of being a contractor, rather than being employed by that company. This has been very common in the banking and I.T industry and the Construction industry. (Even HMRC have employed the services of many individuals as contractors rather than employing them).
However, from 6th April 2021 HMRC have introduced new rules (which are a bit confusing) that means many companies have stopped using individuals that work for them as a contractor via their own Limited Company and have now said they have to be fully employed and paid through the PAYE system of that company.
This means a lot of individuals have Limited Companies which are no longer trading and have no income but have large VAT, CORPORATION TAX or PAYE bills and the company has no way of paying these.
One option is to liquidate the company. By doing this the company will be officially closed down and all the debts of the Limited Company will be written off and disappear (unless you have given any personal guarantees on bank loans etc – HMRC don’t take personal guarantees so any HMRC debt will be written off). You can then get on with your life without the worry of having to pay HMRC back.
If this is you please contact us. We are experts at dealing with HMRC and helping Directors of companies that have been affected by IR35.
Do not suffer any longer having sleepless nights, dread opening the post or answering the phone or the door. Give us a call now and we will see if we can assist you in any way. Our initial discussion and first meeting are totally free of charge, without obligation and totally confidential.
Please telephone us anytime on 0800 980 2662 or 0161 825 8094. Our lines are open 24/7, 365 days a year and will be answered by a human being. No queues or voicemail.
At no time will Business Advice Services, it’s partners, agents or employees be involved in the management of a Limited company or act as a Director of a Limited Company. At all times we act only on the instructions of the Directors of the company we are assisting for that specific task.