IR35 Calculator Blog is pleased to announce that the comprehensive website helps contractors in the United Kingdom to better understand and follow the IR35 legislation currently in place. Efforts to stay within the boundaries of today’s legislation are easier when contractors can look to the http://ir35-calculator.org.uk/ website and blog to determine whether their practices meet the restrictions of the laws.
IR35 was implemented in 1999 in an efforts to address the problem of disguised employees. It is tax legislation to prevent tax avoidance by those workers who have a relationship with customers through a company with limited liability. Under Her Majesty’s Revenue and Customs regulations, these workers are actually a type of employees and should pay income tax and National Insurance Contributions. The impact of the cost of IR35 can be as much as 25 per cent. The cost to a typical limited company-contractor is similarly affected.
IR35 has faced considerable criticism, since the time of its inception. The legislation had a main aim of defending workers’ rights from unscrupulous employees. The Exchequer wants the appropriate tax gains to be assured. IR35 seeks to transform a legitimate small business with one person into an employer/employee relationship.
– See more at: http://www.datsyn.com/press-release/3376/2015/07/08/Intermediaries-Legislation-Information-Identified-On-New-Website#sthash.GkO1JgbV.dpuf