Innovate UK was found to have engaged some contractors who should have been considered inside IR35 and subject to Income Tax and National Insurance Contributions, which has given rise to a £36 million tax bill.
This year’s annual whitepaper from Kingsbridge Contractor Insurance has taken a closer look at what has changed over the last 12-months and with almost 2,000 businesses including contractors, recruiters and end clients responding to the whitepaper survey, some interesting data has emerged.
In a recent survey by Kingsbridge Contractor Insurance, 87% of recruiters reported that they had taken steps to insure their tax, interest, and penalties risk should HMRC investigate their business under the Off-Payroll (IR35) Rules.
With IR35 (off-payroll) reforms in the private sector approaching next April, many previously ‘outside’ contractors will now find themselves ‘inside’ IR35. This means they...
