Part of our commitment to providing a value-added service to contractors and other candidates is to keep abreast of all matters relating to the taxation of Limited Company Contractors.

In recent years the most important example of this has been what is known as “IR35”. In essence this is the number of the Inland Revenue press release that introduced proposals to deduct PAYE tax and National Insurance Contributions from income earned by Limited Company Contractors.

By working closely with our Institute we did our utmost to provide guidance to mitigate its effects.

We also liaised closely with various Composite and Umbrella Companies which provide other solutions.

We continue to monitor the situation closely.

For more information on IR35 please visit: http://www.hmrc.gov.uk/ir35/