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Don’t let Coronavirus distract you – contractors still need to be IR35 compliant

Just over a month ago, contractors were worried about what the impact of IR35 would have on their lives and careers.

How times change – since the coronavirus lockdown, IR35 has (understandably) barely been mentioned in the news.

IR35 was a tightening of government legislation aimed toward ‘off-payroll working’. First introduced in 1999, the latest amendments would focus on contractors HMRC deemed as ‘earning employment income’.

Put simply, those contractors with just one client could suddenly fall under new IR35 guidelines, and potentially owe a lot in back tax payments as they could be classed as an employee with all the benefits – and tax obligations – that would bring.

There was confusion amongst contractors about who fell under the legislation – and then a global pandemic arrived.

IR35 has since taken a back seat as the UK deals with Covid-19, but with the lockdown set to ease in the coming weeks, it’s essential that contractors understand that updated IR35 legislation has only been delayed, not cancelled.

Updates to IR35 legislation are still going ahead, and are scheduled to be introduced in April 2021 instead of this year.

The Greatpay team is always available to help you become IR35 compliant. Find out what IR35 means for you by speaking to our team today.

Helping contractors be IR35 compliant by 2021

That delay could be helpful to contractors (despite the circumstances).

Many felt IR35 changes had crept up on them initially, and said they struggled to be HMRC compliant by the original deadline. Many also weren’t sure if they would be affected by IR35 or not.

There is now an extended period of time for them to become IR35 compliant before the new April 2021 deadline.

At Greatpay, we’ve worked with contractors across a wide variety of sectors for years to not only help them meet ever-evolving HMRC legislation, but retain more of their take-home pay, too.

Our team believes that the best way to meet challenges such as IR35 is with a bespoke payroll solution that’s agile and flexible to your professional needs as a contractor.

Most importantly, though, we believe that contractors should focus on building relationships with new clients and maintaining existing ones to build strong foundations for themselves.

IR35 legislation and other financial paperwork can be extremely time-consuming and difficult for contractors to work through, especially in difficult times.

Greatpay’s bespoke payroll solutions will take all that admin from your shoulders, leaving you to concentrate on delivering your services and building stronger relationships with clients.

Our bespoke payroll services are HMRC compliant and built around you. Greatpay’s payroll solutions will also leave you with more money in your pocket and provide faster payments.

With fully-compliant structuring, contractors using Greatpay’s services can take home more than what they could through a standard umbrella company, employee PAYE service or limited company.

Free to join, our payments team is available beyond standard business hours to help you get paid on the same day, too. We’re open until 7 PM, five days a week, too, to help our contractors with any financial help they may need.

IR35 assistance, faster payments, less admin and more money in your pocket. It’s the Greatpay way.

Find out more about our bespoke payroll solutions and how we can help you grow by speaking to a member of the Greatpay team today!

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