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IR35: What you need to know

IR35 was due to come into effect back in April 2020, but with the coronavirus pandemic the rollout was delayed until April 2021. But what is IR35, does it affect you, and what changes do you need to make when working?

If you operate via a Limited company, IR35 means you may have to change the way you operate. You can continue to operate under a Limited company if you meet two of the following criteria:

  • Turnover £5.2m or less per annum
  • Profit £10.4m or less per annum
  • Less than 50 direct employees in their organisation

 

If you don’t meet two of the above requirements, you will need to operate via a PAYE system.

The good news is that Drake Recruitment is IR35 ready! We have a fully compliant in-house payroll team able to provide guidance and advice as the new rules kick in. In addition, we provide full transparency on workers tax and PAYE payments providing our clients with full protection – making sure everyone is happy!

Contact us on 0333 344 6845 to find out more!

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