For Halloween we thought we would talk to you about the thing most people are scared of – the dreaded IR35!
IR35 is the term used for HMRC rules around ‘disguised employment’ and what determines how you pay yourself through a limited company.
HMRC have recently released their factsheet on the IR35 in the transport industry. The key point that they make in this is that ‘if you are financially responsible (you hire/own or lease your van) then you are not classed as an employee and you don’t pay tax at 20%
NIC @ 12.8% on your salary.
All this means – you can continue to work tax efficiently through your company, and sleep at night!
If you want to discuss anything further – message the office.