Some contractors panic with regard to IR35, take bad advice and assume they are going to get caught.
It isn't all that bad, and by taking the appropriate steps it is possible to pass IR35.
Here's some quick advice:
- Despite what the Inland Revenue advice states on their website, contactors in long contracts who work on an hourly rate can pass IR35.
- Take professional advice from an IR35 expert before signing a contract. That decision alone could save you thousands of pounds.
- Don't ask the Revenue for an opinion. They are fighting the corner which wants to prove you are inside IR35.
- If you keep your accounts in order and file your forms correctly and on time you will reduce the chances of investigation.