IR35 contract review/ insurance

(10 Posts)
thegraduand Fri 15-Feb-13 21:19:14

I'm about to start my first contract since I set up my consultancy business. I've had a contract through from the client, but from what I've read I really need to get it checked for IR 35 compliance, and it would be a good idea to get IR35 insurance as well. I will also need to get liability and professional indemnity insurance as well in the next couple of weeks (contract doesn't start for a month or so).

There seem to be so many companies offering support, can anyone recommend someone good. I've been looking at QDOS, SJD Accounting and ClearSky Accounting a bit.

Thanks
(PS have name changed am MN regular)

thegraduand Fri 15-Feb-13 21:37:07

Also now looking at Bauer & Couttrel and Accountax, this is getting confusing

MrAnchovy Sun 17-Feb-13 23:00:44

You need an accountant who will prepare the company accounts and tax return, ensure dividends are dealt with correctly etc. - and will deal with the IR35 review too. There are a number of firms that specialise in this - your first post identified a couple. Many accountants who don't specialise in contractors will do all the rest and subcontract the IR35 review to a specialist like the two firms you mentioned your second post.

If you want to go your own way, I'd strongly recommend joining the Professional Contractors Group - they have a discount arrangement for IR35 services with Accountax (or did last time I checked).

BadRoly Sun 17-Feb-13 23:12:30

Dh uses PCG and we have an accountant who is knowledgeable about IR35.

thegraduand Mon 18-Feb-13 09:55:44

Thanks, I have an accountant, but she's not a specialist in IR35. She normally deals with slightly larger SMEs and people who are significantly richer than me. I'll have a look at PCG, do they cover people who aren't IT contractors? Lots of the sites I look at just seem to specialise in IT. My accountant has already recommended I set up an e-mail with my company name, so I'm looking at that at the moment

MrAnchovy Mon 18-Feb-13 10:39:35

She sounds similar to me; I subcontract IR35 reviews to accountax.

There are more contractors in IT than any other profession, and because they generally work in teams supervised by/supervising/alongside client's staff and other contractors they are particularly vulnerable to HMRC threatening IR35. If you have a professional body they may have standard contracts that deal with matters specific to the work you do: that would be a good place to start.

BadRoly Mon 18-Feb-13 12:15:59

Dh isn't an IT contractor so yes they do!

TreadOnTheCracks Mon 18-Feb-13 12:34:36

Yes ask your accountant. If you are a member of a professional body they may also advise. It's the wording of the contract that matters.

When IR35 started we put the money by in case we got clobbered for it, it's sat in an isa, so if you can afford it that is one way not to worry about it.

MrAnchovy Mon 18-Feb-13 17:12:04

Actually what happens in practice is also relevant, not just the contract wording, as demonstrated by the Autoclenz case.

ValentineWiggins Mon 18-Feb-13 17:18:45

Recommend pcg too...lots of really useful advice!

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