PracticeConsultingIR35: Deemed payments advice issued

IR35: Deemed payments advice issued

The Inland Revenue has issued guidance on how to calculate deemed payments that may be required under the controversial IR35 rules.

Available on the Revenue’s website, the statement sets out how to decide whether the rules apply to you and what to do if they do.

The Revenue also provides an example and a blank step-by-step guide, which can be printed out to help calculate the payment.

Anti-IR35 body the Professional Contractors Group this week meets representatives of the Inland Revenue at the High Court in London, in a bid to have the controversial legislation overturned. IR35 is intended to hit contractors operating through service companies where they are the sole employee. But the PCG claims the Revenue’s crackdown is unfair because it taxes one-person businesses more harshly than large organisations.

Links

>Leaflet: IR2003 – Supplying Services: How to calculate the deemed payment.

How to calculate the deemed payment

How to account for the deemed payment

Common questions

Calculation of the Deemed Payment Example Using the Step by Step Guide

Calculation Of The Deemed Payment – Step By Step Guide

Leaflet IR175 ‘Supplying services through a limited company or partnership’
This note shows where IR35 rules apply, and what to do if they do apply.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

3m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

9m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

10m Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

11m Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

11m Stephanie Wix, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

10m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

10m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

10m Kevin Reed, Writer