I have been contracting for 12 years and am going through an amicable divorce (her choice). Brexit and Off-payroll rules will possibly mean the end to contracting for me and as we were also married for exactly the same time period and my ex was a shareholder, she couldn't have timed it better in financial terms - such is life. We have agreed to split what is left in the company 50:50.
However, I'm quite apprehensive that after the divorce and asset split has gone through, hmrc will come knocking and find any one of my contracts inside ir35. Over the last 6 years I have had 2 gigs of 2-year lengths and if it came down to an investigation my fear is that I would be stung for all the back tax, interest etc. In the meantime, my ex, who was not a director only shareholder, will presumably will not share any of the risk and will be able to walk away and sleep easy.
So my question is can I voluntarily declare to hmrc now that either 1 or both contracts were inside ir35 and pay the respective taxes? Obviously it will leave a much smaller pool of money to divide between us but at least the burden will be shared between us rather than me potentially taking it all on.
However, I'm quite apprehensive that after the divorce and asset split has gone through, hmrc will come knocking and find any one of my contracts inside ir35. Over the last 6 years I have had 2 gigs of 2-year lengths and if it came down to an investigation my fear is that I would be stung for all the back tax, interest etc. In the meantime, my ex, who was not a director only shareholder, will presumably will not share any of the risk and will be able to walk away and sleep easy.
So my question is can I voluntarily declare to hmrc now that either 1 or both contracts were inside ir35 and pay the respective taxes? Obviously it will leave a much smaller pool of money to divide between us but at least the burden will be shared between us rather than me potentially taking it all on.
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