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Contractor Among Contractors
Don't think a new contract is necessary. I'd just make sure you have a notice period that allows you to terminate prior to April. You should do all of the due diligence bits others have said to make sure the contract and working practices are outside IR35.
Then just carry on and wait for the discussions about SDS (status determination statement) and then pay very close attention to decide your next move.
But remember, as soon as the client has made a determination you are toast. You can get out before it hits in April but your IR35 status is in tatters. All you are doing by leaving before April is attempting to avoid being caught. Only takes HMRC to ask for all contractors that had a determination, regardless if they are still there or not and your done.
Waiting until you get determined inside and then attempt to run isn't a very good option at all.
'CUK forum personality of 2011 - Winner - Yes really!!!!
My logic for the notice period:
- Give yourself a way out, cutting your losses to the minimum if found inside. Though its unlikely you'd be working Inside via your LTD (more like contract ends, replaced with Brolly or PAYE arrangement), you may not want to be commited to completing the existing contract, working inside on an outside day rate.
- You also have the opportunity to get out before the SDS is even done, halting it in its tracks. So if you feel the client is going to wrongly determine status, and you're fortunate to have other options, get out as cleanly as you can and move on.