My contract is due to come to an end midway through March. My client has just announced they will be making IR35 assessments on all contractors and releasing it at the end of February.
I am concerned a blanket decision will be made and this exposes me to 1.5 years of backtax if HMRC decide to go down that route.
Is anyone else in this situation? Is it even worthwhile leaving before my contract ends - an assessment may still go on record even if I left? Also I am on a 4 week notice period, so would be in breach if I tried to leave earlier.
I have used the deemed payment calculator on this website, which gives a breakdown of the taxes owed. Would my Ltd company also be liable for the employers NI portion (I am thinking yes?). What if my company is closed straight away?
Thanks
I am concerned a blanket decision will be made and this exposes me to 1.5 years of backtax if HMRC decide to go down that route.
Is anyone else in this situation? Is it even worthwhile leaving before my contract ends - an assessment may still go on record even if I left? Also I am on a 4 week notice period, so would be in breach if I tried to leave earlier.
I have used the deemed payment calculator on this website, which gives a breakdown of the taxes owed. Would my Ltd company also be liable for the employers NI portion (I am thinking yes?). What if my company is closed straight away?
Thanks
