Join us at our Champions League food and beer event on 26 February to find out more.

IR35 – Are you ready for the new changes?

What is IR35?

IR35 is a piece of legislation that allows HMRC to collect additional payment where a contractor is an employee in all but name. If a contractor is operating through an intermediary, such as a limited company, they would be an employee of their client and IR35 would be initiated. This tax legislation is about to be reformed.

When do the IR35 changes take effect?

6th April 2020.

Who does it affect?

Limited company contractors.

How will it affect me?

This might mean you need to pay extra tax and NICs.

For those limited company contractors that fall under IR35, the company using their services could then switch them to employment contracts to reflect their genuine status, or redraft the service contract in place.

How can Russell Gibson and Lime Blue help?

We can help you understand the implications of this change in legislation as it relates to you and your limited company. We can then assist you in planning your finances accordingly.

Russell Gibson Financial Management and Lime Blue Accountancy are both in the same building, and work closely together, ensuring that the needs of their mutual clients are fully met in a seamless manner. This close relationship means that you can relax knowing that your financial planning affairs are in hand and that you are meeting your obligations in respect of HMRC.

Join us at our Champions League Event

Please join us for an open evening on the 26th February at 6pm at 4 Rubislaw Terrace, where Alan Forbes of Lime Blue, the only IPSE* accredited accountant in Aberdeen will be speaking about the changes to IR35 and the implications.

Afterwards there will be food, beer and the Champions League ‘Real Madrid v Manchester City’ match on our large screen TVs to enjoy.

As numbers are limited, please click on the link to register your attendance. The deadline to register is 14 th February 2020:

*“Contractors’ organisation, The Association of Independent Professionals and Self-Employed (IPSE), runs an ‘Accredited Accountant’ scheme to provide limited company owners with extra reassurance that member firms are fully qualified and trained to deal with the specific needs of contractors and freelancers.”