Disputes with HMRC (aka the taxman) can be protracted, worrying and potentially very expensive. IR35 insurance can save you time, anxiety and money.
Perhaps you think it will never happen to you. After all, you and/or your accountant are scrupulous in keeping the books and filing your returns on time.
Don’t be so sure.
HMRC conduct thousands of enquiries into the tax affairs of freelancers every year. The freelancers concerned are often selected at random and, in the early stages, will be quite unaware that they are being investigated.
So it could happen to you. In fact, it could be happening to you right now.
One of the big issues, since the introduction of the IR35 rules in 2000, is the question of status. As far as you’re concerned, it’s a straightforward fact that you’re self-employed. HMRC may not see it as so straightforward. Indeed, they may not see it as a fact at all.
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