Hey look, yet another IR35 post - but just one point of clarity that my google searches can't quite give me the answer to due to all the result noise.
Scenario: New contract, client uses CEST (groan) to make their status determination in good faith as Outside. You the contractor receive your standard day rate and administer your company as usual.
Then disaster strikes and HMRC decide you're actually in. Who then pays? The 'employer', of course, has to then backpay Tax and NI, but I'm trying to work out if there's any potential blowback on the contractor in this event. Do they claw money back to you by some means? Does it change how I've administered my accounts?
Let me know if I'm being blind but I can't find an article that nails it on this point in terms of risk/mitigation strategy. Or in other words, I'm trying to work out if there's an appropriate insurance I should be taking out on my own behalf.
Scenario: New contract, client uses CEST (groan) to make their status determination in good faith as Outside. You the contractor receive your standard day rate and administer your company as usual.
Then disaster strikes and HMRC decide you're actually in. Who then pays? The 'employer', of course, has to then backpay Tax and NI, but I'm trying to work out if there's any potential blowback on the contractor in this event. Do they claw money back to you by some means? Does it change how I've administered my accounts?
Let me know if I'm being blind but I can't find an article that nails it on this point in terms of risk/mitigation strategy. Or in other words, I'm trying to work out if there's an appropriate insurance I should be taking out on my own behalf.
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