Hi,
I've been on a contract with a company for 3 yrs now. They've renewed my contract this week for another 6 months. However, while until now I was classed as outside IR35, I've just had a call from the Agency to notify me that the end client have determined me to be inside IR35 for the renewed contract. I'd always thought I'd have to consider an inside IR35 contract when I completed this contract, but this has caught me off guard. Now I'm going to be continuing to work for the same end client but will be going from an outside IR35 status to an inside IR35 status.
I have a lot of questions that I dont expect anyone to have the answers so looking just for pointers on where I can perhaps start finding answers.
1. What happens to my LTD company if I'm inside IR35.
2. Do I still need all the insurance or can I cancel it given that it was linked to the limited company.
3. What are my options going forward, do I HAVE to accept whatever the agency is offering?
4. Is it as simple as I'm now in a job for the new contract?
5. The agency kept talking about holiday leave etc. but what else should I be looking out for ie pitfalls etc?
6. Can HMRC argue that I've been classed as inside IR35 for the same client for whom I've been working for until now and hence IR35 applies to the past years that I've been working with the client?
Any help will be much appreciated. Thanks in advance.
I've been on a contract with a company for 3 yrs now. They've renewed my contract this week for another 6 months. However, while until now I was classed as outside IR35, I've just had a call from the Agency to notify me that the end client have determined me to be inside IR35 for the renewed contract. I'd always thought I'd have to consider an inside IR35 contract when I completed this contract, but this has caught me off guard. Now I'm going to be continuing to work for the same end client but will be going from an outside IR35 status to an inside IR35 status.
I have a lot of questions that I dont expect anyone to have the answers so looking just for pointers on where I can perhaps start finding answers.
1. What happens to my LTD company if I'm inside IR35.
2. Do I still need all the insurance or can I cancel it given that it was linked to the limited company.
3. What are my options going forward, do I HAVE to accept whatever the agency is offering?
4. Is it as simple as I'm now in a job for the new contract?
5. The agency kept talking about holiday leave etc. but what else should I be looking out for ie pitfalls etc?
6. Can HMRC argue that I've been classed as inside IR35 for the same client for whom I've been working for until now and hence IR35 applies to the past years that I've been working with the client?
Any help will be much appreciated. Thanks in advance.
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