John Ansell has already clearly stated that opting in or out or shake it all about does not make more open to or protect you from IR35.
Opt out of you are a moron...opt in if you want to protect your business from dodgy agents. Its as simple as the way you spin it
Mailman
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Reply to: Opt in / Opt out which is it?
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Previously on "Opt in / Opt out which is it?"
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It's a bit marginal, TBH, but opting in removes financial risk (you have to be paid by the agent even if they aren't paid themselves). Given the late payment legislation it's a bit marginal either way, but you can kind of demonstrate financial risk in an opted-out contract.
Agents want you out partly becuase it saves them work but more importantly it offlaods their financial risk since they don't have to pay you if they haven't been.
However, it remains to be seen what sort of a pudding the legislators will make of it all once they try and combine the Agency Regs, the next version of IR35 (it will happen...) and the Muscat decision into something workable. Opting out and running your own business looks to be the safer bet, long term.
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I'm sure i went through this with my accountant and she seemed to be of the opinion that opting in would have no effect on IR35 status, and that was just something the agents say to try and get you to opt out so they don't have to do as much work.
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Thank you for a clear and succinct answer.
It is much appreciated.
(Opt out is my guess )
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Opt in if you want protection against poor payment, minimal handcuff periods and the chance to lose one of the better anti-IR35 pointers.
Opt out if you want protection against poor payment, minimal handcuff periods, the chance for an anti-IR35 pointer and are confident enough to negotiate a better deal since the agency has to do much less work on your behalf.
Also note - opt out anyway, before you go to the client. If you're opted in or have been introduced to the client you can't opt out
Also note - you can opt back in again at any point up to when you start work.
So who can spot the best course of action for most contractors then...?
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Opt in / Opt out which is it?
A UK based contractor has asked me, being as I've been around for ages, which they should do: opt in or opt out?
I ask the gathered congregation, 'cause I haven't a clue what this latest thingy is.Tags: None
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