Categorized | ir35 rules, news

IR35Buddy service launched to end controversy around self-employed status

A new service has launched this week to help contractors protect themselves from the risk of being caught out by HMRC’s IR35 regulations.

Designed to help freelancers make sure that they stay on the right side of the tax man’s strict self-employment ruIes, claims to guide you swiftly through the whole compliance process. According to the site, it will make sure that you follow the regs to the letter, and offers quick, practical solutions for anyone failing to make the cut.

Genuinely self-employed contractors who don’t quite reach the legendary 20 point mark required to pass the revenue’s Business Entity Test (BET) can use the service’s free tools to find out how they can qualify. There’s a Contracts Buddy to check that your contract is compliant, a Substitution Buddy built to satisfy the rules around subcontracting and even a Premises Buddy providing ultra low cost workspace leases – all available via the online hub.

Contractors and Freelancers found to fully comply with HMRC’s guidelines can then be issued with an “IR35 Compliance Passport” confirming that their contract and working practices have been independently assessed. There is a nominal charge for this part of the service, but the deal comes complete with insurance, providing them with an expert responsible for dealing with all subsequent tax enquiries on their behalf.

As yet there’s been no reaction to IR35 buddy from HMRC HQ. However, its founders designed the service in collaboration with one of the big four accountancy firms and have kept Her Majesty’s bean counters fully informed throughout, so are confident that the new tax passport scheme will withstand up to any scrutiny the authorities care to give it

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