Glossary

IR35

IR35 also known as the “intermediaries legislation”. This piece of legislation to is designed to prevent tax avoidance for any contractor working for an end-hirer via an intermediary (i.e. a Limited Company or Personal Service Company). In a nutshell, it is aimed to stop contractors working as disguised employees and any assignments “inside IR35” or “caught by IR35” must make a deemed payment to HMRC roughly equivalent to the taxes that would have been paid had they been employed by the hiring company.

Other common terms

FCSA Codes of Compliance

The Freelancer & Contractor Services Association (FCSA) operates best practice codes of compliance designed to ensure that its Accredited Members are providing compliant advice and/or

HMRC

Her Majesty’s Revenue and Customs (HM Revenue & Customs or HMRC) is a government department responsible for the collection of taxes and National Insurance contributions,

IR35

IR35 also known as the “intermediaries legislation”. This piece of legislation to is designed to prevent tax avoidance for any contractor working for an end-hirer