Contractors scares of being caught by HM Revenue & Customs

October 16th, 2008

It has noticed that roulette contractors and freelance experts are ignoring their basic best practice in making sure their contracts are outside IR35, the provision of such a rule putting them at a risk of being caught by HM Revenue & Customs.

Chief executive of ContractorCalculator.co.uk Dave Chaplin said, “It looks like a significant number of contractors are playing Russian roulette with their tax affairs, the gun is HM Revenue & Customs, the bullet is the IR35 tax legislation. And with HMRC needing to collect as much revenue as possible to fill the Treasury’s empty coffers, it looks like it’s only a matter of time before the trigger is pulled.”

According to the most recent survey on release of Contractor Calculator’s Chaplin was speaking that most of the contractors occasionally look for self-governing expert opinion on their IR35 status, however most it has firmly consider that they would not be caught by the IR35 legislation.

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