There is a real need for Contractors and Freelancers in the Oil and Gas sector and the support, especially in areas such as IT and Engineering.
Whether you are a new contractor or an existing contractor, IR35 is a big issue for you, there is lots of tax and penalties at stake. You need to ensure that you are compliant with IR35. Contracts within this sector can last for significantly longer that other sectors often for many years, and over the years your employment status may become blurred. It is also a sector that HMRC have been known to take an interest in.
The risk of penalties and interest as well as back taxes is significant, add to that the stress of an IR35 investigation and you can see the need for a specialist contractor accountant to guide you.
You need to take professional advice and get your contract and working practices reviewed by a specialist contractor accountant. In addition you may consider getting specialist insurance against the risk of an investigation and/or the tax and penalties at stake.
We can offer you practical advice around IR35 and review your contracts for IR35 compliance.
Freelancer Accounting will assist you in your contracting by providing fixed fee accountancy services to Freelancers and Contractors in London and the South East England.