Name: IR35 for Associates: 7 Essential Tips to Manage the Risk of your Self Employment Status
Uploaded: 2020-03-15T04:00:06.000Z
Duration: 56 min 2 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Thank you very much for joining me this evening for the dental focus.

As I am drawing for joining with the money for dentist group s O.

Richard Lishman, who is in the parlor off my dentist on Buliok, who is a opponent or the confident is uncharted tax advisor.

Both are off screen at the moment, but they will be coming in her short.

Today's women are a CZ you would have seen is about I offer if I for associates, we're gonna be discussing quite a few areas.

I've got to race interesting individuals who are specialists in the financial field.

Andre will be talking about seven essential tips to manage the risk off yourself employment status.

So we're going into a little bit of the history of while I thought if I was come about what it means for the associates out there and how well the criteria around it, I committed gated and other other bits of free advice.

We also have a couple of interesting dental focus announcements.

So if you stay tuned, you'll hear a little bit more about a recent march of ours, which is a gentle focus on.

We also have something very exclusive for dental focus clients.

Which again, as I said, I'll be showing at the end of this weapon off.

So introducing a couple of very unique individual Thanks.

I don't know if I can still be that I am still here.

So what I like to do just before we kick off into things I mean, we're gonna be covering a couple of different areas, but, you know, you guys were finding the central vantage device for dental associates Central tax advice on dhe.

I'll be talking about attracted by patients for dental socialism.

I suppose we can all kind of cover that bit, but didn't want to show off for the people out there that don't necessarily know you very well.

Um, just a little bit more about what you guys do in terms of Web site or where they can find you So go the money for dentists website, which is, as it is, money for dentists dot com.

And, yeah, we've been winning over 20 years on one of the founding partners.

Advising dentists exclusively dentist in their families for that time were independent.

It also interesting work from So the tax prom in a swell A CZ investments Pensions N hs analyses consultancy.

So I had the accountants four dentists on that said, out of the group that looks, after all, the tax compliance tax planning for dental associates practice owners on way.

We've been working within the sector while I've been in the sector for the last 20 over 20 years.

1994 qualified a CZ group of us within within the practice that that deal only with dentists suddenly real niche area on some really good expertise way all worked very, very closely together.

You know, Richard and I add up the money for dentists and accountants.

For then, it's his father's business way also worked closely with the lawyers for dentists on practices dentists.

So So it's a really good way of working very closely is a tight knit team living at your complete service told potential clients won't stop short dentist message from the profession says Yeah, well, yeah, Com is really good because yes, because you say you send the other areas to what you just It went really well because time you've both been speaking just pages todo everything that.

Those individuals out there watching at the moment?

Are you Are you employed or are you self employed on?

Actually, more recently, there's another status which which falls in between employees and self employed.

And that's that's, um, that's go back in the last couple of years.

April 1999 was when it was first proposals came out on the problem.

A lot of a lot of from I T consultants were employed by large Corporates one day on there as employees going their tax deducted your national insurance.

And then the next day they were setting up a limited company.

I go back to work for the same employer of There's a limited company on what that will do is it just meant that they rate Thio have lots of all tax savings.

So you know they have family members on the shareholders in the company that paid themselves a low salary.

They're putting their is expenses through the company.

There's no national insurance on dividends, so they were able to to manage and mitigate the tax liabilities a lot more than they rarely t directly employed.

So a long time hater, Marcie, many What's going on here way don't like what you're doing here, because this is This is a massive amount of tax being lost.

They then introduced this concept of I R 35 and on the A moi CE to wet, where contractors were operated through what's called personal service companies limited companies where contractors were operating through personal service companies.

HMRC would take what was supposed to take a close look as to where they really employees rather than self employed right on.

If they were deemed to be employees, then the person service company would need to operate P A y national insurance.

All, uh, that that was doing the real thrust of it on that continues to be distrusted by off five say, And now some of some of the challenges that HMRC have waas resources so watched.

I are 35 was formally introduced in 2000.

Pension Lassie just didn't have enough results to you two to enforce it.

R 35 um, personal service company directors were it was up to them to self report.

And given that opportunity to self police what what do you want?

Your Ugo, you still get the O on dhe around a big industry developed to work around with the I R.

So you know it's been around for 20 years.

The 1st 10 years it's a lot of noise, but not really a great deal of action.

So some of the indicators off that HMRC would be looking at Thio for a person service companies to fall within the regime off things like, you know, you know, as an employee you'd be you'd be supervised directly by the employer and telling you what to do.

So these are these are the areas that would look at it, right?

If you're unemployed, you got control substitution.

You know, if I was an employee, I thio substitute something else turned into something else.

So is, does the person service company have a writer substitution, right?

And do they actually send other people to do the work?

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IR35 for Associates: 7 Essential Tips to Manage the Risk of your Self Employment Status

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