A
separate organisation, Abbey Tax Protection, is
able to offer IR35 Tax-Safe, an innovative insurance policy
designed to give contractors comprehensive protection against future
IR35 tax demands.
The
IR35 legislation places responsibility on you for deciding how to
treat your contract income for tax purposes. Getting that decision
wrong can prove to be a costly mistake. Whilst an IR35 Status Review
is a valuable tool in helping to make that critical decision, unfortunately
no one can be certain that the Inland Revenue will share that view.
Furthermore, no one yet knows how the Revenue will “enforce”
the IR35 regime, although some contractors will be selected purely
on a random basis and most contractors are a prime target.
Peace
of mind is now available with IR35 Tax-Safe. This new insurance
product will reimburse the tax, penalty and interest losses that
may arise if IR35 is subsequently imposed on a Contract that has
been previously reviewed and “passed” by Lawspeed as
being outside the scope of the IR35 legislation.
IR35
Tax-Safe Cover
ALL
ADDITIONAL IR35 TAX including
-
Income
Tax (inlcuding PAYE and Higher Rate Tax)
-
Corporation
Tax due from the Company
-
Employers
NIC & Employees NIC
-
Tax
on Dividends (whether notional or not)
INTEREST
due on the taxes included above
PENALTIES
due on the taxes included above
Procedure
The
service involves a two-step process.
1
We conduct
a comprehensive Status Review
2
If the arrangements
'pass' Abbey Tax Protection can offer the opportunity to apply
to them for Tax-Safe Insurance
Key
Features
There
is
no
excess
in the event of a claim
The
simple application process is and quick
and easy
Premiums
are calculated monthly
(after initial 12 months)
Also
covers named executive directors
of the Company
There
is no
requirement to buy ‘continuation premiums’ –
merely that the you have in place valid
PEI
For
further details and to order please contact Abbey Tax Protection
directly.
