IR35 legislation continues to be one of the most significant challenges facing contractors in the UK. With HMRC’s increased focus on compliance and the extension of off-payroll working rules to the private sector, understanding IR35 has never been more crucial.
The 2024 tax year has brought several important updates to IR35 compliance including increased HMRC scrutiny, updated guidance on status determination statements, and enhanced penalties for non-compliance. Maintaining detailed contracts, documenting working practices, and seeking professional reviews are now essential steps for contractors who want to remain outside IR35.