With less than six months until IR35 reform is enforced in the private sector, the two renowned sector specialists have partnered, which will see the firms working with agencies and engagers to conduct expert IR35 status reviews. For contracts deemed inside IR35, Parasol will offer trusted umbrella solutions to fee-payers.
IR35 reform will be introduced in the private sector on 6th April 2020, resulting in medium and large companies becoming responsible for determining the tax status of the contractors they engage. As part of these changes, the fee-paying party, which is often the recruitment agency, will carry the IR35 liability.
Parasol Group, that works with over 3,000 recruitment agencies in the UK, undertook a thorough review of options for status specialists and determined that Qdos offered the most secure and comprehensive service. Qdos were prominent advisers in the reform to the legislation in the public sector in 2017, working with numerous public sector bodies and recruitment agencies.
Qdos CEO, Seb Maley, commented:
“We’re delighted to be helping more than 3,000 agencies minimise their IR35 risk by accurately determining the tax status of the tens of thousands of contractors they place in businesses. Our partnership with Parasol Group is an important step towards helping the recruitment industry successfully manage next April’s changes while also ensuring contractors have their tax status assessed correctly.
“Given Qdos conducts on average 2,000 IR35 status reviews every month and has handled more than 1,600 IR35 investigations, we have vast experience and a proven track record when it comes to IR35 compliance. Our knowledge and this partnership will be vital in protecting agencies and contractors and allowing end-clients to continue engaging these workers compliantly - whether outside or inside IR35 through an umbrella company.”
Mark Beal-Preston, CCO for Parasol Group, commented:
“As IR35 reform approaches, it’s vital that contractors have their tax status determined correctly - not just to protect the fee-paying party but to ensure independent workers themselves are taxed fairly. Working alongside Qdos Contractor, we are well-positioned to help thousands of agencies and in-turn, vast numbers of contractors and end-clients navigate reform."
With over 25 years’ experience, Qdos Contractor is a specialist contractor tax, IR35 and insurance adviser, handling over 1,600 IR35 enquiries, saving UK contractors over £35million in tax.
Founded by a contractor, Parasol Group now manage payments and accounts for over 100,000 contractors who opt to work via an umbrella company structure, and are a founding member of the FCSA.
Qdos provide independent IR35 status assessments for engagers, with outside IR35 determinations backed by insurance. For any contracts deemed inside IR35, fee-payers can choose to engage contractors through an umbrella company - this is optional and not a referral service. Qdos Contractor does not benefit from this in any way.
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