On 6th April 2021, IR35 private sector reform resulted in drastic changes to the way contractors are employed. Those who’ve been working via Personal Services Companies (PSCs) feared that the change could spell the end of an era. If you fall into that category, a new solution could provide a legal alternative to the current solutions available.
When the government announced IR35 would be extended to the private sector, many contractors feared the worst: an enforced switch to less favourable working arrangements and even financial penalties. Much of the press surrounding the legislation changes has been highly negative, with business leaders expressing grave concerns. Many contractors are gloomily resigned to making a difficult choice – between an umbrella company or permanent employment.
Caught between a rock and hard place, some contractors may be tempted by a third option: to procrastinate and hope they fall below the radar. However, ignoring the new IR35 legislation changes is the worst thing you could do. Although HMRC promised to be lenient in the first year, both companies and contractors need to look at employment status now. Those that fail to do so could be punished financially if they haven’t addressed the issue in 12 months’ time. The good news is that there IS a way to tackle it – and it’s simpler than you might think.
A new option
Colnort has created a solution that benefits companies and contractors alike – a fully compliant ‘outside IR35-friendly’ service model where contractors can continue operating their businesses and enjoying an independent lifestyle. Colnort takes on the IR35 burden for contractors, becoming the end client.
We will help you create your deliverable and outcome-based service agreements that remove the IR35 uncertainty. We also provide contractors with free IR35 insurance cover and take responsibility for producing the official Status Determination Statement (SDS). As a contractor, you’re outside IR35 – and in control of your career
Why work with Colnort?
In short, Colnort gives you another possibility – and peace of mind. Instead of permanent employment or an umbrella company, you can opt for an innovative and fully-compliant service-based solution, putting you back in the driving seat of your business.
Through Colnort, you’re paid within 48 hours of your work or deliverables being approved. And once you receive your first invoice, we’ll refund your IR35 insurance in full. Best of all, you get a flexible freelance lifestyle that fits around your commitments. What benefits does that bring? Let’s check out the advantages.
Why flexible is the way forward
There’s nothing quite like the feeling of being your own boss – deciding your schedule and maybe even your place of work. Day-time appointments, parental duties, adult learning classes – you’re free to fit work around your lifestyle and commitments. And when you’re working to your own rhythm, you tend to accomplish more. With good and positive work-life balance (and without the stress of the typical 9 to 5) you get a better sense of well-being and the opportunity to thrive.
Get in touch
Is IR35 giving you sleepless nights? Let Colnort take away your anxieties. To re-boot your career post-IR35, call us on 0203 971 5667 or complete a contact form to arrange a discussion.