Two of the most prominent contractor and IR35 experts, Qdos Contractor and Parasol Group, have announced a significant partnership aimed at assisting companies through the off-payroll reform.
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, COO 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. With Qdos Contractor’s expertise, we are well-positioned to help thousands of agencies and in-turn, vast numbers of contractors and end-clients navigate reform.”