Insurance-backed solution to IR35
The shift in responsibility for IR35 status determination and liability for unpaid tax, means you will need to balance financial risks with the importance of retaining your contractor talent pool. One option is to utilise a reliable insurance-backed solution with tax liability cover. Your role would be assessed at the outset, then re-assessed at regular intervals to ensure compliance.
When would this be the best option?
You need resource flexibility
You want to protect yourself against IR35 risks
When cost is a consideration but you want to maintain control
Benefits
Insurance-backed mitigates the IR35 risks
Maximises the skills pool available to you and enables you to maintain flexibility
Significantly more cost effective than most consultancies (circa 20%)
Considerations
Relies on all parties being accountability for their own actions
Has the IR35 status of the role been determined already?
Contact us to discuss how this could work for you. Scroll down to see what an insurance-backed model through Cognitive might look like.
