IR35 - "Akin to Employed"                     
What does it mean if I am deemed to be "Akin to Employed"?
 

You can get an accurate picture of your take home income levels by using the
IR35 Calculator.

 The original IR35 proposals would have resulted in wholesale closure of companies where the engagement was deemed to be "akin to employed" - this is no longer the case.

Those who look like they are "akin to employed" will continue to contract via their Limited Company and this allows the Contractor to remain in control of their own destiny with regard to their contract earnings.

Limited Company status offers you the protection of limited liability, a corporate presence and eventually the vehicle to qualify part/all of your engagements as "genuine" contracts.

Allowable expenses will still represent a significant part of the expenditure of the company and are paid in addition to the 5% tax free bonus:

These include:
 
Traveling expenses
Meals and accommodation
Car, Van or Motorcycle
Postage and Stationary
Mobile Phones
Internet
Special Clothing
Working at home
Contribution to an approved pension scheme
Charitable donation
Professional subscriptions
Directors’ liability insurance, professional indemnity insurance and work-related uninsured liabilities.
Personal Incidental Expenses (PIE)
Removal and Relocation Expenses

 
What can be taken out of the company?

Full details of the allowable expenses are contained in our Frequently Asked Questions section.

You can get an accurate picture of your take home income levels by using the IR35 Calculator.
What is the best advice for Contractors right now?
Keep Contracting  - Recent comparisons show that the majority of IT Contractors take home almost twice as much money as their PAYE equivalents!