Even if you are a freelancer, that does not save you from the “IR35 threat” entirely. The fact is that HM Revenue & Customs now have set targets to recover unpaid tax from freelancers. It is worthwhile to get IR35 insurance also called contractors tax investigation insurance for those professionals who are worried about their contracts being deemed to be within IR35 by HRMC. An estimated 1.4 million contractors and freelancers are present in the UK alone. Out of these only a 1000 of them have to face IR35 investigations. But even in this slim chance, it is better to be insured well as, under the UK tax laws, you are guilty unless proven otherwise! Under such pressurizing circumstances, IR35 insurance provides financial assistance paying for your professional defense and also the tax, in case you are proved to be guilty.
So if IR35 is really bothering you and you need to know more, click on Professional Indemnity Insurance
