There are many different ways of working in the UK, including as an employee, sole trader, and for the entrepreneurs, a business owner. Contractors are commonly paid through an Umbrella company, agency PAYE or through their own companies. This article specifically focuses on the scenario where IR35 is a consideration for the type of work and business you run.
If your limited company comes within the IR35 rules and your income must be treated like employment earnings, you may be wondering whether there are any continued benefits to operating a business through a limited company.
Under IR35, assignments which have the hallmarks of employment will be treated as employments and both PAYE and National Insurance Contributions will be deducted from the payments by the end-user (or the agency, if there is one in the supply chain).