Partnering with clients to prepare for IR35
Our Insights module allows production companies to unlock the actionable insights in their data to proactively grow, manage and protect their company. Our first suite of reports are live, in the areas our production company partners told us they had real need: rates overview, estimated cost to complete, Nations and Regions, contract and right to work (RTW) compliance, starters and leavers and tax and IR35 compliance reporting.
In this post we’re going to highlight the content of the tax compliance report.
Tax Compliance Report
The Tax Compliance report comes ahead of the April 2020 introduction of IR35 where film and TV production will see major changes to the taxation of its workers.
It equips production companies to understand, manage and mitigate IR35 tax risk with ease, ensuring compliance to avoid penalties and reputational damage.
- Tracks overall compliance of Schedule D team members
- Flags potential risk areas with your people contracted via a Loan-Out company on shows running through until April 2020 and beyond; to easily identify individuals to start the IR35 conversation with
- Uses logic to flag if any crew have been engaged with a non compliant grade
- Flags team members who need to provide a kit list and if this has been provided
- Flags contract length to identify team members employed over 9 months who may be a potential risk
We are in ongoing conversations with HMRC and relevant bodies to ensure that the Tax Compliance Report evolves alongside legislative updates, to keep clients’ tax compliance as up to date and accurate as possible.
What are our production company partners saying about Insights?
Our CEO asked what’s in place to let other people know what’s going on? I explained that we have a system called We Got POP, where you’ve got all the information you need and it’s so foolproof anyone can use it. It makes my job so much easier.
POP convinced us to try their platform and we had high hopes for the impact it would have. It’s fair to say that POP has exceeded our expectations. Our production contracts are now generated and signed quickly, we can track and manage compliance and policies, and we have access to a range of reporting and oversight tools which are proving really useful.
Melanie Morris, Development Executive, Mammoth Screen
We have also worked with POP on development of a Tax Compliance report with the impending update to IR35 in mind. This a fantastic insight report and really helpful in our planning as well as risk management. We are also discussing a number of new reports within the Insights suite which will add value and make good use of the available data. POP’s keenness to evolve and help us improve efficiency and improve our data analysis tools is invaluable.
Mark Hammond, Financial Controller, Mammoth Screen
To find out more about our Tax Compliance Report or to see Insights in action email us on firstname.lastname@example.org.