Mar / 27
Three-Month Deferral on VAT & Income Tax Payments
Much remains up in the air regarding the government’s package of measures to support businesses during the Covid-19 outbreak. However, one measure that could significantly help limited company contractors is the announcement that Vat and Income Tax payments due between now and the end of June will be deferred for three months. This means that
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Mar / 18
Shock Delay to IR35 Reform
In a shock announcement the government has said they will delay the controversial IR35 reforms until 2021. The decision was taken yesterday evening in light of the ongoing spread of Covid-19 in order to help businesses and individuals cope in these difficult times. Steve Barclay, the chief secretary to the Treasury said: “I can also
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Mar / 12
Chancellor Dashes Hopes of IR35 Delay in Spring Budget
Chancellor Rishi Sunak yesterday confirmed plans set out by the Treasury in its recent Off-Payroll review to go ahead with IR35 reform from April 6th. Although no direct reference was made in Sunak’s speech, the Chancellor spoke of “aggressive” steps to tackle perceived tax evasion. However the budget document (2.178) reads: “The government has recently
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Feb / 27
Treasury Confirms IR35 Reforms Will Go Ahead
In January 2020, the Government announced a review of the implementation of the April changes to the off-payroll reforms and their extension into the private sector. The Review, commissioned by then Chancellor Sajid Javid, was limited in scope to ensuring the smooth implementation of the rules by addressing concerns from affected businesses and individuals. This
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Feb / 26
Eamonn Holmes Loses IR35 Appeal
Well known TV presenter Eamonn Holmes has been defeated by HMRC at an IR35 tax tribunal. Holmes appealed against HMRC’s tax assessment concerning engagements between his limited company, Red, White and Green Limited and ITV during the 2011/12 and 2014/15 tax years. The parties are yet to agree on the exact figures owed. Tribunal Judge
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Feb / 21
Can HMRC conduct a retrospective investigation if I go inside IR35?
One of the unforeseen consequences of forcing contractors out of their limited companies and onto the payroll is their fear of retrospective action from HMRC. While end-clients apparently assumed that contractors would have little choice but to comply with an inside IR35 status and non-negotiable terms, contractors’ mistrust of HMRC has thrown an additional spanner
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Feb / 12
Government Gives Runaround Response to IR35 Inquiries
Independent bodies representing the recruitment sector have voiced their concerns over the April off-payroll reforms. The Recruitment & Employment Confederation (REC), along with leaders from 14 leading recruitment agencies, has written to the Chancellor asking for a delay to the off-payroll rules. Despite the current IR35 review, representatives for the contracting industry are asking the
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Feb / 4
UK Tech Sector Will Take a Knock Over Brexit and IR35
There are warnings that the IR35 reforms will hit the tech sector harder than any other market. The reforms, due to be introduced on April 6th 2020, could heavily affect investment in the tech/IT sector. Most industries are reliant on niche tech skills to keep their IT infrastructure up to date. However, Brexit and the
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Jan / 31
HMRC publish ‘vague’ factsheet instead of response to consultation on draft IR35 legislation
Last week saw the Treasury publish a ‘Factsheet for Contractors’ on its website, leaving many to question what useful purpose the document served. While the government have said thy will release more guidance for contractors on the coming IR35 reforms, the factsheet wasn’t even published on HMRC’s website, meaning that many people looking for IR35
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Jan / 27
HSBC Tells Consultancies to Ban Limited Company Contractors
In the latest controversial move concerning their IR35 policy, HSBC have announced that the consultancies they work with must stop using PSCs. The move brings all their outsourced workers into line with the PSC ban, which requires all contractors to go permanent or PAYE. As the first company to introduce blanket policy of this nature,
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