Feb / 5
There are signs that the banking sector could be heading towards a major crisis in the lead up to the Off-Payroll reforms in April. This was the sector that instigated the now widespread PSC ban, which has resulted in many contractors being forced out of their limited companies and onto the payroll. Banks are particularly
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Feb / 4
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
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 / 28
Concerns were raised as HMRC published draft secondary legislation of the off-payroll rules for technical comment on 22 January. The release of the draft legislation has occurred before the completion of the government’s review of the IR35 rule changes. This has lead many to believe that the review won’t make any meaningful amends. Many businesses have been
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Jan / 27
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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Jan / 15
As the April deadline for rolling out IR35 to the private sector draws closer, the confusion surrounding the reformed legislation continues to grow. It’s little surprise then, that the number of businesses seeking to minimise their liability risk with blanket policy shows no sign of diminishing. In theory, the government has vetoed the use of
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Jan / 14
The government announced the official launch of its Off-Payroll Review on January 7th. The review follows the pre-election pledge made by Chancellor Javid in an interview with BBC’s Money Box on November 30th 2019. Although the announcement makes good on the government’s promise to address public concerns regarding this legislation, it has already received criticism
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Dec / 19
Although the Conservatives were somewhat reluctant to join the other political parties in promising an IR35 review, their win will at least remove some of the uncertainty surrounding the off-payroll reforms in April next year. The landslide vote looks likely to bolster the party’s belief in its own policies, and with the new legislation ready
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Dec / 18
HSBC contractors working through the recruitment outsource agency Resource Solutions have been told that they must go onto the agency’s payroll or leave. Resource Solutions supply contractors working within HSBC’s Global Banking and Markets (GB&M) division, which helps businesses to establish international trade relations. The correspondence, sent to all GB&M contractors, informs them that as
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