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.…
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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 in the works of the off-payroll debacle.…
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The number of contractors shutting up shop on their limited companies is rocketing according to insolvency practitioners. With IR35 reform only a few weeks away and the PSC ban in full swing, many limited company contractors have come to the conclusion that the useful life of their limited company has come to an end.…
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The news of Sajid Javid’s resignation last week came amid rising disquiet from the contracting sector. Only the day before, off-payroll protesters had gathered outside parliament to demand an end to “zero rights employment”.
The off-payroll reforms scheduled for April are already causing havoc in the private sector, where unprepared businesses are forcing PSC contractors onto the payroll so that they won’t have to assess them.…
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The news came this week that BP contractors have until 31 March 2020 to accept a new contract that will seem them taxed in the same way as salaried workers. Contractors working for the oil and gas giant are understood to have received communication via their employment agencies that BP will sever ties with all personal service company (PSC) contractors from the end of March.…
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New research has found that contractors’ confidence in their business is at a six-year low because of government tax policies. According to IPSE and PeoplePerHour’s Confidence Index, independent workers’ projected confidence over the next 12 months has dropped to the third-lowest level since the Index began.…
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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.…
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On February 4th it was announced that a House of Lords sub-committee will conduct an inquiry into the extension of the off-payroll rules to the private sector. The sub-committee is part of a wider inquiry into the Finance Bill as it passes through Lords, which will review all proposed and existing tax legislation.…
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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.…
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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 updates wouldn’t have seen it.…
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