Many of the companies who adopted blanket IR35 policies that forced contractors out of their limited companies and onto the payroll are reversing their decisions. The U-turn came after news that the government would be delaying the reforms until April 2021 in order to help businesses and contractors cope with the impact of coronavirus.…
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In the government’s first budget since re-election and leaving the EU, newly appointed Chancellor Rishi Sunak delivered a budget for “challenging times”. Amidst widespread political and social uncertainty, Sunak addressed the need for the budget to deliver immediate security for today while also laying the foundation for future prosperity.…
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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.…
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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.…
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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 to go, it’s unlikely that a review will bring about major changes.…
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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.…
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Recent IR35 tribunals have demonstrated how evidence is mainly compiled from a broad range of factors relating to status test like Direction & Control, Substitution and MOO. However, as the IR35 rules struggle to interpret the complexities of modern working practices, the other key status tests, such as Part & Parcel and Being in Business are becoming increasingly relevant.…
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There are signs that firms may be rethinking their ban on limited companies ahead of next April’s IR35 reforms. The example set by influential banks such as Lloyds, Barclays and HSBC has caused a number of companies to adopt a similar ‘PAYE only’ policy, with asset management firms Royal London and Northern Asset Management the latest to follow suit.…
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The government has confirmed that they remain committed to introducing IR35 reforms to the private sector in April 2020. While many people had hoped that the delayed budget and impending December election might stall the roll-out, HMRC are holding firm to their plans.…
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Television presenter Helen Fospero has defeated HMRC at a tax tribunal in the latest media industry IR35 case. Fospero successfully disputed a tax bill of £80,000 concerning engagements between her limited company, Canal Street Productions Ltd, and ITV during 2012-13 and 2013-14.…
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