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Banks try to swerve IR35 with “no PSC” policy

Banks try to swerve IR35 with “no PSC” policy

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Lloyds are the latest banking group to adopt a “no PSC” policy, meaning the contractors they engage won’t be able to work through a personal service company or limited company. On Tuesday, the company informed thousands of its contingent staff that they would lose their contracts if they didn’t join a PAYE umbrella company, which would see their pay reduced by around 30%.…

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