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Following the introduction of new IR35 rules in April, more than 90% of contractors thought about ditching their limited companies for umbrellas in 2021.
New rules affecting private sector clients mean that contractors are much more likely to be judged ‘inside IR35’ when starting a new contract.
New figures show that HMRC pays most of its temporary workers through umbrella companies.
However, the UK tax authority has denied that it has a partial outside-IR35 hiring ban in place.
HMRC’s accounts, which run to the end of March 2021, show that the taxman engaged 403 temporary workers in one year. Of this number, only 15 were classed as ‘inside IR35’, which means they were operating through a limited company, but paying tax and National Insurance contributions like an employee.
New research shows that more than a third of contractors have left self-employment because of changes to off-payroll working (IR35) rules.
A survey published by the Association of Independent Professionals and the Self-Employed (IPSE) shows that 35% of contractors no longer work for themselves.
A survey has revealed that more than half of the UK’s small and medium-sized enterprises haven’t introduced formal IR35 processes five months after a major rules shake up.
Following the introduction of new off-payroll working (IR35) rules in April, research suggests that around one-third of limited company contractors are currently working on ‘outside IR35’ contracts.
Separate studies from Qdos and inniAccountants concluded that around one-in-three (33% and 36% respectively) contractors have been able to retain or secure a new commercial contract.
According to the inniAccounts survey, which took place in March and April, 35% of contractors said that that they were either classed as ‘inside IR35’ or blocked from working through a personal service company (PSC).
Contractors and agencies are being encouraged to share their views in a new consultation on umbrella working.
Umbrella companies support the flexible labour market by providing employment services for temporary workers.
A court has ruled that former Sky Sports darts presenter Dave Clark owes HMRC more than £281,000 in tax after he lost an IR35 case appeal.
55-year-old Clark, who suffers with Parkinson’s disease, is the latest in a series of TV and radio personalities to find himself under investigation for suspected breaches of IR35 rules.
The HGV driver shortage is wreaking havoc on UK supply chains. It’s estimated that Britain needs an extra 100,000 HGV drivers and the shortage is resulting in long queues at petrol pumps and missing stock on supermarket shelves.
Recent changes to IR35 (off-payroll working) legislation mean that many contractors are looking to set up with umbrella companies in the UK.
Although working through an umbrella company is much easier than running your own limited company, it can be confusing if you haven’t done it before. That’s why we’ve prepared this introductory guide with some of the most important things you need to know before you join an umbrella.
Are you a contractor? Are you planning to work through your own limited company in the new tax year? New IR35 rules could mean that it’s time to rethink the ltd way of working.
Changes to off-payroll working (IR35) rules mean that contractors are more likely to be caught out. From the start of the 2021/22 tax year, private sector clients will be responsible for judging a contractor’s IR35 status for the first time.
