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A controversial set of changes to off-payroll working (IR35) rules is due to take effect in the Private Sector from next April.
For contractors, the next few months represent a crucial period in which to prepare for the changes and minimise the financial impact of the tax changes.
To help you get ready for the April 2021 IR35 reforms, we have published a brief guide with only the key facts that you need to know about.
A new report into contractor productivity has found that firms with at least 11% of their workforce as contractors are more productive, with each employee generating an extra £4,669 for their organisation on average.
Researchers from the Trinity Business School and the University of Derby said the results showed the important role that contractors can play in the UK’s recovery.
HMRC and the Treasury have published a weak response to a damning House of Lords committee report on off-payroll (IR35) working rules.
Industry commentators said that while the response acknowledged many of the issues facing limited company contractors, they failed to propose any proactive solutions.
Controversial changes to off-payroll working (IR35) rules are set to come into force in April 2021, after MPs ignored a call to delay the changes until 2023.
Changes to the way IR35 rules are applied in the private sector were originally penned to take effect in April 2020, before pandemic-related uncertainty forced a stay of execution from lawmakers.
HMRC’s Check Employment Status for Tax (CEST) tool has been a touchy subject for contractors that want to find out if they will be inside or outside IR35.
The online tool was first introduced in 2017 to help contractors and their engagers judge employment status for tax purposes and, ultimately, how a contractor will be taxed.
The service asks a series of questions based on key legal criteria. It helps provide a judgement in most straightforward cases, with assistance in more complex cases available through a handbook and the HMRC call centre.
It’s World Mental Health Day on 10th October. We’d like to take the opportunity to remind our contractor customers that you have access to a free professional counselling service with Umbrella Rewards. If you are affected by mental or emotional strain, especially in these difficult times, login to the Umbrella Rewards Customer Portal and visit the 'Care & Support' area.
IR35 concerns and the coronavirus lockdown has had a negative impact on UK contractor wellbeing and finances, a survey has found.
The survey of over 1,000 limited company contractors found that many were disappointed to be excluded from government support schemes like the self-employed income support and furlough schemes.
Umbrella companies allow contractors to achieve IR35 compliance. If a limited company contract is deemed ‘inside IR35’, contracting through an umbrella company is usually preferable.
This will become more important as an upcoming rule change will mean that many more contractors are caught out by IR35 legislation.
A House of Lord committee has concluded that the government needs to address a raft of unfair flaws in the IR35 system, before new rules are implemented in the private sector.
Lords on the Economic Affairs Finance Bill Sub-Committee found that IR35, which is supposed to tackle tax avoidance by people in ‘disguised employment’, has not worked properly since it was introduced 20 years ago.
The government has announced that changes to IR35 rules in the private sector will be pushed back by one year, due to disruption caused by the coronavirus.
