How to Close Your PSC if You’re Affected by the Banking Contractor Ban
Editor | 20 November 2019
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Some of the nation’s largest banks are forcing personal service company (PSC) contractors to go on the payroll, a move that will leave many with dormant limited companies. Here’s how you could close your PSC in a tax efficient manner if you’re affected by the banking sector contractor ban.

Under reforms to off-payroll working legislation, large organisations will be made responsible for judging a PSC contractor’s IR35 status from 6th April 2020.

IR35 Rules Won’t Automatically be Applied Retrospectively

With around six months to go until public sector IR35 reforms take effect in the private sector, HMRC has clarified how it will enforce the regulations.

The tax authority has announced that the new rules will only be applied retrospectively in cases where it suspects fraud or criminal activity.

NHS Consultant Fundraiser to Challenge HMRC IR35 Challenge

An NHS consultant urologist is crowdfunding his challenge to an unfair IR35 classification on behalf of other independent healthcare professionals.

Providing his services to the NHS as locum, George Mantides and others in his position are treated as employees for tax purposes, but don’t receive any of the benefits that employees traditionally enjoy.

BBC Newsreaders Lose IR35 Tribunal
Editor | 2 October 2019
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HMRC has recorded a rare IR35 victory after a tribunal decided that three self-employed BBC newsreaders were operating as so-called ‘disguised employees’.

GSK Confusion is Just ‘Taste of Things to Come’
Editor | 4 September 2019
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A sense of panic and alarm spread rapidly through the wider contracting community when HMRC sent IR35 letters to more than a thousand GlaxoSmithKline (GSK) freelancers and contractors last week. But this is just a ‘taste of things to come’ when IR35 changes are extended to the private sector in April 2020, according to a contractor interest group.

IR35 Decision Delay After Budget Cancelled
Editor | 4 November 2019
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The government has scrapped plans to hold a budget in November after MPs voted for a general election in December.

The delay creates more uncertainty about whether planned IR35 reforms will take effect in April 2020.

The Treasury has confirmed that the December 12 election will mean that chancellor Sajid Javid will not deliver a budget that was scheduled for November 6.

Employers Should Prepare for Good Work Plan Legislation

Buried deep in the Queen’s Speech, one of the government’s policy proposals is likely to have significant consequences for employers, workers and freelancers.

Speaking through the Queen, the Government stopped short of making firm employment law policy commitments, but it did affirm that it would “continue to deliver on the commitments set out in the Good Work Plan”.  

Banks to Block IR35 Contractors After IR35 Changes
Editor | 7 October 2019
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UK banks Barclays and Lloyds appear to have followed the example set by HSBC and others by blocking the engagement of limited company contractors when private sector IR35 reforms take effect.

A letter sent by Barclays to contractors suggests that the bank will stop using personal service company (PSC) contractors and tax all contractors in the same way as salaried employees.

Editor | 17 September 2019
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The controversial loan charge, which affects contractors who participated in ‘disguised remuneration’ schemes, could be scrapped after Chancellor Sajid Javid commissioned an official review into the tax.

The new review will conclude by mid-November to give taxpayers certainty ahead of the January Self Assessment deadline. It will be led by Amyas Morse, the former chief executive of the National Audit Office.

HMRC Accuses 1,500 GSK Contractors of IR35 Non-Compliance
Editor | 2 September 2019
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HMRC has sent a letter to around 1,500 GlaxoSmithKline contractors accusing them of being ‘disguised employees’ and ordering them to pay more tax under IR35 rules.

As the taxman ramps up the aggressive campaign against contractors, the letter was reportedly sent to contractors in different departments at the multinational pharmaceutical company.

HMRC’s letter says that in the 2018/19 tax year, their “view is that the contract between your PSC and GlaxoSmithKline (GSK) comes under the off-payroll working rules ‘IR35’.”

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