The day has finally arrived and contractors will be eagerly waiting to see what the Chancellor, George Osborne, proposes to do with the much hated IR35.

Much hated because it is not always clear to contractors whether they will be caught by it or not and the effects of being caught could mean a large unexpected tax bill.

The Office for Tax Simplification (OTS) has recommended it either needs scrapping or it needs enforcing better so it could really go either way!

PayMatters will be monitoring the budget closely and will report back later regarding the key changes for contractors working in the UK.

Alternatively please call us on 0800 121 6513 for one-to-one advice.