Delivered by Chancellor Philip Hammond on Monday, the 2018 Budget was another important one for contractors.
In this blog post, we look at some of the most important announcements and how they will affect contractor pockets.
Budget 2018 Articles
marketing | 30 October 2018
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marketing | 15 October 2018
/ / /Media reports suggest that the Treasury is planning to overhaul IR35 tax rules with a costly policy for limited company contractors.
The move, which could be announced in this month’s Budget, would see public sector IR35 compliance rules extended to the private sector.
Just like public sector bodies, private firms would be responsible for ensuring that off-payroll personal service company contractors stick to the IR35 rules.
If a firm deems a contractor to be ‘inside-IR35’, the contractor would need to be placed onto the company’s payroll and would be liable to pay higher national insurance contributions.
marketing | 30 October 2018
/ / / /The Treasury released new guidance on off-payroll working (IR35) in the private sector yesterday, following the Chancellor’s Budget speech.
Following a consultation on the rules, some commentators expected IR35 reforms to take effect from next year. But the policy paper reveals that the changes will be introduced in April 2020, giving businesses more time to prepare for the reforms
We’ve combed through the policy document, picking out the key points so you can understand how the changes will affect you.
