Compliant flexible PAYE solutions for contractors & freelancers
Specialist limited company accountancy for contractors
Giving workers in the construction industry greater flexibility
Bringing you exclusive discounts, the best deals and offers
Company Rescue, Recovery and Closure Advice for Business Owners
Industry leading solutions for agencies
Why wait? Call or email us now to find out how we can help
Jeremy Hunt has scrapped plans to reform off-payroll working rules (IR35) days after replacing Kwasi Kwarteng as Chancellor.
IR35 rules apply to contractors that operate through a limited company. Currently, a contractor’s IR35 status is assessed by the contractor’s client, but Kwasi Kwarteng’s now infamous mini-budget included plans for contractors to determine their own IR35 status from April 2023.
Liz Truss’ new Chancellor Kwasi Kwarteng dropped an IR35 bombshell today, announcing he would reverse off-payroll (IR35) reforms in the Public and Private sectors from April 2023.
The significant, and generally unexpected announcement means it will be up to individual contractors to decide whether they are inside or outside IR35, with no input from their clients.
Kwarteng said reversing the reforms is aimed at taking complexity out of the tax system.
In his September ‘mini-budget,’ the new Chancellor Kwasi Kwarteng dropped an IR35 bombshell, reversing recent reforms in the Public and Private Sectors.
The announcement left some contractors with important questions that we’ve tried to answer in this blog post.
Leading recruitment companies have urged the government to delay and ultimately rethink IR35 reforms, warning that the tax changes will damage the industry and wider economy.
Fourteen companies including Adecco, Harvey Nash, Hays, Reed and ManpowerGroup wrote to Chancellor Sajid Javid last week pleading with him to reconsider the changes that affect off-payroll contractors working through limited companies.
Under the new rules, contractors working in the private sector will no longer be responsible for judging their employment status.
