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The big picture - January 2017

Paystream News

Paul Malley

Friday 27th Jan, 2017

In December we asked our contractors to vote for us in the Contractor UK Readers Awards and we are pleased to announce that we won the title of Best Umbrella Provider of the year for the third time! As well as this, we also took the title of runner up in the Best Large Contractor Accountant category for the fifth time! We would like to thank everyone who voted for us and look forward to supporting you all further in 2017.

IR35 has been a hot topic over recent months. In our last newsletter we took a closer look at what the outcome of the legislation could ultimately mean for agencies and limited company contractors operating within the public sector.

Unfortunately this unpopular proposal was given the go ahead in the Chancellor's Autumn Statement in November, which now means that from 6 April 2017 PSCs supplying services into the public sector, either directly or through a recruitment agency, will be treated differently to PSCs in the private sector.

The new legislation makes it the responsibility of the public sector (or agency paying the PSC) to decide whether a worker is inside IR35. In the private sector it is still the worker that is expected to make the decision.

In this month's newsletter we take a closer look at what this change in legislation actually means for contractors and agencies working in the public sector along with an update regarding the tax changes coming into effect from the 6th April, and key calendar dates including the self-assessment deadline which is days away on the 31st January.

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