With the introduction of the new legislation due in a matter of weeks you will spot a trend with this month’s newsletter – help and advice regarding the off-payroll working legislation. For instance, if you’re a limited company contractor affected by the changes, you may not be aware of how an umbrella company differs from an agency payroll, so we explain the difference between the two and the benefits that can be gained from working as an umbrella company contractor.
The last minute review of how the new rules would operate, brought about by an intense campaign by and on behalf of the contracting industry, led to HMRC undertaking a detailed review of the draft legislation due to come into effect on 6th April 2020. Here is a quick look at the key outcomes and what you need to know ahead of the deadline.
As the Self Assessment tax return deadline of 31st January draws closers, we thought it would be important to remind you of remaining vigilant to scammers who imitate HMRC in an attempt to steal the hard-earned money of our contractors. There are many inventive ways in which these scammers work, through multiple channels in an attempt to trick people into a false sense of security. Read on to learn more about what to watch out for.
On November 30th the Chancellor advised that Government would carry out a review of the IR35 private sector reforms which are due to be rolled-out in April 2020. Today Government have confirmed that the review is taking place and defined the scope of the review.
The public has spoken and Boris Johnson has been elected as Prime Minister. Even though the Conservative Party said they would review the IR35 reforms in the private sector, given they were the architects of the legislation we strongly believe that these changes will go ahead as planned however watch this space for further announcements.
Last month we reviewed HMRC’s Check of Employment Status for Tax tool after HMRC refused to accept NHS Digitals status determination outcomes that had been generated by their very own tool. Now with less than 20 weeks to go before the new off-payroll working in the private sector rules are due to come into effect in April 2020, HMRC have finally launched an updated CEST.
Does anyone remember a Chancellor of the Exchequer called Philip Hammond? Seems that much has happened since he introduced the idea of an Autumn Budget and a Spring Statement to rationalise the tax raising and public spending announcements for the forthcoming fiscal years. It seemed a sensible thing to do and everyone quickly adjusted to it.