Orange Genie News

IR35

A lot has been written already about potential IR35 reform in the private sector, and over the next few months we’re going to see more as the recruitment industry holds its collective breath. Whether it comes in April 2019 or waits another year, many believe reform is inevitable, and it’s likely to look very similar to the public sector reform of 2017.

This means private-sector end-clients will be made responsible for assessing the IR35 status of any contractor they hire, and they’ll be liable if their decision is found to be incorrect.

Umbrella company

Saving for retirement as a contractor can be challenging. In fact, one survey conducted in 2017 suggested as few as 27% of contractors had a pension. That means nearly three quarters were not saving for retirement.

Contractor's Guide to Workplace Pensions. Click here to download >>

Umbrella company

Given that we’ve never spoken to Shadow Chancellor John McDonnell, and that he recently told the TUC Congress that Labour intends to ban umbrella companies, our headline looks like a radical interpretation of the text. We are aware of that, but we genuinely think Mr. McDonnell would approve of what we do, if he only understood it. If we ignore that one reckless promise, we see proof of that support in his speech.

IR35

The government’s consultation on IR35 reform in the private sector closed in August. If some commentators are correct, private-sector reform may be inevitable, and it’s likely to work in the same way as 2017’s public-sector reform. There is widespread concern about the damage such reform could do, and this has fuelled criticism of HMRC’s handling of the consultation.

As part of their ongoing campaign against aggressive tax avoidance, HMRC’s disguised remuneration loan charge comes into force in April. If you have an outstanding loan balance there is no way to neatly side-step this legislation. The good news is that you could still control the damage, if you act now.

Contractor's Guide To Disguised Remuneration. Click here to download >>

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