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TEAM News

IR35 Reforms on Hold for 12 Months

The Chief Secretary to the Treasury, Mr Steve Barclay, has confirmed that the proposed reforms to IR35, which would have impacted on a large number of contractors operating in the private sector, have been pushed back by 12 months, in the wake of the Coronavirus pandemic.

The rules, which were due to become effective from 6 April 2020, were designed to address the perceived "tax leakage" as a result of contractors providing their services via limited companies (often personal services companies) in circumstances where HMRC would have otherwise assessed them to have employment status, had they been providing their services on a direct individual basis.

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