locumtoday writes:
Are you directly supervised in your role as a locum? If so, your tax and expenses will change and your self-employment status could be affected, writes Merin Yilmaz, payroll expert in her latest viewpoint blog.
With the new financial year and the new budget being released on the 6th April 2016, we predict that by 2017 the HMRC will phase out limited companies for contractors completely. The new legislation is just the beginning of the end for Personal Services Companies (PSC). The limited company market will slowly deteriorate to nothing by 2017. The HMRC are making PSC’s useless, they are sticking to their guns and are determined to continue with IR35 which asks contractors whether they are genuinely self-employed or under the supervision, direction or control (SDC) of anyone in their role. Further SDC tests are being incorporated that will make it a useless model of payment – especially with their new IR35 online tool coming out. The HMRC has a plan to launch an online Employment Status Indicator to test contractors’ IR35Status. HM Revenue & Customs said its aim was to have a beta version of an “IR35 specific ESI tool” by spring 2016. Their hope is for the tool to provide “clearances” on status. You can read more directly from the LocumToday Website