This has and will be a very hot topic over the coming months with the April deadline fast approaching. The new “off-payroll” tax rules are coming in to effect across the private sector as of 6th April 2020. The revamp of the existing IR35 laws, which were introduced in 2000, ensuring that contractors not meeting HMRC’s definition of Self-Employed are not benefiting from tax breaks that are associated with contracting.Since the Public Sector changes back in 2017, the rules require companies … [Read more...]
EU Settlement Scheme – One Million People Granted Status
This week the millionth person was granted status under the EU Settlement Scheme – just five months after the Scheme fully opened.The Home Office is committed to making the process of applying to the EU Settlement Scheme as simple and straightforward as possible and looks for reasons to grant status, not refuse it.This milestone has been announced alongside the latest application statistics for July, published today (15 August). This demonstrates the progress of the Scheme to date and we … [Read more...]
Announcement – IR35 Extends into Private Sector
HMRC have confirmed IR35 will extend into the private sector from April 2020. The Draft Finance Bill was released today.Please click here to view the document.If you have any questions about how this may affect your business or your Contractors, please contact one of our team about our products and services on 01252 863700, info@epayme.co.uk or click Contact Us. … [Read more...]
Banking Provider Confirms No More Contractors
Banking and IT Contractors are reeling after the Morgan Stanley decision to take no more contractors. This is a direct result of Philip Hammond’s and Theresa May’s decision to roll out the public sector IR35 changes in the private sector from April 2020. This will come into effect in October 2019.Existing contractors have been offered three options:Leave Morgan Stanley Immediately Accept a contract that is inside IR35 After 22 months of option 2 they must become permanent … [Read more...]
The EU Settlement Scheme
The EU Settlement Scheme is now officially open. After a successful launch on Saturday, more than 50,000 applications were made over the weekend. This brings the total number of applications to over 280,000.Applying to the EU Settlement Scheme is completely free, and the Home Office’s aim is to make it as simple and straightforward as possible. All you need to do is complete a three-step application with a laptop, tablet or mobile device to prove your identity, confirm you live in the UK and … [Read more...]
IR35 in the Private Sector
Act Now!With all that has happened in the Public Sector since April 2017, it was inevitable that the Private Sector was going to follow suit. The only saving grace for some agencies and workers was the fact it has been pushed out to April 2020. Even with this extra time available, it would seem that many are still doing nothing about the changes and leaving their heads in the sand.What we do know is that the Private Sector will mirror the Public Sector once a further Consultation has … [Read more...]
Have you seen our article in The Educator?
If your payroll provider is offering a deal that sounds too good to be true....... you really should have a read of our article here.Please contact us on 01252 863700 if you would like to have a conversation surrounding any aspect of your payroll. … [Read more...]
Thousands of workers are suffering incorrect Tax thanks to IR35
Thousands of employees working within the public sector are potentially being taxed incorrectly in an ongoing fiasco surrounding their IR35.IR35 has always been a tricky piece of regulation, and it seems like it's not getting any easier to manage with time. Serious questions over the accuracy of the Check Employment Status for Tax (CEST) tool are only being underlined by courtroom defeats for HMRC over status challenges. Meanwhile, confusion over the rules has contributed to an 8% … [Read more...]
Just when I thought I was OUT, they pull me back in
With ongoing research by many commentators showing that contractor’s confidence in HMRC’s IR35 CEST (Check Employment Status Test) tool is low, questions are now turning to whether the tool is now even fit for purpose. This is especially prevalent with the governments supposed determination to implement these changes to the private sector.The CEST tool is used by contractors’ and Public Sector Authorities to accurately assess and determine an engagement’s IR35 status. Provided the … [Read more...]
To Prefer or not To Prefer…. That is the question
Whilst many Recruitment Agencies utilise a Preferred Supplier List (PSL) of umbrella companies and contractor accountants, how sure can stakeholders of an agency be that this is being enforced by their workforce?Unfortunately, not everyone plays fair and with the introduction of various pieces of legislation in the past few years, the need for an agency and its directors to protect itself has never been greater. The new Criminal Finance Act especially includes the corporate offence which … [Read more...]