The government has made a big last-minute decision in respect of IR35.
A decision has been made to delay the changes until 6 April 2021 giving us a little over 12 months extension to one of the biggest changes to our tax system in recent years.
This is a great move in light of the current economic situation but many will argue it has come too late. So many contractors have already made significant changes to how they operate and many at the loss of thousands of pounds of income each year.
At MBS we would still encourage you to continue reviewing your situation as soon as things return to normal. With Brexit being in the way for most of 2019 the action required regarding the IR35 changes being put off until only recently it left many contractors in a state of panic.
I’d suggest last-minute reacting like this doesn’t allow for the best possible outcomes. We are a business who truly believes that good effective future planning and taking action on this leads to far better outcomes.
Ensure that you are putting good plans in place as soon as possible regarding taking control of your own future.
The government are insisting that this is not a cancellation but just a delay. We fully expect that this will happen in a years’ time and you should be prepared.
For now, however,you can rest assured that nothing needs to alter with your current setup and working arrangements.