Yesterday Chief treasury secretary Steve Barclay announced that the IR35 tax reform will be postponed by one year. The decision is part of measures announced by the Treasury to protect the economy from the coronavirus outbreak.
The reform was confirmed in the Budget less than a week ago. The measures now will come into effect on 6 April next year.
“That said, this is only a delay, albeit a very welcome one. It does, however, give private sector firms vital time to prepare for reform, which can only be a good thing for contractors. What matters now is that businesses use this time wisely.” – Barclay said.
IR35 Reform: Refresher
Read more about the reform here.
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