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IR35 law change #33
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There is going to be some turbulence in April for sure, but it shouldn't have massive long term implications in my opinion. Best you can do to prepare personally:
If the current client does not collaborate, increase your daily rate to cover your increased tax costs or simply run. If you can afford it, take a long break until things settle or accept a temporary financial hit on a daily rate. Some useful references/info:
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Lots of larger organisations are blanket deciding that all their contractors are inside IR35 and mandating use of umbrella companies, so if you work for larger companies you may be forced to re-jig some things. |
FYI, IR35 has been deferred until April 2021. HMRC announced the 12-month delay on March 17 as part of government measures to support the economy through the COVID-19 pandemic. |
I don't think IR35 has heralded the death of the contracting industry, but it definitely shrank it in 2020/21. |
What is everyone's opinion on the IR35 law changes that will take effect from 6th April 2020? Could this possibly be the death of contracting?
Reference: https://www.crunch.co.uk/knowledge/tax/changes-to-off-payroll-working-ir35-rules-effective-from-april-2020/
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