Interim Solutions Showcase – February 2020
My apologies, in advance, for the number of acronyms in this month’s Showcase…
The day is drawing closer for the much heralded changes in IR35 tax regulations to take place. Although still under review, private sector clients will soon be responsible for deciding whether an interim role is “inside” or “outside” of IR35, those Interims working inside requiring tax and national insurance to be deducted from their earnings. It’s worth noting that there is an exemption for Small Companies (generally with a turnover of less than £10.2M).
This is not simple. Whilst the CEST (Check Employment Status for Tax) tool provided by HMRC is supposed to help with such determinations, it is by no means perfect and HMRC are providing no further improvements to it. Arriving at a Status Determination Document (SDS) for each role will take time and care. For absolute chapter and verse, do access www.gov.uk/hmrc-internal-manuals/employment-status-manual
OK, enough acronyms…
This will be a big change for many interim providers, such as ourselves. Some have already elected to only work on assignments outside of IR35. At Bailey Montagu Interim Solutions we will continue to provide a wide range of Interims, across all professional disciplines and many sectors, for assignments both outside and inside of IR35.
To help us get this absolutely right, we have partnered with the Brookson Legal, who have over twenty years’ experience of supporting clients and independent workers and are experts in IR35 legislation. They can carry out expert assessments of roles for clients, at a very reasonable fee. They are the founding members of the Freelancer and Contractor Services Association.
This link has some useful guidance https://www.brooksonlegal.co.uk/guidance/hirer/
As ever, the changes in legislation have not been smooth, nor clear, and have caused significant disruption – nobody really likes change, do they? Suffice to say that we are fully equipped to move forward and work through the changes. If any clients are not quite as prepared as they might be and would like a sounding board, do get in contact.
My February “Showcase” of exceptional professional Interims can be found here. If any are of interest, or if you require a different skill set, do drop me a line.