⛔️ ⛔️ ⛔️ Chancellor has reversed plans to scrap reforms to the tax status of self-employed workers ⛔️ ⛔️ ⛔️

Monday, October 17, 2022

Thousands of professional consultants working in and around the Energy, Construction, Engineering, Finance, Science, and Technology sectors will be disappointed.

Chancellor Jeremy Hunt ripped up many of the tax measures announced in previous chancellor Kwasi Kwarteng’s “Growth Plan” last month.

The Growth Plan had set out steps to take the complexity out of the tax system and identified the necessity of repealing the 2017 and 2021 off-payroll working rules (IR35 Reforms).

The Conservatives Growth plan indicated that repeal would "free up time and money for businesses that engage contractors, that could be put towards other priorities.

The Treasury statement fails to say why they are not continuing with the failed IR35 reforms and simply allude to the fact that they need the money.

Commenting on the Chancellor's move to revoke the repeal, Dave Chaplin, CEO of tax compliance firm IR35 Shield said:

"The Conservatives U-turn on the repeal has thrown around half of the genuinely self-employed contractors under the bus and likely kissed goodbye to their success at the next General Election"

 

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