After over 10 years of IR35, HMRC have finally decided that enough is enough and they are now looking to re-vamp the legislation. No actual details are available but there are now working parties looking at a way forward.
This time they appear to be taking their time and thinking about it's impact and implementation.
IR35 was a "knee jerk" piece of legislation brought in by someone at HMRC who appeared to have their "bee in a bonnet" about Contractors. It assumed that all Contractors are just disguised employees. We all know that is not the case. Contractors do take risks. Most have relatively short contracts, and coupled together with no annual leave, sick pay and employee rights, they are clearly not disguised employees. Contractors offer companies a flexible option in terms of dealing with specific projects and as such are a key part of our Economy.
Let us just hope that their worth is appreciated and any new legislation now reflects their importance. We do not want any more uncertainty.
I will keep you posted on any new developments.
All the best.
Richard
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