IR35 has come into force from 6 April 2021. IR35 is anti-avoidance tax legislation designed to assess whether a contractor is a genuine contractor rather than a ‘disguised’ employee, for the purposes of paying tax. Disguised employees refers to workers who receive payments from a client via an intermediary, for example, their own limited company, and whose relationship with their client is such that had...
February 2021 News Update – featuring additional news developments from our newsletter series Stay informed with the latest news in business support and financial affairs. We eagerly await the forthcoming budget on 3 March. The latest budget speculation reported by the media is a potential ‘stealth’ tax rise, by freezing current thresholds, as opposed to raising them in line with inflation. For now we can...
December 2020 News Update – featuring additional news developments from our newsletter series Wishing you a Very Merry Christmas. Prestige Business Management will be closed between 24th December- 3rd January. Welcome to our news update We will help keep you informed of the latest news, developments in business support and financial affairs. On 25 November 2020, the Government published Spending Review 2020. As part of...
May 2020 News Update – featuring additional news developments from our newsletter series This month has seen a decision from Rishi Sunak to continue to support businesses recovery by extending the Coronavirus Job Retention Scheme “cut-off” date until October. Whilst we also see boosted support for “Green Recovery” from the “The Clean Growth Fund” with a £40m investment, open to UK start-ups with low-carbon and...
The much-maligned IR35 roll-out for the private sector was delayed earlier this year. However, with Covid-19 causing unprecedented economic damage, there is still disquiet around IR35 and what it will mean for contractors and freelancers in 2021. Here is what we know so far? On Tuesday, 17th of March 2020, HM Government announced that IR35 changes planned for private sector contractors would now be delayed...
Budget 2020 – What It Means for Entrepreneurs, Freelancers and the Self-Employed Well, that’s it for another year… Budget 2020 is done and dusted. But how will the new announcements affect those who are self-employed, the backbone of Britain’s economy from start-up entrepreneurs to freelance creatives, and what will it all mean? We have put together a useful article breaking down the Budget for self-employed....
We are in a new year – and a new Financial Year is fast approaching. This usually means a few changes to tax that could impact individuals, self-employed, landlords, and businesses. This overview will outline and summarise the key developments these changes will create. By understanding what’s coming, we believe you can plan ahead and minimise the impact. Tax Changes in 2020 – The Low...
The future of the contractor in the wake of the changes announced to IR35 have resulted in a flurry of opinion – the subsequent delay by the Chancellor was likewise met with consternation. Uncertainty has fuelled speculation about what all this means for the future of the contractor and what the Government is trying to accomplish with these changes? This article will explore key themes...
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