Preparing for IR35 changes
In 2018’s Budget, chancellor Philip Hammond announced plans to radically change the way thousands of private sector businesses engage the estimated 900,000 limited company contractors in the UK. “From April 2020, every medium and large private sector business in the UK will become responsible for setting the tax status – or as it is more commonly known, IR35 – of any contract worker they use.”
Cotswold Independent Financial Services has a number of clients who could be impacted by the change which may mean they look at changing their employment status or make changes to the way they run their consultancy business. The implications of the overhaul and how it might impact an individual’s finances are discussed in Cotswold’s Financial reviewing process. If you are concerned about how the changes will impact you and your financial plans, please do get in touch. Read more about the forthcoming changes here.