Within hours on HMRC publishing its IR35 guidance, members of the IR35 Forum issued a statement saying the document did not take key elements of their advice into consideration.
The long awaited IR35 guidance was published on Wednesday. The guidance will enable contractors to determine if their contract is disguised employment or if they really are in business in their own right.
Contractors working through limited companies might be tempted to switch to umbrella companies once the full extent of the Revenue’s IR35 assessment criteria becomes known next week.
It’s Budget Day tomorrow; the weeks of speculation will be over and UK taxpayers, including umbrella company contractors, will discover what is in store for them over the next 12 months.
No sooner has the furore surrounding Mr Lester died down, it now transpires that the Department of Health has been paying 25 senior members of staff through limited companies. In fact more than £4 million has been paid out in this way.
A lot of contractors were probably waiting with bated breath to hear the latest news from the IR35 Forum. However, they were in for a disappointment when HMRC postponed the meeting scheduled for the 18th of January, saying there was more work to be done.