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With over five decades’ experience serving a diverse range of clients in the South West, we possess an unbeatable depth of knowledge across a wide range of industry sectors.
Our specialist partners and teams can provide expert advice on everything from farming and agriculture, to military tax allowances. We’re here to help you make the most of your planning opportunities so that you can grow with confidence.
It is now a year since major change to the off-payroll working (OPW) rules. The OPW regime requires a decision on employment status to be made for tax purposes, broadly analogous to the decision required by the IR35 regime for those working through an intermediary, typically a personal service company.
The government’s aim is that those working ‘like’ employees, but through an intermediary, pay roughly the same income tax and National Insurance contributions as employees. From 2021 the responsibility for making the employment status decision passed from the “contractor” to the “hirer” where the hirer is a medium and large-sized organisation.
HMRC compliance has changed from 6 April 2022. Initially, penalties were not charged for inaccuracies relating to the new rules, unless there was evidence of deliberate non-compliance. This grace period is now over.
Contractor or hirer, wherever you fit on the spectrum, we recommend taking stock of your position.
Do please contact us for an OPW/ IR35 health check to reduce risk and increase business confidence.