Top Fortnightly Facts
Every fortnight, Knights’ Employment Team publish their Top Fortnightly Facts (TFFs), providing a summary of the key updates in the Employment and HR world. We start by looking at current news headlines and discussion points and finish with some quick-fire points where we touch on any other significant developments.
1. Plans scrapped to reverse IR35
It is somewhat difficult to keep abreast of the constant chopping and changing that seems to be taking place with the government’s mini-budget or otherwise these days. As most readers will be aware, the most recent previous chancellor, Kwasi Kwarteng, promised less than a month ago in his mini budget announcement to reverse the IR35 rules. For many businesses, this would have been a rejuvenation of the off-payroll system and allowed for the easier hiring of contractors with the responsibility to deal with tax shifted back to the contractor.
The new Chancellor, Jeremy Hunt, has recently announced the government’s intention to scrap plans to repeal IR35.
It is no secret that there is a deafening call for market stability following the repercussions of the government’s mini-budget last month, and it therefore seems extremely unlikely that we will see the Chancellor ‘scrap the scrapping of the plan’ in relation to IR35. The inevitability of the rules remaining is further supported by the fact that the chancellor responsible for introducing the IR35 reforms in the first place has now landed the lauded position of Prime Minister.
It seems this particular mini-budget pledge will soon become a distant memory and the current IR35 rules are here to stay for the foreseeable future.
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This document is provided for information purposes only. This list of considerations is not exhaustive and does not constitute legal advice