After months of taking evidence from Government officials, trade bodies and industry experts, the finding of the Lords report on so-called personal service companies echoes what freelancers and their representatives have been saying for years.
Few of the 16 key recommendations and summary points will make easy reading for the Government or Treasury officials. In summary, their Lordships have told HMRC that it should provide a detailed assessment of the cost and benefits of IR35, which are currently unknown. This casts doubt on the Government's figure of £520 million benefit to the Exchequer. It also refers to the complexity of the measure and the difficulties freelancers face in complying with it.
Shout99 has reported on the analysis and expert reaction to this Report. Further information includes:
Lords tells HMRC to justify continuing existence of IR35
Lords PSC report: Summary and recommendations
Lords PSC report: Be careful what you wish for
Trade group calls for suspension of IR35 after damning report
Further news and background on IR35 is available in Shout99's
News on IR35 section.
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Also.....
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Recruitment directors to be liable for false self-employment tax
New rules on Offshore Intermediaries come into force in April
Government climb-down on late payments action
Freelancers experience more buoyant market
Top contractors earning three times national average wage
Trade bodies call for action on proliferation of 'Elective Deduction Models'
In Ask An Expert, the professionals answer your latest questions.
Letters from Freelancers opens up discussions on a number of subjects of interest to freelancers.
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Susie Hughes, Editor
Newsletter 432
Shout99 - the network for freelancers
www.shout99.com
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