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Newsletter 432: House of Lords issue damning report on IR35

by Newsletter Editor at 10:15 10/04/14 ( Shout99 Newsletter)

The House of Lords has told HM Revenue and Customs to justify the continuing existence of controversial freelancer tax IR35.

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. ************************************************** Advertisement - Protection against IR35 investigations (FO35) ************************************************** Advertisement Protection against disputes with HMRC on tax matters, including IR35, is available for £116.00 a year. Freelancers Outside IR35 (FO35) is a complete operating system for small businesses with guidance on compliance; draft contracts; a helpline; status assessments; and representation by Qdos Consulting in the event of a dispute with the Revenue on tax; VAT; or IR35 issues. FO35 is available online for immediate cover for £116.00 a year. For more information or to order, see Freelancers Outside IR35 (FO35). *********** Also..... *********** 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. ******** Twitter ******** For the twitters and tweeters among our readers, you can follow Shout99's headline news on Twitter:... www.twitter.com/Shout99Ltd ************************ Shout99 - Newsletter ************************ Please feel free to forward this newsletter to any other freelancer or small businesses who may be interested in news and information related to running a small business. You can subscribe to receive your own free copy of this newsletter on the home page of Shout99. -- Susie Hughes, Editor Newsletter 432 Shout99 - the network for freelancers www.shout99.com Tweet

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