National insurance contributions

The UK Government has confirmed that it will extend to the private sector tax rules designed to target tax avoidance by contractors who operate through an intermediary personal service company (PSC).

The UK Government has announced that new “off-payroll working” tax rules (commonly known as IR35) will apply to the private sector from April 2020. The move will shift responsibility for determining the tax status of individuals who personally provide services through an intermediary personal service company from that PSC to the end user client.

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The government has published its response to feedback received on its proposals to simplify the taxation of termination payments, expected to come into force in April 2018.

The following table sets out the main proposals and the effect these will have on employers. Importantly, there is no change to the current £30,000 tax free allowance.

The much publicized “employee shareholder” status came into effect yesterday, September 1, 2013, offering employers a more flexible way to structure their workforce.  The new legislation applies to companies of all sizes, but is specifically targeted at high-growth, low-value companies that want a flexible workforce.

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