To better understand the impact of the off-payroll working rules, known as IR35, HMRC recently produced a report on the short-term effects of the IR35 reform on the private and voluntary sectors. The report is fairly positive and if you took the report at face value – you would believe the roll out of the new legislation was a success.
2022 brought a huge amount of turbulence: from the energy crisis triggered by war in Ukraine to legislative U-turns and windfall tax increases creating uncertainty over investments in the North Sea.
During the mini-Budget in September, the Government repealed the recent changes to IR35 – those introduced in the public sector in 2017 and private sector in 2021.
Employment and tax experts have roundly hailed the Chancellor’s shock pledge to scrap contentious IR35 reforms.