Two hundred and sixty-three million pounds – this was the combined tax bill handed to various government departments for IR35 non-compliance recently.
Controversial changes to off-payroll working tax rules have left some oil and gas firms struggling to fill ‘vital roles’, according to new data.
HMRC to go after ‘low hanging fruit’ in oil and gas sector as end of IR35 ‘soft landing’ period looms
Oil and gas firms that are not IR35 compliant could soon be hit with “penalty charges” as the ‘soft landing’ period wraps up.
As energy demands and prices recover from the pandemic, production pressure on the oil and gas industry has rapidly increased in 2021. Many companies are finding it difficult to recruit and, importantly, retain the talented professionals they rely on.
The “sheer scale of disruption” sparked by changes to IR35 rules have surpassed expectations, an employment expert has said.
New IR35 tax rules impacting thousands of workers across the oil and gas industry and beyond come into effect today.
For many years in the North East of Scotland, the personal service company (PSC), otherwise referred to as a one-man company, has become a fairly standard way to provide services, particularly in the oil and gas sector, due to a mixture of employment law and tax law.
While COVID-19 and Brexit have dominated the agenda for oil and gas businesses in recent times - and rightly so I should add - there is a third issue that this industry is taking just as seriously. I am, of course, referring to IR35 reform in the private sector.
Unite the Union is demanding a pay rise for hundreds of Bilfinger Salamis contractors who it claims “have not been paid a fair rate”.
The head of Bilfinger Salamis UK has said “never say never” to the potential for the firm's return to a collective deal for North Sea contractors.
A union boss has said the extension of the UK furlough scheme comes “too late” for thousands of lost jobs in the North Sea oil industry.
Shell and Unite have clashed over the number of job cuts, and purported safety concerns, at the St Fergus Gas Terminal and Mossmorran plant.
Employment experts have warned that hopes of a further IR35 delay are “fanciful”, despite months more of Covid lockdown measures coming.
There has been a lot of discussion over the last 12 months about how the changes to Off-Payroll rules will impact the UK Private sector, and I have read with great interest some of the comments and foresight on what IR35 is and what it will mean to the UK contracting workforce.
A House of Lords committee has called on the government to “completely rethink” a controversial tax reform which will have sweeping implications for North Sea contractors.
New UK Government measures to support the self-employed will cause “sleepless nights” for those North Sea workers who have been left in limbo, according to industry experts.
‘Disgust’ as Bilfinger Salamis terminates workers without option for government’s coronavirus support scheme
Workers have said they have been “hung out to dry” and “abandoned” by Bilfinger Salamis after their jobs were cut without the option to use the government’s coronavirus support scheme.
As one of the most controversial pieces of legislation affecting the flexible workforce, IR35 is never far from the headlines and there have been campaigns and protests to try and halt the reforms. That has now been successful as Contractors celebrated their success last night.
The UK Government has postponed the introduction of a much criticised tax reform that would have had major implications for North Sea contractors.
A looming tax change may be the “death knell” for many one-man band offshore contractors, a leading north-east accountant has warned.
A tax expert has described the government’s five-week review of incoming IR35 legislation as “nowhere near long enough” to fully consider its complex range of issues.
A government review has been launched into new tax rules expected to hit thousands of contractors across the oil and gas industry.
The Treasury has said it “remains committed” to changes to contractor pay rules by April, despite a delayed budget and the upcoming general election.
The eagerly awaited IR35 off-payroll draft legislation was published by the UK Government in mid-July, extending the public sector IR35 changes to large and medium-sized businesses in the private sector.
More than 16,000 people have backed a campaign to stop changes to contractor pay rules which will widely impact the North Sea energy sector.