Issues around IR35 rules have reared their head again after the Prime Minister unveiled his extensive plans for reinforcing the UK’s energy security.
The chief executive of IR35 Shield has accused off-payroll legislation of suppressing the self-employed workforce, when it should be “unleashed, to get the UK economy growing and thriving again".
Finding and retaining skills and experience are, once again, among the most pressing challenges facing the energy industry.
Research conducted by IR35 specialists Qdos has found that the controversial tax regime is still the highest concern of offshore contractors.
Chancellor Jeremy Hunt’s Spring Budget focussed heavily on getting people into work, however, glossing over the issue of IR35 reforms “smacks of irony”.
Conservative backbencher Sir John Redwood has called for Prime Minister Rishi Sunak to reverse the "very bad deal" IR35 is bringing to self-employed workers.
The erosion of the rights and pay of North Sea energy industry workers appear to have taken a further turn for the worse amid the gig economy.
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.
Despite the rising cost of fuel bills, more than one-third of contractors surveyed by IR35 insurance provider, Qdos, named off-payroll tax legislation as their biggest concern of 2023.
The oil and gas sector has relied on contractor talent for many years. With uncertainty on the horizon for 2023, the flexibility and agility offered by this workforce will be more important than ever.
Issues around off-payroll working rules are likely to continue to rear their head next year as demand for sparse skills increases.
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.
An employment expert has slammed a UK Government report into the short-term impacts of loathed IR35 reforms.
In the Government’s Autumn Statement, Jeremy Hunt highlighted the need for the UK to secure its energy independence and made reference to the energy sector’s cyclical nature.
Chancellor Jeremy Hunt has been criticised for his U-turn in abolishing IR35 reforms, and today's "budget doesn’t help matters", according to one specialist.
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.
Prime minister Liz Truss announced her resignation today following a turbulent 44-day tenure at Number 10.
Plans to repeal contentious off-payroll working rules that impact numerous oil and gas workers have been scrapped.
Liz Truss’s plans for major projects and new exploration in the North Sea is set to create a surge in demand for experienced contractors in the energy sector, yet the industry is already struggling to recruit amidst a national engineering skills shortage.
As the new Conservative party leader takes the reigns, the country will be waiting to see which of the tax cuts and other various legislative ideas promised during the election are put into practice.
With her place as the UK’s next prime minister secure, Liz Truss will soon face a tidal wave of energy policy and security decisions likely to test her campaign promises.
Liz Truss has pledged to review IR35 tax legislation should she become the next Prime Minister of the UK.
The recently published House of Commons Public Accounts Committee (PAC) report into the IR35 reforms has confirmed that the UK needs an effective tax framework to enable businesses to access the flexible workforce.
Two hundred and sixty-three million pounds – this was the combined tax bill handed to various government departments for IR35 non-compliance recently.
The oil & gas industry was arguably worst hit by the IR35 changes, due to heavily relying on consultants, particularly lawyers. Understandably, some businesses are still unsure of how to manage IR35’s stipulations so they can access instant legal expertise, and ease pressure on in-house legal teams. But there is a way forward, which can minimise the impact IR35 has on businesses. Using freelance providers can ease a huge admin burden, but it’s important business understand their obligations too.