Taqa moving ahead with ‘death knell’ tax change
At least one North Sea operator is going ahead with a “death knell” tax change affecting self-employed contractors in the oil and gas industry, despite the UK Government postponing its introduction.
IR35
It’s taken a pandemic…but government finally folded to IR35 pressure
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.
UK Government postpones changes to IR35 tax rules
The UK Government has postponed the introduction of a much criticised tax reform that would have had major implications for North Sea contractors.
Chancellor dashes any lingering hopes of North Sea reprieve on IR35
Any lingering hopes of a reprieve for North Sea oil workers from an unpopular tax reform were dashed by the Chancellor today.
IR35: Lords investigation told ‘people don’t know where they stand’
A House of Lords investigation into upcoming IR35 reforms has been told that additional guidance is needed on employment definitions in the UK.
Scores of North Sea contractors set to shun sector over IR35 changes
Oil and gas contractors are set to shun the North Sea sector rather than join supermajors after the introduction off-payroll working (IR35) tax changes next month.
Union boss ‘not surprised’ by North Sea contractor flight
Jake Molloy, RMT Union regional organiser for the north-east of Scotland, last night said he was “not surprised” by the news that contractors are rejecting the PAYE offers by oil firms.
Government review of IR35 slammed as ‘recklessly inadequate’, despite ‘light touch’ pledge
A UK Government review of new tax rules expected to affect thousands of oil and gas workers has been slammed as “recklessly inadequate”.
‘Time someone said something about the IR35 industrial rip-off’
Energy Voice has been running regular articles about the pending HMRC changes that will see the current IR35 arrangement altered to prevent, we are told, tax avoidance.
North Sea contractors risk ‘random’ HMRC tax audit after IR35, top accountant warns
Tighter tax rules after the introduction of IR35 could see North Sea contractors face “random audits”, according to a north-east accountant.
MP calls for IR35 changes reversal ‘to protect jobs in Aberdeen’
An Aberdeen MP has called for a u-turn on national tax plans- saying oil workers will be hit hard.
IR35 tax reform – time to get to grips with it
At the heart of the IR35 tax reform is £700 million each year in tax avoidance by personal service companies (PSCs), according to HMRC.
IR35 could be ‘death knell’ for one-man band offshore contractors
A looming tax change may be the “death knell” for many one-man band offshore contractors, a leading north-east accountant has warned.
No magic wand to deal with off-payroll working rules
Aberdeen-based consultancy Hunter Adams recently convened 40 senior HR leaders from the oil and gas sector to debate the practicalities around the implementation of the IR35 reforms, due on April 6, 2020.
Addleshaw Goddard looks to IR35 reforms with new legal director
Addleshaw Goddard is strengthening its Aberdeen team with the appointment of a new legal director.
IR35 review is ‘just paying lip-service to election promises’
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.
2020 – A busy year ahead
Following the result of the general election, we can now expect to leave the EU at the end of January, although very little will change on that date as we will move into a transitional period when existing EU rules and trade terms continue to apply in the UK.
Government launches review of controversial IR35 tax rules
A government review has been launched into new tax rules expected to hit thousands of contractors across the oil and gas industry.
Plan, prepare and pre-empt: Watchwords for 2020
The new year always brings into focus those things which have been delayed or ignored over the last twelve months. In a corporate setting this can be damaging to a business and in the oil and gas industry, it could have significant compliance issues. With that in mind, there are some key areas oil and gas businesses should turn their attention to, to be fully prepared for entering 2020.
RSM’s 2020 oil and gas forecast: IR35, skills gaps and cautious optimism
Optimism with reservation
New IR35 rules could hit oil and gas workers hard, MP warns
North-east oil and gas workers face a 25% loss of earnings if new tax rules come into effect next year, an MP has warned.
Oil industry welcomes new UK government ahead of sector deal and IR35 changes
The oil and gas industry has welcomed the new UK government as it looks ahead to a “transformational” sector deal and braces for tax changes for thousands of contractors.
IR35: Some key questions answered
The UK government's draft legislation for the Finance Bill 2019 spells out HMRC's plans to extend IR35 compliance obligations to end users in the private sector. Since its publication, familiarity and anxiety with IR35, also known as the 'off-payroll working rules', has escalated rapidly. Matthew Sharp, tax specialist at Fieldfisher, answers some of the questions that have emerged from greater awareness of the proposed legislation.
Tension as North Sea firms grapple with IR35 rules
Tensions over new tax changes to offshore contractors arose yesterday as Cnooc International became one of the first North Sea firms to roll out its new off-payroll working rules.
Are you ready for IR35 – the new rules of ‘the game’?
Based on the current approach the answer is no. Throw in a deferred budget and an election to make it extra interesting and confusing.