Good news! The Government has confirmed that an independent review of IR35 ‘disguised employment’ legislation will be submitted in time for next year’s Budget.
Importantly, it will give the Chancellor enough time to take a close look at any significant findings before he slams down the red box in Westminster’s innards.
Exchequer Secretary to the Treasury, David Gauke was quizzed by fellow Tory Mike Freer about what steps the Treasury were taking to simplify the tax system. Mr Gauke took advantage of the softball questioning and waxed lyrical about the work of the Office of Tax Simplification.
He gleamed: “The OTS is looking at two areas. One is reliefs and exemptions, and although the timing of the publication is to be finalised and that is a matter for the OTS, there will be an interim report, I believe in November, on this area. With regard to the reform of small businesses, including IR35, the OTS intends to report in time for the Chancellor to take into account its views in preparation for the Budget.”
Here at Crunch online accounting, we’ve been endorsed by trade body PCG (Professional Contractor’s Group) as a result of our expertise in tackling IR35.