2020 Denning Lecture (2 December)
BACFI AGM (25 November)
Student evening (21 October)
55th Anniversary Drinks (25 September)
What does a return to work look like for you? (30 July)
Applying to Become a Judge (1 July)
Brexit and IP - The Story So Far (14 May)
Challengs to Contracts (26 February)
GDPR: Decisions, decisions (29 January)
IR35 Changes: The Death of the “Gig economy”?
12th February 2020
Recent changes being brought about by HM Treasury to the rules of personal taxation for contractors and other freelancers, shifting the responsibility and liability for calculation of personal tax status of contractors to company they are working for, was the topic of our seminar on the 12th February. Our speakers were Andrew Webster, IR35 Director, Workr Group, Joseph Brown, Accountant, Cubicstone Tax and Fudia Smartt, Employment Lawyer, Partner from Spencer West. The impact of these tax changes which will affect many of our members, both hirers of contractors, and those members who are contractors. The event attracted over fifty people and we had to turn away another twenty! Our speakers gave a talk on what the changes are to Rule IR35, what companies hiring contractors need to do, what contractors need to do and the issues affecting contractors.
The seminar looked at the conflict between the legal and tax definition of an employee and consequences if you get it wrong. The impact particularly on individual contractors has been huge as the many more of them will be caught within IR35, meaning that they will pay tax as if a permanent employee on PAYE but without the security of permanent employment, and could cut earnings by at least 35%. This is also having an effect on the interim job market with demand for contractors dramatically falling at the moment. This seminar was well received and we have demand for a follow up seminar in June to see what the aftermath will be when these new rules take effect on 6th April.
A big thank you our sponsors Workr Group, who provide accountancy and other business services to contractors and small businesses, and thanks also to Patrick Rappo and DLA Piper for providing the meeting venue.
Slides can be found HERE.
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