Today the Chancellor of the Exchequer, Jeremy Hunt has announced that the government will make a sharp (and rather embarrassing) U-turn on much of the mini budget announced on 22nd September 2022. This includes the announcement of repeal of IR35. So just to clarify, IR35 legislation (reform from 2021) still stands and will remain in place.
To reiterate the legislation only applies to large companies that meet two of the three following criteria:
- You have a turnover £10.2m
- A balance sheet greater than £5.1m or
- More than 50 employees
So nothing has changed for small/medium contractors, however should you require any advice please don’t hesitate to contact the EEBS team on 01245 493832 or email info@eebs.co.uk
