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The IR35, thankfully, won’t apply to all businesses in the UK. Small businesses are currently exempt from the changes alongside sole traders and PAYE agency workers. Medium and large-sized businesses will, however, be impacted by the new legislation, especially if they are a firm who regularly engages with self-employed contractors operating under a Personal Service Company. A range of contractors will likely be affected, including builders, IT technicians and engineers, with some experts warning this could deter businesses from taking on self-employed workers. RI35 changes: The changes will impact medium and large sized businesses (Image: Getty) RI35: The main points of the 2021 Budget (Image: Daily Express) ....
| UPDATED: 07:55, Wed, Mar 3, 2021 Link copied Make the most of your money by signing up to our newsletter for FREE now SUBSCRIBE Invalid email When you subscribe we will use the information you provide to send you these newsletters. Sometimes they ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. Despite having been in force since April 2000, IR35 has been heavily slammed by tax experts and people within the business community as being poorly conceived, badly installed by HMRC and causing unnecessary cost and hardships for genuine small businesses trying to make a living. In April 2017, the Government introduced the ‘Off-Payroll Reforms’, which although is a separate piece of legislation that applies to the public sector, is also, confusingly, referred to as an IR35. ....