You’re invited to the FREE MIA and PLASA industry business event, on Thursday 30 January in London. You will hear from trusted experts to discuss upcoming changes to off-payroll rules (IR35) and Brexit. You’ll also have the opportunity to ask your urgent questions. Today, we bring you an overview of IR35 from HR expert, Nicky Gleadow…
Nicky Gleadow, Managing Director of The HR Point will discuss how the IR35 updates may affect employers and contractors at our event next Thursday. Here’s an overview of IR35 from Nicky:
IR35 – what do you need to be aware of?
IR35 refers to the tax status of off-payroll workers. This is changing from 6 April 2020. From that date the engaging business not the individual will need to determine the tax status.
Who does this apply to?
All public sector organisations and medium and large private sector organisations.
How do you know if it applies?
If you meet 2 or more of the following:
- You have an annual turnover of more than £10.2 million
- You have a balance sheet total of more than £5.1 million
- You have more than 50 employees
Equally if you work as a self employed contractor it may well apply to you, depending who you are doing business with.
What do you need to do?
As an organisation engaging contractors you need to decide the employment status for each and every worker who is not an employee. You are liable for their tax and National Insurance until you tell the individual otherwise.
As a contractor – make sure the organisations you engage with have determined your status. They should notify you of their determination and the reasons.
How do you determine a workers status?
Luckily HMRC have launched a tool to help you – https://www.gov.uk/guidance/check-employment-status-for-tax This will give a determination HMRC will stand by.
Of course it is more complicated than this, so to find out more attend the IR35 & Brexit event on 30th January 2020.
We hope you can join us in London on Thursday 30th January for a free-to-attend business event.
The event will take place at the Victory Services Club, Seymour Street, London, W2 2HF. It’s easily located, only two minutes’ walk from Marble Arch underground.
See venue on a map
10am – arrival and buffet breakfast
11am – event start
Lunch also included
3pm – Event ends
Register for your place here – www.eventbrite.co.uk/get-your-business-ready-ir35-and-brexit-tickets-
We look forward to welcoming you!