Chris James - Workwell @ChrisWorkwell
IR35 specialist accountant and small business adviser. Blogger and management trainer. Acquisition due diligence, process integration and automation. London, England Joined November 2018-
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@AndyIPSE @BBCNews How can anyone running a small business not feel targeted by this kind of policy. It also seems to suggest a fundamental lack of understanding of how hundreds of thousands of contractors, and hundreds of thousands of SMEs operate. On top of a 31% increase in corporation tax???
Not a good day for Ltd Co #contractors. Having seen the message get through to Gov on #IR35, and welcoming a repeal of #offpayroll rules, that repeal has been dumped, #corporationtax is going up, dividend #tax is staying up, & at home the energy price cap might go in the spring
Confirmed by #primeminister that #corporationtax going up as originally planned by Rishi Sunak, in April 2023. This actually means a marginal rate of 26.5% for smaller businesses as their profits grow between £50k and £250k.
This makes sense, as the SDS requirement is in the bit of law that is being repealed (chapter 10) not the old bit that will remain (chapter 8). #IR35 #Contractors
.@HMRCgovuk has told ContractorUK that limited company contractors will not need to complete nor ever produce SDSs after April 6th 2023. Read more: bit.ly/3yCBWdI #ir35 #ir35reform #hmrc #contractors
@HawkesworthAnne A unique man. Speak to you soon Anne. Lots and lots of love.
Nasty #budget sting in the tail for #contractors - an effective marginal rate of corporation #tax of 26.5% will apply from just £50k of taxable profits. Effective 2023 - more pain for PSCs. Get some tailored help from your accountant to mitigate... …w-contractoruk-com.cdn.ampproject.org/c/s/www.contra…
@WorkLabinsights Big number - will take years for a full recovery
Thanks @richardsergeant , and @CarringtonAcc , really enjoyed this. #ir35 #Contractors
.@CarringtonAcc @jsa_chris @JSAServices big thanks for sharing your insights and experience today - Practice Talk will be on demand @AccountingWEBuk soon. So much not covered- challenge of getting every self employed person on MTD, personal financial planning, loan charge..1/2
@Glassnearlyfull I campaigned against it Sir! Now there is a drafting problem, I'm glad they're trying to fix that. I still have issues with the whole #omnibotch.
Still more work to do here, but steps in the right direction. #ir35 #offpayrolltax #contractors
Finance Bill 2021 will exempt umbrella contractors from IR35 off-payroll rules – Norman bit.ly/2KesAP2 @jsa_chris @seeleyharris and @JuliaKermode comment #ir35 #ir35reform #contractors #contracting #jessenorman #financebill
Politically very hard for Gov to backtrack on this so late - but that doesn't mean they shouldn't. The #selfemployed won't forget this latest installment in a long line of decisions and policy that feel very anti #freelancer and anti #contractor.
"The drop in the number of #selfemployed shows the glaring gaps in support are leading to long-term, avoidable decline in the sector. This is concerning not only for the self-employed, but also for the UK’s prospects in the coming recession." ipse.co.uk/ipse-news/news…
429k (8.7%) fewer self-employed in the UK in July-Sept 2020 than in the same period last year..@ONS
Challenging times always require us to take a moment & pause for thought in order to learn from the past. This episode will help you take that moment & learn from the testimonies of two #accounting professionals that deal with your same daily challenges. bit.ly/3p3unGG
Looking forward to this...
Next Practice Talk coming soon - this time with two very different takes on a similar client type. @jsa_chris and Nicky Owen from @CarringtonAcc share their journeys into the profession and just how they build their process and services for contractors accountingweb.co.uk/practice-talk-…
Interesting technical discussion here with lots of focus on the #gigeconomy . Painful, but inevitable question posed - what kind of tax rises would be best for the #selfemployed in the future? @IPSEwestminster sensibly not agreeing to any as a 'good' option right now. #ir35 too.
⏳One hour to go until our evidence session on #TaxAfterCoronavirus, with a focus on employment taxes. We'll hear from: ✅@JudithFreedman ✅@BillDodwellTax ✅@dcribb ✅Andrew Titchener @CBItweets 📺Watch it live from 9.30am here👇 parliamentlive.tv/Event/Index/22…
@cydney0071 @FCSA_org @itcontracting @JSAServices This conversation with HMRC was about who deducts payroll taxes if they are due, in the supply chain, under the new rules. Not what is operating today, where the responsibility will most likely rest with the contractor and their own ltd company, depending what sector they're in.
@cydney0071 @FCSA_org @itcontracting @JSAServices There's no problem with having an umbrella business in the supply chain, but there's a problem with it possibly meeting the legal definition of one in the new Off-Payroll rules which come in April 21. It causes a tax / responsibility problem. HMRC agree with this and will fix.
Good meeting with @HMRCgovuk yesterday on #offpayroll reforms and the much needed 'fix' - they're moving fast on this one. And kudos to @ContractorCalc for the critical research into the issue. #offpayrolltax #tax #contractors #agencies fcsa.org.uk/fcsa-and-other…
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