Money Laundering Legislation and the Umbrella Market.
This week the FCSA have met with HMRC to discuss the current IR35 reforms that are expected to impact the private sector.
It has been made very clear that the reforms will be introduced in the private sector but, what is still unclear is the time frames on this.
The FCSA are campaigning against this as it is our belief that HMRC will look to implement this in 2019 despite the issues with the CEST tool and public sector implementation so far.
So what needs to be done?
Given that action on this looks almost inevitable we believe the best approach on this is to ensure that any change is as minimally damaging as possible.
Despite HMRC being pro IR35 they do appear genuinely receptive to hearing alternative proposals. This would be our best opportunity to aid HMRC on this by giving genuine proposals on how to tackle the poor compliance that surrounds this sector.
Any input you can give on this would be warmly received and greatly appreciated so please get in touch.
The meeting
Julia Kermode the FCSA’s Chief Executive Met with Liz Truss MP, Chief Secretary to the Treasury. Here is what she had to say ‘It was refreshing to hear her view that the government needs to be unashamedly pro-business in order to best tackle key issues such as the economy, Brexit, and productivity. I will be following up with her in relation to the potential impact of IR35 changes on businesses in the private sector.’
If you have any thoughts on how to tackle un-compliance in the private sector call us on: 03331212001