Tax Changes Will Take Effect April 2020

​The United Kingdom’s new IR35 tax rules take effect on April 6, 2020, and will shift the burden of tax withholding and payment compliance from independent contractors’ personal service companies (PSCs) to the ultimate company needing the services (“end users”).

From April, businesses using independent contractors hired through PSCs will need to comply with significant new tax obligations. Noncompliance may result in large back payments of tax and national insurance contributions (NICs) plus any applicable interest and penalties. Many companies have yet to take appropriate action to address the new rules despite the approaching deadline. This article explains the new rules and offers suggestions for what action companies subject to them can…

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Credit to Lisa Rix for the original post.

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