Off-payroll working rules – are you ready?

From 6 April 2021, medium & large businesses in the private sector will need to apply new rules. Impacted business using contractors must determine whether the contractor should be treated as employed or self-employed for tax purposes. This will have an administrative burden & could increase costs.

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From 6 April 2021, medium and large businesses in the private sector will need to apply new rules. Impacted business using contractors must determine whether the contractor should be treated as employed or self-employed for tax purposes. This will have a significant administrative burden and could dramatically increase costs (with employer NICs potentially becoming due).

The key practical steps every impacted business will need to take includes:

― Ensure relevant knowledge sharing and training is completed.

― Identification of potentially impacted contractors.

― Implementation planning and relevant communications.

― Complete tax assessments and “Status Determination Statements” where necessary.

― Consult within the business and with contractors and implement the required changes.

― Ensure there is a process for on-going review.

Find out more here:

Off-payroll working rules - are you ready? (fticonsulting.com)

FTI Consulting

In a rapidly changing tax landscape, our professionals deliver client-centric expert-led services focused on mitigating tax risk and minimising cost. As leaders in their field, the FTI senior management team members are qualified in accounting, tax, law, and surveying, and work alongside valuations and technology experts and economists to address clients’ most complex tax challenges. FTI’s team is one of the independent tax practices in the UK, and as a member of the WTS Global Network, they work alongside world-leading tax consultancies and law firms to provide solutions to clients at a cross-jurisdictional level. Our services include: Corporate tax compliance and reporting, International tax, Transaction tax, Restructuring tax advisory, Transfer pricing, Tax depreciation, Employment tax and reward, VAT and indirect tax compliance, R&D incentives, patent box and IP strategy, Real estate tax, Tax strategy and regulation advisory, Tax technology advisory.
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