Sombre and powerful, a vigil-turned-protest outside HMRC’s office is further pressure on a chancellor being asked for answers -- by 55 advisers and 80 MPs.
It’s wild; hysterical and panic-inducing – and that’s only the coverage. Fortunately for contractors, the likelihood is just a reversion of the property market to 2021.
According to people who’ve been in the negotiating room with HM Treasury’s new boss, he’s versatile, open-minded, and not accepting of civil servants' scripts.
Contractor experts try to set aside their concerns, as the ex-chancellor who gave PSCs IR35 reform and next to nothing during covid is coronated Tory leader.
Officials effectively saying ‘as you were’ isn’t a message that can hurt contractors. Not after the ‘crazy situation’ their entire sector has just endured.
A PSC profits rate of up to 26.5% is back on the cards, following one chancellor’s political collapse, and his successor raising the stakes on limited companies.
Calls for a potentially ‘desperate’ taxman to offer PSCs an amnesty don’t get an answer, possibly as Status Determination Statements will come with a post-repeal ‘hangover.’
The non-believers of a ‘worthwhile’ IR35 review are numerous, but gaining ground are those already itemising fixes for the ‘restrictive’ off-payroll rules.