Contractor sector unmoved by Spring Statement 2019
Contractor UK has reported on ‘The quiet Spring Statement for contractors that their advisers were expecting … with a Brexit-focussed Philip Hammond making no mention of IR35.’
In its newly published document Tackling tax avoidance, evasion and other forms of non-compliance, HM Treasury refers to the introduction of ‘legislation to ensure income tax applies to … third-party arrangements and a new charge on disguised remuneration loan balances outstanding at 05 April 2019’. Contractor UK has interpreted these comments as ‘effectively rejecting recent pleas ‘to delay Loan Charge 2019’.
BKL consultant David Whiscombe noted the ‘confirmation that HMRC’s reply to criticisms of the outrageous loan charge will appear by the end of March’.
Find out more about this week’s Spring Statement in our Spring Statement 2019 summary.
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