The introduction of IR35 (in April 2020)

Gediminas

Offshore Tax Advisory
Business Angel
Mentor Group
Commercial Service
Some news for our UK residents.

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To compound this, the tax situation for freelancers and contractors – who provide most of the digital skills banks need – in the UK looks set to change The introduction of IR35 (in April 2020) shifts financial liability for defining the employment status of a freelancer from the individual to the employer. With 6% of the UK financial services workforce a contractor, this impacts a significant number of people and couldn’t come at worse time.
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Full link to the story - Times are a changing - Global Banking & Finance Review
IR35 changes - IR35 Changes 2020 - Guidance for Contractors (Updated December 2019) - Taylor Hopkinson
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
I know people quitting the country, especially financial service contractors
Yeah I know a IT contractor who has just accepted a role as an internal member of staff but in the Singapore office of his company. I reckon the move by UK will just backfire if they think people are not mobile.
 

Walter Rowe

New Member
That was one of the reasons why I left and took a contract offshore.UK will now get zero taxes from me going forward
 

Macer

New Member
I am looking to move out of uk as a non citizen it contractor. Any suggestions on where to open new LTD?
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
Depends where your clients are and where you are moving too. You would need to check your are not jumping out of the frying pan and into the fire.
 
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