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IR35 To be Scrapped from April 2023

Kwasi Kwarteng presenting his Mini-Budget in Parliament on 23 September 2022

Campaigners, contractors and businesses yesterday breathed a sigh of relief when the Chancellor announced in his Mini-Budget that all IR35 regulations in the public and private sector will be scrapped.

From April 2023, contractors will be able again to work either as Self Employed or through their Personal Service Companies without the need the assess their employment status again.

The Chancellor Kwasi Kwarteng yesterday confirmed saying, “The 2017 and 2021 reforms to the off-payroll working rules (also known as IR35) will be repealed from 6 April 2023. From this date, workers across the UK providing their services via an intermediary, such as a personal service company, will once again be responsible for determining their employment status and paying the appropriate amount of tax and NICs.”

The IR35 rules have been unpopular with businesses and contractors ever since the government decided to implement them back in 2017. Many contractors left UK altogether. For the ones who remained, the rules brought untold miseries through massive losses in disposable income and abuse through the use of some Umbrella Companies.

Government has been applauded for being pro business in its position on IR35 and encouraged to conduct genuine consultations in the future and engaging both businesses and

Author

Fungayi Mukosera