raid on Freelancers.
David Leyshon, Managing Director of CBSbutler, comments on Philip Hammond's £1bn budget raid on freelancers.
Expect Philip Hammond to unleash the IR35 assault on the private sector in next month’s budget. The Treasury is targeting contractors, consultants and other freelancers who are paid through ‘personal service companies’.
David Leyshon, Managing Director of CBSbutler comments;
“No surprises here! Hammond has clearly had this in his tool kit for some time. Given the fall out of workers in the health service and damaging consequences, the lessons are not coming home to the powers of be. Moreover, HMRC may well find that their efforts fall significantly short of their anticipated £265 million per annum in additional tax revenue.
Ultimately this blitz against ‘disguised employment’ is likely to turn into another white elephant - damaging our hugely successful enterprise economy in return for marginal revenue gain and creating a bureaucratic nightmare. It’s high time that some commercial reality was injected into this government.”