0345 557 1287
Office Hours: 9am to 5.30pm
0345 557 1287
Office Hours: 9am to 5.30pm

Autumn Statement 2015 considerations

So we watched the Chancellor deliver his Autumn Statement for over an hour, expecting some significant announcements on the future of contracting in the UK. At the very least we expected more information on the treatment of Travel and Subsistence expenses for temporary workers. Should we be disappointed or pleased that the speech made no reference to contractors?

The devil in the detail

Shortly after the statement was delivered, the official documents became available for general consumption here.

There was only a single paragraph that related to the treatment of contractors’ expenses post April 2016:

Employment intermediaries and tax relief for travel and subsistence – As confirmed at Summer Budget 2015, the government will legislate to restrict tax relief for travel and subsistence expenses for workers engaged through an employment intermediary, such as an umbrella company or a personal service company. Following consultation, relief will be restricted for individuals working through personal service companies where the intermediaries legislation applies. This change will take effect from 6 April 2016.

This, in our opinion, is not exactly detailed.

Draft legislation

We expect that HMRC will publish draft legislation on 9th December which should inform the 2016 Finance Act. The above paragraph does mention “consultation” so we must hope that there is still an opportunity for the contracting community to have their say in how the legislation will eventually be introduced.

In the meantime, we are still in limbo.

Keep checking our blog for any updates and opinions we can share.

So what? What is your opinion?

Share it on Twitter!

 

Recent Tweets