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IR35 scrutinised as uncertainty and unanswered questions remainby
The readiness of businesses for the impending off-payroll rules in the private sector came under question by the accountancy bodies at the House of Lords finance bill subcommittee evidence hearing last Monday.
Representatives from the accountancy bodies told the subcommittee that businesses are not ready for the reforms to come into effect in April because the “legislation is not yet ready”.
As part of the House of Lords finance sub committee’s investigation into the extension of the off-payroll working rules into the private sector, the professional body representatives raised concerns in particular over the uncertainty on the rules.
Anita Monteith, the tax technical lead at the ICAEW said: “We’ve still got around 100 questions sitting with HMRC that we’ve asked on specific technical matters and we have been told that we aren’t going to get specific answers to those questions.”
HMRC told the ICAEW that the answers will become apparent when the guidance is released.
The subcommittee also heard how small and medium-sized businesses are less ready because unlike large employers who have in-house tax teams, they’re not knowledgeable about tax – let alone something as complicated as what the off-payroll reforms have become.
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