HMRC

Majority of self-employed ‘unprepared’ for IR35 changes, says EY

Nearly half of the UK’s self-employed workforce believe changes to IR35 should be delayed, according to a poll carried out by the firm

The majority of the UK’s self-employed workforce are “unprepared” for changes to off-payroll working rules, commonly known as IR35, according to a survey carried out by EY.

Starting from 6 April, businesses will determine the IR35 status of contractors working through a company in a bid to tackle non-compliance with the rules.

The firm’s poll of 500 self-employed workers revealed that nearly half (44%) of respondents believe changes to IR35 should be delayed and 17% claim it will reduce their income.

Nearly three-quarters (72%) said they were “unprepared for the change”, with 36% confirming they were unaware of the upcoming changes.

Mark Lee, EY UK’s TaxChat leader, said: “The implementation of the off-payroll working rules have been postponed once already, yet we are still in a position where many self-employed individuals appear to be in the dark. 

STORY CONTINUES AFTER ADVERTISEMENT

“With the new rules coming into effect from early April, it is now a matter of urgency for those affected to understand how they may be impacted – not only form a tax perspective but in terms of earnings and cash flow.”

 

Back to top button

Please disable your ad-blocker to continue

Ads are the primary way in which publishers generate the revenue needed to pay their staff. If we can't serve ads, we can't pay journalists to write the news.