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Industry riding high despite stormy seas
In our industry we’re always navigating through stormy seas. One challenge after another – new legislation, new rules, changing tax guidance – threaten to throw us off course. Even sink us.
But our experience over the last few years shows that we’re a very resilient, buoyant industry.
Only a year ago, it looked like the umbrella model was unsustainable in light of changes to travel and subsistence rules. Yet, 12 months down the line, umbrella PAYE solutions are as popular and as effective as ever.
With the new IR35 rules in the public sector that came into effect last month, many prophesied doom. Yet we’ve seen examples of organisations, having used the digital tool, deeming that none of the contractors they engage are caught by IR35. Where IR35 does apply, umbrella PAYE is a commercially viable alternative to a deemed salary arrangement.
Should these IR35 rules be extended to the private sector (which seems highly likely – possibly as soon as next April), this interest in umbrella solutions will only increase.
We’re riding high. And whatever threatens to rock the boat in the future – the Apprenticeship Levy, pensions, additional workers rights, Brexit – we will continue to weather the storm. Surf’s up!