REC figures on the Economy!

In my profession it is important to be knowledgeable about employment law and the Conduct Regulations.  This week I attended a training session held by the REC on IR35 and the introduction to the Private Sector in the proposed month of April 2020.

Do you have contractors working for you?  If so and you are a company with over 50 employees, a turnover of over £10.2m and a balance sheet total of not more than £5.1m this new legislation will affect you!

It is suggested that if you have contractors after April 6th 2020, to end their contract and payroll payments before that date, say 3rd/4th April 2020 to make it simple if you are going to renew their contract and continue with their services.  You then need to make a decision on whether your contractors are in IR35 or outside of IR35? #rec or #ir35.

Using CEST in not a reliable way to determine status and has been challenged in the Courts, so best to contact an Umbrella company recommended by the REC to audit your situation.

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