BUDGET DAY – CEO of Pendragon Consultancy comments

Today has been a long time coming, and whilst we may be relieved to get some final answers there will undoubtedly be winners and losers.Known Predictions from April 6th:

  • IR35 Private Sector reforms will be implemented with minor tweaks
  • Good Work Plan, introduction of KID document for all agency workers
  • Statement of written particulars from day 1 for all employees
  • NMW / NLW increased to £8.72
  • Increased NI threshold to £9,500
  • Increase threshold for NMW breach to £500 from £100
  • ‘Naming and Shaming’ policy returns for NMW breaches
  • Increased holiday pay reference from12-52 weeks
  • Reduction or abolishment of Entrepreneurs relief
  • Abolition of Swedish derogation contracts
  • Sick pay for the gig workers and the self-employed will move up the agenda in the good work plan as revealed by the recent outbreak of coronavirus. Could mean an extra burden on engagers
  • Reduction to pension tax relief for high earners
  • Immigration policy, points based system
  • Look out for updates throughout the afternoon

For information on any of the changes above contact Pendragon Consultancy on 01992 267 067.[widget id=”recent-posts-2″]

IR35! Enough already