Blogging 4 Business

A new policy paper published by the Liberal Democrats has revealed that they disagree with their coalition partners over the administration of IR35 and want to suspend the legislation.

A review of IR35 by the Office of Tax Simplification in March offered three options regarding the future of IR35 –  suspend then abolish the tax, keep it in its current form or keep the tax in place while exploring the option of introducing a genuine business test.

The government rejected the idea of introducing any sort of businesses test, instead keeping the legislation as it is whilst researching into more effective ways of administrating the controversial tax.

The newly published paper by the Lib Dems says: “we recommend the suspension of IR35 in order to gather more data on permanent abolition”, in direct contrast with the option the government actually followed.

Contractors who are looking for a hassle-free way of dealing with their finances and taxes should consider using the services of an umbrella company such as Pulseumbrella. As well as ensuring that you are fully IR35 compliant, Pulse offers a number of other benefits including holidays, sick pay and maternity/paternity leave so you can get the perfect work/life balance when you work with Pulseumbrella.