Originally posted by xxxxmmmm
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When the new legislation is announced, there will be several key points to this
1. What will happen to IR35 for the previous 5 years. In theory HMRC could investigate you for this period under the IR35 criteria. Personally, I don't think they would bother, but you may need to retain insurance for this period. Insurance providers will probably (not definatley) still provide cover for this, given that the risks of investigation will probably be lower.
2. Will you be able to get insurance for work moving forward - this will entirely depend on what the new legislation is. Insurance providers may raise their prices significantly, lower them if they feel it's clearer, or bail out of the market completely if they seem the risk too high. We'll just have to wait and see
3. An unlikely scenario is that the new legislation will apply retrospectively for the past 6 years - kind of "clarifying what disguised employment always has been". Expect insurance providers to bail out of the market en-masse if this happens, leaving contractors to sweat it for the next 5 years as they won't be able to renew their insurance - or if they can, the price will be so high that they might just as well cough up to HMRC.
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