The Official Budget 2016 thread

[seeourbee]

They didn't, it's more commission for them.

[DaveB]

For those in the Public Sector, it looks like we dodged a bullet for now.

Nothing until 2017, and then agencies will be required to establish IR35 status for public sector gigs. We will carry on providing the QDOS/Accountax/AN Other reviews, everyone carries on as before.

[northernladuk]

Can anyone summarise what has happened to contractors in the budget? I won't be able to dissect until tonight.

There is a new tax on daft questions. Get saving.

[lucyclarityumbrella]

Look on the brightside, if you have kids you can still get childcare vouchers via salary sacrifice

2.35
Salary sacrifice
– The government is considering limiting the range of benefits that
attract income tax and NICs advantages when provided as part of salary sacrifice schemes.
However, the government’s intention is that pension saving, childcare, and health-related
benefits such as Cycle to Work should continue to benefit from income tax and NICs relief when
provided through salary sacrifice arrangements.

[heyya99]

They didn't, it's more commission for them.

But clients have to be willing to pay extra. And if only some put their rates up then clients can choose cheaper service providers.

[northernladuk]

Look on the brightside, if you have kids you can still get childcare vouchers via salary sacrifice

2.35
Salary sacrifice
– The government is considering limiting the range of benefits that
attract income tax and NICs advantages when provided as part of salary sacrifice schemes.
However, the government’s intention is that pension saving, childcare, and health-related
benefits such as Cycle to Work should continue to benefit from income tax and NICs relief when
provided through salary sacrifice arrangements.

<-- No kids..

Great. Thanks for that.

[jamesbrown]

For those in the Public Sector, it looks like we dodged a bullet for now.

Nothing until 2017, and then agencies will be required to establish IR35 status for public sector gigs. We will carry on providing the QDOS/Accountax/AN Other reviews, everyone carries on as before.

Possibly. It really comes down to whether and how the tests change, as they explicitly mention a consultation on changing the applicable tests (read: ESI).

[DaveB]

<-- No kids..

Great. Thanks for that.

Grown up kid.

WNLUKS+1

At least I still have a viable business model (for now)

[seeourbee]

If the market moves as a whole, there is simply no choice. It's like energy suppliers, when one moves they all have to move. No one will not want to move if they can. It's just simple economics and it will be facilitated via the agencies. Quite simple really, assuming they want to stay in business.

[Gigglepits]

But clients have to be willing to pay extra. And if only some put their rates up then clients can choose cheaper service providers.

I guess that's where being a specialist in your area and great at what you do cones in. If you're just a commodity keeping a seat warm you may struggle.