Lloyds have today announced that all PSC contractors will be communicated by 8th October with news that they will be offered 3 choices a) Leave b) Go Perm c) Go via umbrella company. Following which a short data capture session will be held with Line managers to capture contractor preference. Decisions will then be relayed back to the contractors starting from 9th November. All PSC contractors will need to convert to Perm or Umbrella by 29th Feb or leave the group by 31/3. There is NO CEST assessment being undertaken. Nobody will be deemed IN or OUTSIDE IR35, this is simply being communicated as a new method of engagement for PSCs. Oh. and there are NO rate increases to be offered to compensate for lower take home pay.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Lloyds show their IR35 hand.....
Collapse
X
-
-
Wow. So another bank publicly stating that their contractor engagement is a sham.
Sadly, all this is doing is telling HMRC that they've done the right thing. It's going to get harder and harder to push back when major users of contractors are taking this attitude.
Such a shame there isn't a group of professional contractors who could band together to properly fight these changes. -
Originally posted by BABABlackSheep View PostA very large financial services company.
1. Go Permie
2. Go under their agreed Umbrella provider
3. Go home
I’ve said on here a number of times that I didn’t think the large organisations will throw contractors under a bus and blanket go inside IR35 or in fact make the effort in assessing whether outside. Instead they will take easiest path and do this. There’s so many different working practices, some people will be inside some outside, even with the same job title. It’s impossible to manage.
Taxman is going to get his way it seems.Comment
-
Originally posted by registry View PostLloyds have today announced that all PSC contractors will be communicated by 8th October with news that they will be offered 3 choices a) Leave b) Go Perm c) Go via umbrella company. Following which a short data capture session will be held with Line managers to capture contractor preference. Decisions will then be relayed back to the contractors starting from 9th November. All PSC contractors will need to convert to Perm or Umbrella by 29th Feb or leave the group by 31/3. There is NO CEST assessment being undertaken. Nobody will be deemed IN or OUTSIDE IR35, this is simply being communicated as a new method of engagement for PSCs. Oh. and there are NO rate increases to be offered to compensate for lower take home pay.
Sent from my iPhone using Contractor UK ForumComment
-
Make no mistake - they HAVE made a decision that contractors are INSIDE IR35.
Using umbrellas is simply a result of that decision (you can’t be outside AND use an umbrella).
They’re just too cowardly to admit it."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
-
Originally posted by cojak View PostMake no mistake - they HAVE made a decision that contractors are INSIDE IR35.
Using umbrellas is simply a result of that decision (you can’t be outside AND use an umbrella).
They’re just too cowardly to admit it.Comment
-
Originally posted by cojak View PostMake no mistake - they HAVE made a decision that contractors are INSIDE IR35.
Using umbrellas is simply a result of that decision (you can’t be outside AND use an umbrella).Originally posted by BABABlackSheep View PostBarclays have said the same thing now. PAYE only.Comment
-
Originally posted by cojak View PostMake no mistake - they HAVE made a decision that contractors are INSIDE IR35.
Using umbrellas is simply a result of that decision (you can’t be outside AND use an umbrella).
They’re just too cowardly to admit it."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
-
Originally posted by cojak View PostActually, all it means is that there is NO outside IR35 contracting with them. Contractors can't argue the toss with them, that's all.
There are always exceptions.
Where I am at the moment they are moving all contractors to FTC or perm. Without exception......*ahem* except for me and another architect. Both of us politely turned down the offers of employment.
Lloyds will continue to have some contractors, just not hundreds of them doing bum on seat work. There are always exceptions.
I must say I'm surprised at the blanket approach being taken by these organisations. Either HR are running the show, or legal are just swerving the effort to do it properly.
I do think that most of the contractors I've met in my entire (incluidng permieland) should actually be inside anyway. I'm not quite with HMRC on the 90% figure of non-compliance. More like 75%.
Best bet for those affected is to scrimp and save. Leave early next year and be prepared to sit it out. At the end of the day the clients still need the skills. They'll either have to be more flexible with the arrangement, or pay more money.See You Next TuesdayComment
-
Originally posted by Lance View PostI doubt it's true there will be no outside IR35 contractors.
There are always exceptions.
Have you seen a NDA winging your way yet??"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
Partners
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment