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26.
September
2022.
TRUSS DELIVERS ON IR35 PROMISE
Good morning  

Hope you had a good weekend. I've attached our latest press release in response to the announcement that IR35 to be repealed next year. Hope this is of interest.

TRUSS DELIVERS ON IR35 PROMISE
Kingsbridge Contractor Insurance welcomes the repeal of IR35

The announcement by Kwasi Kwarteng to repeal IR35 rules in his mini budget, has caused a huge stir in the world of self-employed contractors.

Andy Vessey, Head of Tax at Kingsbridge said, “Ever since these onerous rules were introduced, they have caused major shift in the self-employed market and have proved to be a very expensive headache for businesses. The rules placed responsibility of assessing IR35 status of a contractor with the business, but it only demonstrated over and over again that it did not work. The Governments own CEST tool could not do the job properly and people have been calling for drastic action ever since.”

Andy continued, “While we must wait for the full details from the Government, everything will stay the same until April 2023, when responsibility will revert back to the contractor. It’s a very promising move, not just for contractors, but for businesses as well. They can be confident in engaging with contractors again. Overall, it’s good news for contractors, good news for the market as a whole and good news for businesses as they will be able to find and engage with the talent, they have been missing for some time now.”

There is still some caution that should be taken with the announcement, and Kingsbridge would encourage all parts of the supply chain to continue doing their due diligence with respects to IR35. We are likely to see a number of blanket bans overturned and a range of inside IR35 roles suddenly and inexplicably become outside. HMRC will be watching for this, and those roles may be the first that HMRC investigate under the new regime.                                                            

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Further quotes/interviews are available if required.
Press Contact: Tracy Messer – PR Manager
Email: tracy.messer@kingsbridge.co.uk

Andy Vessey - Head of Tax
With over 40 years’ experience, Andy has been Head of Tax at Kingsbridge since 2019. He started his career at the Inland Revenue, before working at various accountancy practices. Andy has spent the last 20 years specialising in employment status, in particular IR35. He has successfully defended over 550+ contractors against HMRC IR35 enquiries and in 2018 he successfully represented Jensal Software Ltd at the First Tier Tax tribunal.

About Kingsbridge Contractor Insurance:
We have provided specialist business insurance to many of the UK’s Contractor community for more than 15 years. Part of Kingsbridge Group, we have industry leading expertise relating to the insurance and IR35 and risk management needs of Contractors and currently insure over 50,000 SME’s. We work with over 500 recruiters, accountancy and hiring business partners, as well as directly with Contractors. We also offer specialist We are dedicated to understanding the unique needs of our clients and experienced enough to give them expert support when they need it.