IT’S had lots of different names and times over the years but the Chancellor’s annual Statement That Isn’t The Budget is always something to keep a close eye on.
This year, as it has been since 2010, it was an Autumn Statement. New Chancellor Philip Hammond’s first and last, in fact, with the Budget itself being moved to autumn next year and the “other” statement coming in spring. We’d love to be able to report that Mr H abolished some of the contractor-related changes brought in by his predecessor George Osborne but unfortunately we can’t.
On the positive side, though, apart from going over the changes we’ve already covered affecting contractors working in the public sector for government bodies, he didn’t introduce anything major to affect mainstream contractors. There were a few minor alterations (you soon won’t be able to put down gym membership or school fees as salary sacrifice expenses) but he did drop a few hints that more big IR35 changes may be afoot next year.
There’s also, surprisingly, a possible new higher flat rate VAT percentage for some companies, but we won’t know who that will affect and how – or even if it will be introduced at all – until next year, so watch this space.
The bottom line is this: if you’re a CEJ client, don’t worry. We will keep you informed of any changes once they are actually confirmed and, more importantly, we will make sure that you are covered. We’ve got your back.
As ever, if you have any questions just email Jo (firstname.lastname@example.org) or Peter (email@example.com).