IR35 Rules
We are not accountants, nor qualified to offer tax advice, the aim of this post is to signpost to some of the latest legislation that has been published about off-payroll (IR35) working rules that will impact those working in the private healthcare sector from April 2020.
You can see the latest publication released on 05/03/2019 here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/783409/Off-payroll_working_rules_from_April_2020.pdf
HMRC first changed the way off-payroll workers’ tax statuses are decided for those working in the public sector during April 2017. Many contractors working in both the NHS and local authorities were deemed inside of IR35, meaning many of them started working in the private sector to remain working through their PSCs.
Now HMRC plans to do the same for the private sector, saying that just 10 per cent of PSCs apply existing legislation correctly, with the cost of non-compliance estimated to reach £1.3bn by 2023.
So what is CAMHS professionals doing about the upcoming changes?
We are currently working with each of our clients consultatively and going through job roles on an individual basis to determine which roles fall inside and outside of IR35. This should ensure that contractors working in the private sector will be well informed before April 2020 to find out if you can continue working through your PSC.
Have you thought about working overseas?
With upcoming changes to the tax rules, we predict that many nurses, psychiatrists and psychologists working in the UK may potentially start looking overseas. We already have lots of roles to offer for any contractors working within CAMHS that may be looking for overseas opportunities, some as close as neighbouring countries. Many of these roles are extremely well remunerated, with both permanent or long-term contract opportunities offered.
If this is something you wish to explore why don’t you get in touch today to find out more about some of the opportunities, we are able to offer? To find out more information please contact Michael on 0203 150 0440 or michael@camhsprofessionals.co.uk