In a surprising U-turn, coinciding with the end of the UK-EU Brexit transition period, the UK has dramatically reduced the scope of DAC 6 reporting obligations in the UK.
With the end of the festive season, the New Year is traditionally a time for us to reflect on the year just gone and identify areas for improvements which can be made in the next year. Whilst this is traditionally done on a personal sense (how to lose 40lbs in January!), this is also the perfect time to review your business processes to see if they are truly working for you and not the other way around!
The thought of lockdown round two will have given many partners flashbacks of the difficult economic conditions experienced during the spring and summer of 2020. However, from recent surveys there are strong indications that there is much more market optimism than most might think.
As we are approaching the round-up of 2020, businesses should ensure that considering the IR35 Off-Payroll Working changes from April 2021 is high on the to do list for when we are all back in January. While April may still seem some time away, to ensure compliance with these changes, time should be spent sooner rather than later to implement appropriate processes and procedures for managing contractors going forward.
Maintaining high levels of client service during a pandemic when your entire employee base is working remotely may have filled most partners and professional service firms with dread 12 months ago. But fast forward several months and this thinking has certainly changed.