Private Wealth by Greenwoods is for those who care deeply about protecting not just their financial wellbeing, but the people and values they cherish most. We bring clarity to complexity, ensuring every decision supports the life you lead and the legacy you leave.
Our mission is to demystify wealth, to educate with empathy, and to support families through life’s key moments, from building a legacy to preserving it for generations to come.
Private Wealth by Greenwoods is for those who care deeply about protecting not just their financial wellbeing, but the people and values they cherish most. We bring clarity to complexity, ensuring every decision supports the life you lead and the legacy you leave.
Our mission is to demystify wealth, to educate with empathy, and to support families through life’s key moments, from building a legacy to preserving it for generations to come.
Home // Insights & Events // IR35: Repeal halted
The new Chancellor, Jeremy Hunt, announced in his speech this morning, that changes to the IR35 (or “off-payroll working”) system brought in over the last five years will NOT be reversed as promised by former Chancellor (Kwasi Kwarteng) in his “mini-budget”.
In our previous update on the IR35 regime, we provided an update on the news that, under then Chancellor’s 23 September “mini-budget” proposal, the 2017 and 2021 regime changes were to be repealed and that all responsibilities to make status determinations for individual contractors were to revert back to being that of the individual contractor/personal services company (“PSC”).
However, this proposal has been shown the door along with the former Chancellor. Mr Hunt has scrapped the proposed changes and returned the status quo. Meaning, among other things, that end-user clients will still be liable for PAYE and/or NICs if their status determination is incorrect.
If you require further advice on this or any other employment-related topics, please reach out and a member of our experienced employment team will be happy to help.
This update is for general purposes and guidance only and does not constitute legal or professional advice. You should seek legal advice before relying on its content. Greenwoods Legal Services Limited is a Limited company, registered in England, registered number 16115882. Our registered office is Queens House, 55-56 Lincoln’s Inn Fields, London, WC2A 3LJ. Authorised and regulated by the Solicitors Regulation Authority, SRA number 8011813. Details of the Solicitors’ Codes of Conduct can be found at www.sra.org.uk. All instructions accepted by Greenwoods Legal Services Limited are subject to our current Terms of Business.
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