Autumn Statement, a quick overview

philip-hammondThe Government announced a number of changes that will affect the temporary workforce in the Autumn Statement. Planned changes to off-payroll working in the public sector are going ahead and a crackdown on perceived VAT avoidance through the use of the Flat Rate Scheme will affect most Personal Service Companies.

The devil as always is in the detail, and at the time of writing we do not have this, but it’s fair to say that the financial benefits of running a PSC are going to be lessened come April 2017 and many contractors may seek other ways of receiving payment.

However, the temporary worker supply chain will continue to be of key importance to the UK economy and whilst the most beneficial tax arrangement may no longer be through a PSC it’s unlikely that a traditional employment model will be effective for temporary workers who move between end clients and who also may be active in both the public and private sectors.

JustAccounts is committed to providing an efficient platform for the management and payment of temporary workers regardless of the scheme and whilst there is uncertainty around what the autumn statement means, the demand to make compliant weekly or monthly payments to contractors will continue.

For more information feel free to contact JustAccounts on info@justaccounts.com or call 01942 721 397.