As discussions about IR35 and the influence on UK-based contractors enhance, Wood, the oil and gasoline firm based mostly in Aberdeen, have right now notified all their PSC contractors of their plans put up April 2020.
Grant Thornton are presently working with Wood to evaluate the standing of their UK-engaged contractors, aiming to complete the evaluate by mid-December to inform contractors in early 2020.
A few key factors to contemplate are that Wood aren’t utilizing the CEST software to make determinations, as a substitute these are being performed by the Wood managers, not a central operate. This is nice information because the managers will likely be extra attuned to the working practices and due to this fact higher capable of make the essential choices.
Not that they’re essentially going to verify your CV and LinkedIn profile, however it might be prudent to verify each are portraying an Outside-IR35 standing; to verify, contact our companions, The CV & Interview Advisors right here for a free IR35 CV and LinkedIn evaluate.
If the contract is judged to be outdoors of the scope of IR35, then it’s going to stay in place after April 2020 though there is a sign that this can be below revised contractual phrases. We count on this can most definitely be below a Statement of Works sort association.
If the contract is deemed inside IR35, the choices are as you’ll count on: both apply for a employees place or transfer to company PAYE the place “the speed will likely be diminished recognising the prices to be borne by the Wood participating firm e.g. prices like employer NIC.” Interestingly, there doesn’t appear to be an umbrella choice.
If you might be having to use for a employees place, having a compelling CV goes to assist your probabilities and probably offer you extra bargaining energy together with your price – you possibly can obtain a free CV appraisal right here
It’s good to see that Wood are taking the lead on this and there are particular positives to take from the announcement however, as ever, the satan will likely be within the element, and this gained’t change into clear till the evaluations are accomplished subsequent month. But it’s undoubtedly excellent news that the blanket strategy is NOT being taken.
If you’re in any respect involved how the IR35 reforms will have an effect on you, please be happy to contact us by way of the standard channels. We are very eager to have interaction with as many PSC contractors as we presumably can at this pivotal time within the contractor neighborhood. You can even register for our upcoming webinar on Tuesday 12th November at 7.15pm; register right here: ‘How IR35 Affects Your CV and 'Winning-Work' Strategy’
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