UK Mini-Budget: Repeal of IR35 Reforms scrapped

The Chancellor of the Exchequer, Jeremy Hunt, has chosen to scrap the plans to repeal the Off-payroll IR35 Reforms, which Kwasi Kwarteng previously announced in his mini-budget on 23 September 2022.

The Growth Plan had set out steps to take the complexity out of the tax system and identified the necessity of repealing the 2017 and 2021 off-payroll working rules (IR35 Reforms).

The Conservatives Growth plan indicated that repeal would "free up time and money for businesses that engage contractors, that could be put towards other priorities." And that it "also minimises the risk that genuinely self-employed workers are impacted by the underlying off-payroll rules."

The Treasury statement fails to say why they are not continuing with the failed IR35 reforms, and simply allude to the fact they need the money.

BREAKING: Repeal of IR35 Reforms scrapped by Jeremy Hunt (contractorcalculator.co.uk)