Workforce Strategy​

IR35: Preparing for the April 2020 Reform

If you’re employing contractors, transitioning to the IR35 reform
will require thorough planning and preparation. It is however an
ideal opportunity to revisit your workforce strategy.


From April 2020, IR35 legislation will change for medium and large
private sector companies:

Under Current Rules
Projects Delays
Contractors are responsible for determining their own employment status under IR35 rules and paying the relevant tax and National Insurance contributions.
Under New Rules
Projects Delays
Clients are responsible for determining the employment status of each individual contractor/agency staff.
Projects Delays
The fee-payer (either the client or recruitment agency) is responsible for deducting relevant tax and National Insurance contributions at source. If applicable, the fee-payer is also liable for the 0.5% apprenticeship levy.

How may this impact banks?

Loss of talets
Increased Costs
Projects Delays
Administrative Overhead

Preparing for the IR35 reform requires a workforce strategy review.
Doing so means making decisions by balancing a set of parameters:
flexibility requirement, risk, cost, and access to talent.

Download our brochure to find out more about the upcoming changes,
how to assess the situation, and your workforce options

Read the blog from Mark Reynolds, Senior Engagement Manager within Luxoft’s Financial Services consulting and advisory division.

Read our Blog