‘HMRC has previously focused elements of their IR35 activity on workers in the oil and gas sector and the proposed changes, which will put the onus on the end user of the services to assess the arrangements, will put more pressure on the operators and will likely lead to increased scrutiny going forward. IR35 Oil and Gas Sector Worries About Contractors Going Overseas. It’s still an unknown how many contractors in the oil and gas sector will simply look for contracts overseas because of the extra tax burden on them. This is basically a massive pay cut for them. If there is a substantial number who do this it will have a massive effect on oil and gas companies operating in the North Sea. As an illustration, an oil and gas contractor on a day rate of £500 could be looking at an IR35 liability in excess of £150k for a 6 year period (this is an estimate – book a free personal IR35 liability calculation with one of our consultants here ).

7 Aug 2019 review the business case for continuing to use PSC contractors and whether to redesign contractor roles and responsibilities and labour supply  IR35 is a piece of tax legislation that is designed to tax 'disguised employment' across all sectors particularly oil & gas, IT, financial services and construction. 6 Jun 2019 IR35 aims to crack down on those who are 'disguised employees' But his status as a self-employed contractor could be taken away from him next year, due to far- reaching changes to a Manufacturing, utilities, oil & gas, 59. 18 Jun 2019 One of the biggest discussion points for contractors currently is the Louise Wood, our MD has been an active member of Oil & Gas UK's 

Oil and gas sector - IR35. I'm hearing (albeit anecdotally) that several operators are taking the blanket approach. BP, Shell and Taqa being 3. I 

The new regulations have the potential to make a significant impact on companies within industries that rely on contractors such as oil and gas. IR35 was introduced in 2000 in a bid to tackle alleged tax avoidance by individuals using Personal Service Companies (PSCs) to work in a similar way to a typical employee while enjoying the tax benefits available to them via a corporate structure. What might IR35 reform mean for oil and gas contractors? When working inside IR35, contractors are taxed at a similar rate to employees. After similar changes were introduced in the public sector in 2017, many contractors found themselves wrongly placed inside the rules by clients, who seemed to prioritise protecting their liability over making accurate IR35 assessments . IR35 could be 'death knell' for one-man band offshore contractors - News for the Oil and Gas Sector I'd be interested to hear any other experiences from the energy patch. 8th February 2020, 11:18 #2 IR35 – The time is now for employers in the oil and gas sector. With the North Sea in the midst of a resurgence, there’s a slight temptation for some in our sector to forget a few of the smaller things that are going on. But the recent UK budget saw a call-to-action for the oil industry. ‘HMRC has previously focused elements of their IR35 activity on workers in the oil and gas sector and the proposed changes, which will put the onus on the end user of the services to assess the arrangements, will put more pressure on the operators and will likely lead to increased scrutiny going forward.

6 Jun 2019 IR35 aims to crack down on those who are 'disguised employees' But his status as a self-employed contractor could be taken away from him next year, due to far- reaching changes to a Manufacturing, utilities, oil & gas, 59.

4 Nov 2019 Wood, the oil and gas company based in Aberdeen, have today notified all of their PSC contractors of their plans post April 2020. Wood are  Read our IR35 Contractors section providing information, guidance and FAQs to help HMRC estimate that over a third of contractors should be paying tax, but are currently not. Are you looking for a permanent Oil & Gas role in Aberdeen?

‘HMRC has previously focused elements of their IR35 activity on workers in the oil and gas sector and the proposed changes, which will put the onus on the end user of the services to assess the arrangements, will put more pressure on the operators and will likely lead to increased scrutiny going forward.

10 Dec 2019 Oil & Gas / North Sea Since its publication, familiarity and anxiety with IR35, also known as the 'off-payroll (a) Declares a contractor's deemed employment status (for tax purposes) following an IR35 assessment; and. 24 Jan 2020 Oil & Gas / North Sea. IR35 could be 'death knell' for one-man band offshore contractors insolvency partner at Aberdeen firm Meston Reid & Co, said yesterday the revision to IR35 tax rules due to come into effect in April  7 Nov 2019 As discussions about IR35 and the impact on UK-based contractors increase, Wood, the oil and gas company based in Aberdeen, have today  11 Oct 2019 With the draft IR35 legislation for off-payroll working in the private sector being published recently, and not providing much glimmer of good  Umbrella Companies for Oil & Gas Contractors - Those caught by IR35 would be better off operating through an umbrella company than paying the IR35 tax. 22 May 2019 'The use of PSCs in the UK oil and gas industry suited both the individual contractor and the end user business, with the structure providing  Oil & Gas Contractors. As a contractor, there are many factors which can impact take home pay. Read more to find out what to expect when you work in the oil 

22 May 2019 'The use of PSCs in the UK oil and gas industry suited both the individual contractor and the end user business, with the structure providing 

Umbrella Companies for Oil & Gas Contractors - Those caught by IR35 would be better off operating through an umbrella company than paying the IR35 tax. 22 May 2019 'The use of PSCs in the UK oil and gas industry suited both the individual contractor and the end user business, with the structure providing  Oil & Gas Contractors. As a contractor, there are many factors which can impact take home pay. Read more to find out what to expect when you work in the oil 

IR35 could be 'death knell' for one-man band offshore contractors - News for the Oil and Gas Sector I'd be interested to hear any other experiences from the energy patch. 8th February 2020, 11:18 #2