About The RoC
I consider myself to be a reasonable and honest general building contractor and rarely have problems with the people I’m working for, because I’m not out to take advantage of them. RBS confirmed to The Register that contractors will be allowed to continue to operate through their limited companies until 28 February 2020, but must switch their engagement type to either PAYE (pay as you earn) or umbrella (running payroll through an org that employs a number of contractors) to continue their assignment beyond this date.
Moving contractors to an “Assignment Rate” means Employers National Insurance, Apprenticeship Levy (0.5 per cent), Employers Pension Contributions and any agency fees will be deducted from their rate, with no “uplift” offered to offset these added costs.
The Voluntary Classification Settlement Program (VCSP) is an optional program that provides taxpayers with an opportunity to reclassify their workers as employees for future tax periods for …