Treasury written question – answered am ar 17 Rhagfyr 2018.
Alison McGovern
Chair, Speaker's Advisory Committee on Works of Art, Chair, Speaker's Advisory Committee on Works of Art
To ask the Chancellor of the exchequer, what projections his Department has produced of the tax receipts arising from the changes to IR35 rules as announced in Budget 2018.
Mel Stride
Financial Secretary to the Treasury and Paymaster General
The off-payroll working reform in the private sector, announced at Budget 2018, is projected to increase tax receipts by nearly £3 billion over the period 2018-19 to 2023-24. This estimate has been independently assured by the Office for Budget Responsibility.
The off-payroll working rules (commonly known as IR35) are in place to ensure that individuals who work through their own limited company (e.g. personal service company) and would have been an employee had they provided their services directly, pay broadly the same tax and National Insurance as other employees.
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No5 people think not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
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