So, a friend of mine has been looking into a 12 month contract for an Investment Bank in London, via a well-known London agency. I just can't believe the follow up email in the agents attempts to reassure him about 'ISLE 35' !!
Wrong on so many levels. If they don't even know what the legislation is called, how can they provide an accurate determination? But according to them, it's not their responsibility, it is with the bank!!!
Hi ***,
Thanks for the call just now it was a pleasure to talk to you.
As discussed I have a contract at *** that I would like you to consider.
All our contracts are Isle 35 friendly, The clauses are written in a way that falls outside of Isle 35.
From April 2020, it will no longer be a contractor’s responsibility to determine their own isle 35 status. The end client (The Banks) will be responsible for determining the contractor’s employment status and fee (recruitment agency’s), will be responsible for deducting the correct tax and national insurance.
Internal resources are being brought in to understand the legislation, perform assessments for contractors (Isle 35 project teams).
In April what you are likely to see is a raise in day rates – clients pay more to contracts to advocate for the increase in National Income Tax. [agency] will have to review CV’s and amend them accordingly.
Please feel free to read through the spec and contact me if you have any questions.
Kindest regards,
Thanks for the call just now it was a pleasure to talk to you.
As discussed I have a contract at *** that I would like you to consider.
All our contracts are Isle 35 friendly, The clauses are written in a way that falls outside of Isle 35.
From April 2020, it will no longer be a contractor’s responsibility to determine their own isle 35 status. The end client (The Banks) will be responsible for determining the contractor’s employment status and fee (recruitment agency’s), will be responsible for deducting the correct tax and national insurance.
Internal resources are being brought in to understand the legislation, perform assessments for contractors (Isle 35 project teams).
In April what you are likely to see is a raise in day rates – clients pay more to contracts to advocate for the increase in National Income Tax. [agency] will have to review CV’s and amend them accordingly.
Please feel free to read through the spec and contact me if you have any questions.
Kindest regards,
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