Outside IR35 banned
A communication has been released by Yash today advising that the Bank is changing its contractual arrangements with its suppliers to require all personnel who provide services for the ultimate benefit of Deutsche Bank to be engaged under a PAYE contract from 6th April 2021 onwards.
Sub-contracting services via other types of engagement models, including personal service companies (PSCs), will no longer be an acceptable approach for suppliers who deliver services to the Bank. This contractual amendment issued by the Bank affects all consultants – regardless of engagement model.
This new contractual obligation from the Bank means Yash simply cannot engage with consultants who work via a PSC for delivery of their services to the Bank from 6th April onwards.