Brooksons

[monkeygeorge]

Has anyone used the composite Brooksons, and any comments?

Thanks,
George

[Mailman]

Dont waste your time or money and form a real company...unless of course you are a disguised employee?

mailman

[monkeygeorge]

I am a disguised employee and I want to pay less tax (legally, of course).

So what's so bad about composites, or is it just a knee-jerk reaction for people to say 'don't touch with a barge pole'?

[Rebecca Loos]

Composites aren't that bad, it all depends on how much % of your rate you want to take home.

Most contractors on this board are scared tulipless of the IR and will not accept any scheme that offers them more than 70% of their rate. Strange but true.

If you are outside IR35 it's worth using a composite if you don't want to run your own company.

[partimer]

being a bit harsh

>scared tulipless
I think that's being a little harsh for the bods on this board.
It's a case of how much risk/benefit ratio you're willing to take.

With Gordon Clown's bit of legislation allowing the scumb@gs to go back retrospectively to collect taxes, you could be in a right mess. Just look at S660a as an example. Not to mention his attack on off shore savings.

All Clown has to do is come up with a "terrorists using composite companies" and you could have everything taken away from you. (It could happen.)

That's the sort of risk/benefit ratio I'm taking about.
Not everybody can get on a plane with an one way ticket to Rio. I'm sure there are people on this board with homes, families, etc. who simply can't risk that in order to take the p1ss with the IR.

All down to your own personnal circumstances and if you're willing to risk it ...
(I have no interest what anybody does since I don't know you)

[Rebecca Loos]

partimer, you are quite right - but in essence I am right too: for one reason or another you are scared of GB and you are doing as much as you can to comply to the letter with the IR - and not only on current legislation but also on what legislation might be in the future (since they can apply penalties retrospectively, you are right to be scared). This is what I called scared tulipless. OK the word is harsh but true. And yes, you and many others have valid reasons to behave this way, I fully understand that.

[Underscore2]

So why dont

the all go permie. Then there will be less of us and GB wont be as bothered.

[Bagpuss]

Dignatio anyone?


"We understand that around 250 contractor are affected by the collapse of this company, which apparently used an employee benefit trust (EBT) as a mechanism to provide contractors with high post tax income. Details are not yet clear but it seems that the company has been hit with greater than expected tax demands from the Revenue, which suggests that the Revenue has challenged the tax deductabilty of the company’s contributions to the EBT."

[Cowboy Bob]

Composites aren't that bad, it all depends on how much % of your rate you want to take home.

http://www.contractoruk.com/ir35/do_...fect_ir35.html

Bob

[Rebecca Loos]

well I was assuming we are talking outside of IR35 - is life worth living inside IR35?