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New proposal from IPSE - Smoke and mirrors?
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If I'm forced to close down my Ltd of 20 years and chuck my non-fee earning Company Secretary on the dole to start up a FLC, I might as well just jack it in as well.
Maybe that's what they want, of course?Comment
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Originally posted by Batcher View PostIf I'm forced to close down my Ltd of 20 years and chuck my non-fee earning Company Secretary on the dole to start up a FLC, I might as well just jack it in as well.
Maybe that's what they want, of course?Comment
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Originally posted by Batcher View PostIf I'm forced to close down my Ltd of 20 years and chuck my non-fee earning Company Secretary on the dole to start up a FLC, I might as well just jack it in as well.
Maybe that's what they want, of course?Comment
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Originally posted by TheFaQQer View PostYou won't be made to - it'll be optional
This is a seriously carp idea. It will not be optional - or to be more correct, it will be as optional as it currently is to be a contractor as someone that is registered self-employed. For which - read it won't be optional. Agencies will very quickly only acceptPSCFLC entities.Comment
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Originally posted by tractor View PostBut of course it is.
+1
Exactly.
I really would like to know why IPSE is so far behind the curve on this.Blog? What blog...?Comment
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Originally posted by malvolio View PostAnd you wonder why I've given up trying to say anything...
It's clear the this "optional" FLC will be IR35 by the back door, the "fair" split of salary and dividends will be set by HMRC, that income splitting will be gone so spouses that have a genuine role will be out in the cold and that HMG get all the goodies they can dream of.
It will be as optional as putting fuel in your car, you only have to if you actually want to use the damn thing.Comment
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Originally posted by LisaContractorUmbrella View PostCan't say I do - from what I can make out you'd still have the hassle of running your own company (with some additional paperwork) but you'd take home less money - no effect on what we do
Considering it's all speculation about something in the preliminary stages of being proposed, that seems to be jumping the gun. Most people seem to be opposed to it just for change's sake. The government could equally tighten up IR35 and decide everyone is inside with the current set up.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by d000hg View PostIn the long-winded General thread, everyone is only assuming that's the case. That such a new entity will be set up as a voluntary option. Then everyone will be forced to use it. Then it will be taxed far more heavily, effectively making everyone inside IR35.
Considering it's all speculation about something in the preliminary stages of being proposed, that seems to be jumping the gun. Most people seem to be opposed to it just for change's sake. The government could equally tighten up IR35 and decide everyone is inside with the current set up.
I don't.
However, the IPSE powers that be position is that their predictions are going to be accurate (it won't be mandatory, it won't increase your tax burden, it will be simple to operate, there will be no IR35 worries, there will be no expensive accounts to do etc.) whereas anyone who believes anything differently is wildly speculating about things that will never some to pass.
The only people that have put forward a detailed proposal are LFIG and Andrew Vessey from Qdos. IPSE have nothing in the public domain, so one can only speculate based on the details that are available. If the IPSE staff and board (or whoever is running the policies) cared to put something out there, then it might be different - but silence in this case really isn't golden.Comment
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Originally posted by TheFaQQer View PostDo you believe that the government of the day (whichever that may be) will introduce a new corporate vehicle for 4.5million workers which lowers the tax take?
I don't.
Many people would gladly pay a little more tax to escape the uncertainty of IR35 - and the need to pay for expensive IR35 reviews and insurance. I bet a lot of people would even be 'happy' as long as the amount of tax they paid didn't exceed what they would pay in PAYE as a permie earning the same amount, even!
I choose to be about as tax efficient as is possible through my Ltd once I had one, because why wouldn't you, but I didn't set up a Ltd for that purpose. If something simpler and more tailored had existed, with a clearly defined tax/NI setup that wasn't drastically expensive, I'd have done that instead.
Opposing something not because of what it will achieve but how it could be tinkered with in the future, seems pointless to me.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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