My agency is trying to force me into signing a new contract due to the new IR35 legislation. I am outside IR35and there are lots of new clauses one of which is that the representative (me) needs to have a majority shareholding in the Ltd Company. Does anyone have any idea why this might be there? Is this an IR35 thing or just some new clause they have decided to put into the contract? This is an issue for me as my wife and I have 50/50 shares. This was all set up by my accountant and there was no mention of a 50/50 split ever being an issue.
-
-
Ask them to change it. If they refuse, ask your wife if she'd be willing to transfer 1% back to you and if she agrees, problem solved. File the necessary paperwork, update the company records and report it on your next confirmation statement. -
We;ve got threads on this going as far back as 2013.
https://www.google.com/search?q=majo...hrome&ie=UTF-8
Do as CP says and off you go.'CUK forum personality of 2011 - Winner - Yes really!!!!
Comment
-
51/49 is the safest way to go.
Do you pay your wife a salary?
Part of the reason is so that you can demonstrate that you've got sufficient power within YourCo to be a sole signatory on a contract. They've no doubt been stiffed over by some dodgy contractor in the past who wanted to get out of a contract and went down the "well actually, I've not got a controlling interest in the business so you cannot hold me to it anyway" route. Easier to change their Ts & Cs and not pay them their remaining invoices than fight it.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
Comment