IR35 repealed

[TheGreenBastard]

I agree. Gone from client taking the risk to it coming back to me. no sure that is what I want.

I would much prefer to have the rules written down in a more black and white manner, but that will never happen.

If you're a business, tax liability risk should be on you. "No risk coming back to me" - permietractor, all day, all night.

But I agree with the sentiment of the post you quoted, expect a stampede of permietractors.

[mogga71]

I presume it's likely to be repealed from next April - 2 years after some people will have MVLed, so not too bad for some.

Indeed ... perfect timing for moi.

However, the big question is ... will the likes of the Banks reverse course in April?

Also, let's not fool ourselves. For the government to be making these measures today (not just the IR35 news) strikes me as a total act of desperation. The debt timebomb gets closer to detonation?

[Jolie]

After 12 years of nonsense, we might actually finally have a tory government?

With two years until a general election Truss has to throw everything she can at the economy. If she is successful, she wins another 5 years. If it goes t*ts up and she loses the next election then that's OK too, because then at the next but one election we can blame labour again.

I think it's close to being a win/win situation for Truss. Meantime the country is pretty much sinking under the debt pile.

You're joking right?

If they were "genuine" Tories, they would have completely abolished IR35 back in 2010.

Although it all sounds really promising, I won't trust them again. The damage has already been done, with most of my clients scared to touch us, they pulled out of the contractor market. Most are US clients and don't want anything to do with the UK system. Some even pulled out of the country completely.

I will continue with my LtdCo closure and I am already out of the country, and don't intend to return to the sleepless nights wondering when the brown envelope will hit the doormat.

No thanks.

[ensignia]

You know, it feels really good not paying a penny of NI. You'll remember.

Yeah, why should anyone have to contribute to the society they live in? Bloody nanny state.

[mogga71]

After 12 years of nonsense, we might actually finally have a tory government?

With two years until a general election Truss has to throw everything she can at the economy. If she is successful, she wins another 5 years. If it goes t*ts up and she loses the next election then that's OK too, because then at the next but one election we can blame labour again.

I think it's close to being a win/win situation for Truss. Meantime the country is pretty much sinking under the debt pile.

Wow that's certainly not my take on matters. They have gone 'all in' on favouring the wealthy as they know that these are the only people capable of extending the debt bubble. It's the same tactics used in the 2009 crisis in that free money was given to the elites in the hope that it would kick start spending and flow downwards. It didn't work then as they just kept the money themselves. This will be no different and the debt bubble has now increased dramatically. This is a total act of desperation.

I can just about tolerate the majority of the stuff today but to allow the Bankers to pay anything they want again without any real caps is just taking the absolute pee. These are the guys who were primarily to blame for the 2008 crisis, who then were given the QE money to supposedly invest it (but hoarded it instead) and now we are giving them the ability to pay that money to themselves without caps and with reduced taxation. It's criminal.

[Paralytic]

Did he get rid of double taxation on dividends too?

According to the email i just got from my accountant (mainly informing about the IR35 changes)

"The increases to dividend tax rates of 1.25% that were quietly brought in alongside the National Insurance increases are also being reversed in April 2023."

and confirmed here

https://www.gov.uk/government/news/n...rease-reversed

(although that was published yesterday )

[ctcheck]

Does anybody know details of two year rule? From when 2 years counted after closing company using MVL route? First disbursement or last disbursement?

[eek]

Does anybody know details of two year rule? From when 2 years counted after closing company using MVL route? First disbursement or last disbursement?

Each disbursement is treated individually - but the reality is that it’s 2 years from the last disbursement if you want of be 100% safe

[ensignia]

Does anybody know details of two year rule? From when 2 years counted after closing company using MVL route? First disbursement or last disbursement?

Crawling back already

Shameless, really.

[northernladuk]

Does anybody know details of two year rule? From when 2 years counted after closing company using MVL route? First disbursement or last disbursement?

This guy found the answer and he didn't like what he found.

https://forums.contractoruk.com/acco...-up-issue.html