He meant self-employed, i.e., a payment directly to you. That generally doesn't work for UK clients or agents because they risk being left with a tax bill.
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Need advice on IR35
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Originally posted by humucagir View PostThank you everyone for your replies and sorry for spinning this up again.
Assuming the US litigation risk is minimal.
If I paid out as Outisde IR35 until now, is sole trading the most tax efficient legal thing I can do?
If I just start operating Inside IR35, will my accountant report me to HMRC? Can HMRC notice anything?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by humucagir View PostIf I paid out as Outisde IR35 until now, is sole trading the most tax efficient legal thing I can do?
Originally posted by humucagir View PostIf I just start operating Inside IR35, will my accountant report me to HMRC?
Originally posted by humucagir View PostCan HMRC notice anything?
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Originally posted by humucagir View PostSo if HMRC can notice that I moved Inside IR35 that's pretty much guaranteed investigation right?
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just catching up on this one.
My summary skim read is :
OP has a questionable outside determination.
OP is concerned about the cost impact.
My suggestion. For what it's worth.- Move on to a new client. The further away in time you are, the less risk of investigation. After 6 years have gone there is virtually no risk other than due to fraud (the decision is questionable as opposed to wrong, and made in good faith so fraud not really in the mix).
- Join either IPSE, or Federation of Small Business. Anything which will provide legal cover.
- DO NOT. EVER. TALK TO HMRC. Use a professional to do that. See note abut IPSE/FSB above
- chill out. It's done now. Best plan a calm exit and risk reduction from now on.
See You Next TuesdayComment
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