Originally posted by Dark Black
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services company question on tax return
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Has anyone ben advised by PCG or QDOS on how to fill this question in if you are working outside IR35?Last edited by AZZIK; 12 September 2008, 08:23.Comment
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Originally posted by AZZIK View PostHas anyone ben advised by PCG or QDOS on how to fill this question in if you are working outside IR35?
But then someone pointed out this article ( and comment from 28 March ) which suggests to leave the box alone ...
http://www.accountingweb.co.uk/cgi-b...%20%25B%20%25YComment
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Doesnt the question mean that anyone/everyone who has a ltd company has to complete this section?? how is this going to be beneficial to HMRC? Will it really provide them with "potential" victims?Comment
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Originally posted by AZZIK View PostDoesnt the question mean that anyone/everyone who has a ltd company has to complete this section?? how is this going to be beneficial to HMRC? Will it really provide them with "potential" victims?Comment
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Anyone else had any more advice on this yet?
I'm thinking of just telling my accountant to live it blank if I don't hear anything to the contrary soon.Do what thou wiltComment
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The guidance I received from Nixons was that is should be completed, based on this quote from the HMRC guidance it would seem a lot of people will have to complete the box:
"the company’s income was, at any time during the tax year, derived wholly or mainly (that is, more than half of it) from services performed by the shareholders personally"Comment
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Originally posted by Dark Black View PostAnyone else had any more advice on this yet?
I'm thinking of just telling my accountant to live it blank if I don't hear anything to the contrary soon.Comment
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Originally posted by Likely View PostHMRC has told the accounting lobby that the purpose of the question is to identify ir35 targets ( and managed companies ). so .... hold tight.Comment
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From what I gather it seems we do not have to answer this question for the 2007/08 Tax Return.
Q. How would HMRC penalise a taxpayer who completes this question incorrectly in the future?
A. HMRC has confirmed that ‘there will be no adverse consequences’ for taxpayers who have already submitted a 2007/08 tax return in which this box has been incorrectly completed.
4.9.08Comment
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