BN66 - Time to fight back (Chapter 3)

[BrilloPad]

To be fair IT contractors did have a history of totally taking the Michael in respect of avoiding (it was borderline or clear evasion in many cases) NI and Income Tax prior to IR35. The number of one man Ltd companies
Plenty of people were barely disguised or even blatantly openly employees and claiming massive expenses against their tax and NI liabilities. Many contractors left a permie desk on Friday and sat down at the same desk on the next Monday, it used to be incredibly common. Plus for the more adventurous there were some rediculous offshore schemes with oddball loans repaid in comical freefall currencies.
Because there were so many IT contractors compared to other types of self employed professionals (building trades have had their own regulations for years) collectively we errected a colossal neon pink and green target for HMG and the then Inland Revenue to shoot at.

That's why they hate us!!!!!

I disagree. I think they see us as glorified typists. Which is why they are happy to see us offshored. In the world trade talks we are the sacrifice.

They have no comprehension of what we do. At the moment in banks the IT and middle-office and research are being offshored. Next will be traders. Then will be the management. No more City. UK will be totally f**ked if they carry on with their current policy.

[NickNick]

Nah, "The city" accounts for less than manufacturing in the UK doesn't it?

[smalldog]

To be fair IT contractors did have a history of totally taking the Michael in respect of avoiding (it was borderline or clear evasion in many cases) NI and Income Tax prior to IR35. The number of one man Ltd companies
Plenty of people were barely disguised or even blatantly openly employees and claiming massive expenses against their tax and NI liabilities. Many contractors left a permie desk on Friday and sat down at the same desk on the next Monday, it used to be incredibly common. Plus for the more adventurous there were some rediculous offshore schemes with oddball loans repaid in comical freefall currencies.
Because there were so many IT contractors compared to other types of self employed professionals (building trades have had their own regulations for years) collectively we errected a colossal neon pink and green target for HMG and the then Inland Revenue to shoot at.

That's why they hate us!!!!!

I couldnt disagree more! What company be they a small sole trader or large corporate does not utilise advantages to maximise its profits? IT contractors are businesses, every business in its right mind looks to minimise its tax position, from BP and Shell to Daves corner shop. We were and are no different.

[BlasterBates]

I couldnt disagree more! What company be they a small sole trader or large corporate does not utilise advantages to maximise its profits? IT contractors are businesses, every business in its right mind looks to minimise its tax position, from BP and Shell to Daves corner shop. We were and are no different.

But BP or Shell doesn't earn most of its profits in the Isle of Man, and if they did they'd be in deep sh*t.

That's one of the questions I ask myself when I see a scheme. If it is so good why don't big companies do this?

[SantaClaus]

But BP or Shell doesn't earn most of its profits in the Isle of Man, and if they did they'd be in deep sh*t.

That's one of the questions I ask myself when I see a scheme. If it is so good why don't big companies do this?

But Google channels them through Ireland.

[BlasterBates]

But Google channels them through Ireland.

that's true...but they do have an office and an employee or two there as well.

which for me would be a hint as to how to make it work.

[smalldog]

But BP or Shell doesn't earn most of its profits in the Isle of Man, and if they did they'd be in deep sh*t.

That's one of the questions I ask myself when I see a scheme. If it is so good why don't big companies do this?

Blaster, Im amazed at your indepth knowledge of bluechip capital movements! hehe...you miss my point, it is the right of every company (be them a sole trader or bluechip) to optimize their tax position. If to achieve the minimised tax position requires exploitation of a LEGAL loophole then it is not the individuals responsibility NOT to use it purely on moral grounds if its available.

you asked a question in an earlier post: "why should you not pay UK tax?", because the taxation system had provided us with a legal opportunity not too. S.58 supports the fact it was legal, if it wasnt we would be prosecuted. S.58 also shows it was a legitimate loophole otherwise why would any new form of legisatlion be required, if its wasnt a legitimate loophole HMRC would just have had to reinforce the pre-existing legislation.

From a moral standpoint I dont really care what people do or dont think of my attitude towards the avoidance of reducing my PAYE. In fact my attitude towards tax has hardened dramatically of late, just watching programmes like "The Hospital" last night made me want to kick the TV in when I realised its tax payers money being used to operate on these F**king lazy good for nothings who cant stop shovelling SH** into their mouths. And to top it all, two obese people who cant work as they are two fat to get a job (apparently) are claiming legitimate disability benefit. So if I get our society right, you can do nothing, eat yourself to near death, get social security and disability payments, and then get free £10k treatment to fix you by way of a gastric band operation!!! give me strength!!!!

and we get accussed of cheating the system...not being funny, if you are going to target groups of people I think there are some slightly more obscene cheaters in our society than IT contractors!

[KiwiGuy]

that's true...but they do have an office and an employee or two there as well.

which for me would be a hint as to how to make it work.

when i ran a ltd company i had a office and was hiring people, building a business, Mr Brown and IR35 still came after me, wasted my time....the are a waste of space and the current govt doesnt give a flying .... about anyone but themselves and keeping them in there 2nd homes

[Emigre]

Blaster, Im amazed at your indepth knowledge of bluechip capital movements! hehe...you miss my point, it is the right of every company (be them a sole trader or bluechip) to optimize their tax position. If to achieve the minimised tax position requires exploitation of a LEGAL loophole then it is not the individuals responsibility NOT to use it purely on moral grounds if its available.

you asked a question in an earlier post: "why should you not pay UK tax?", because the taxation system had provided us with a legal opportunity not too. S.58 supports the fact it was legal, if it wasnt we would be prosecuted. S.58 also shows it was a legitimate loophole otherwise why would any new form of legisatlion be required, if its wasnt a legitimate loophole HMRC would just have had to reinforce the pre-existing legislation.

From a moral standpoint I dont really care what people do or dont think of my attitude towards the avoidance of reducing my PAYE. In fact my attitude towards tax has hardened dramatically of late, just watching programmes like "The Hospital" last night made me want to kick the TV in when I realised its tax payers money being used to operate on these F**king lazy good for nothings who cant stop shovelling SH** into their mouths. And to top it all, two obese people who cant work as they are two fat to get a job (apparently) are claiming legitimate disability benefit. So if I get our society right, you can do nothing, eat yourself to near death, get social security and disability payments, and then get free £10k treatment to fix you by way of a gastric band operation!!! give me strength!!!!

and we get accussed of cheating the system...not being funny, if you are going to target groups of people I think there are some slightly more obscene cheaters in our society than IT contractors!

Top Dog



BB is worse than Mal

[BrilloPad]

Top Dog



BB is worse than Mal

I agree with that. IMO Mal actually provided some use as he made us think (though he lied a bit as well).

BB should go back to posting DOOM threads.