Son of IR35

[Zoiderman]

Anyone got any links to work out the implications of this? Some reason, for me, the saearch isn't working on the forum today.

Thanks in advance.

[v8gaz]

Ok, give us a clue, what is 'son of IR35' given that the law is not changing?

[russell]

Something like no contract under 2 years long can be deemed as disguised employment would be good I think.

[v8gaz]

Something like no contract under 2 years long can be deemed as disguised employment would be good I think.

Yep, it would be great. But it's not going to happen. Are we playing Fantasy IR35 then, or is there a serious angle to this thread?

[Zoiderman]

As I see it, it's being reformed, IR35, in that they are looking to merge NI and Income tax, in order incorporating isn't as attractive any more.

I'll have a look on the net.

[cojak]

As I see it, it's being reformed, IR35, in that they are looking to merge NI and Income tax, in order incorporating isn't as attractive any more.

I'll have a look on the net.

It will always be attractive to those wanting to work for themselves rather than an umbrella.

I will always be my own boss, therefore I will keep my Ltd.

[simondolan]

As I see it, it's being reformed, IR35, in that they are looking to merge NI and Income tax, in order incorporating isn't as attractive any more.

I'll have a look on the net.

No. They said in the budget last year they were looking at merging NI and Tax, but even admitted at the time just how complicated and how long it would take. Its a big project to say the least! We really need to move away from this notion of incorporating to "save tax". People set up companies for a multitude of different reasons, and tax saving would be right down at the bottom of that list. The lower tax rate is a consequence of, not a reason for.

[Nixon Williams]

As I see it, it's being reformed, IR35, in that they are looking to merge NI and Income tax, in order incorporating isn't as attractive any more.

I'll have a look on the net.

The government has committed to merging the operation of tax and NIC, not merging them into 'one tax'.

Assuming that after the operation has been merged, a future government does look at actually merging them into a single tax, then whether it remains beneficial to trade through a limited company will depend upon how 'investment income' ie dividends and interest is taxed - this is such a long way off, it ius hardly worth debating this just yet.

Alan

[centurian]

Given all the recent fuss about using LtdCo's for tax avoidance, I wouldn't completely rule out a backtracking on the whole "not changing the IR35 law - just changing how it works" stance. It's probably hit a bit late for this year's budget, so lets hope all the fuss dies down.