HMR&C consultation into PSC's

[JamJarST]

Cheeky barstewards! They dont mention nor include the VAT a PSC with a T\O of 120k would generate compared to a salaried person on the 'same' wage!

And how can you compare a PSC to someone earning the same wage!?

There's no way I as an employee for anyone would earn 120k in my part of the country (and Im talking from west Midlands up to Newcastle Upon Tyne)!

My 'salary' would be 40k tops so they are getting shedloads more tax out of me than if I were an employee.

Bunch of bellwhiffs!

I was thinking about the VAT implications the other day and this only counts as a tax revenue for HMRC if your end client does not charge VAT on their goods ands services. If they do charge VAT then they claim back the input VAT you charge . In the case of the public sector, they don't generally charge VAT so Hector pockets the revenue from you VAT but the government department loses out cos they cant claim input and it all sort of evens out.

Basically what I am saying is that the fact we pay VAT does not actually generate revenue for the government, the only real revenue they get is CT.

[SueEllen]

There is no definition of the word 'significant' .....again.

Well if they defined it lawyers would be out of a job.

[Greg@CapitalCity]

HMR&C seem to be moving with uncommon haste

Fair enough too. The likes of Ed Lester working through a PSC is insane.