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Families 600 quid worse off due to Brexit

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    #51
    Originally posted by BlasterBates View Post
    Good when the agency offers you a contract inside IR35 they you won't feel hard done by, you realise that you're paying your just deserts
    They are free to 'offer' whatever they want.

    Let me reiterate an earlier point - not all contracts are inside IR35.

    Has it been a while since you last contracted?
    Originally posted by Old Greg
    I admit I'm just a lazy, lying cretinous hypocrite and must be going deaf
    ♕Keep calm & carry on♕

    Comment


      #52
      Originally posted by BlasterBates View Post
      ... after Philip Hammond screws contractors with new IR35 rules, Labour will finish off whatever minor advantage they have with some new eye wateringly high taxes.

      Originally posted by Bean View Post
      Let me reiterate an earlier point - not all contracts are inside IR35.
      Only an idiot like you would assume that everything will continue as it is right now (not that the current system is any good).
      25 years of contracting with squeeze after squeeze tells me there'll be more and it is entirely possible, and even plausible, that IR35 might become moot because the PSC model may become untenable for ALL contractors.
      Hard Brexit now!
      #prayfornodeal

      Comment


        #53
        Originally posted by Bean View Post
        They are free to 'offer' whatever they want.

        Let me reiterate an earlier point - not all contracts are inside IR35.

        Has it been a while since you last contracted?
        No but the whole idea of Hammond's tax rises are to do just that, raise taxes not introduce new toothless rules.

        Currently contractors can jump from the public sector to the private sector. When the new rules are introduced into the private sector, there will be no convenient hiding place and it will inevitably become difficult to simply hop over to the EU. In effect UK contractors will be "imprisoned" by HMRC's new rules.

        Contractors need to plan for lower after tax earnings post Brexit.
        I'm alright Jack

        Comment


          #54
          Originally posted by sasguru View Post
          Only an idiot like you would assume that everything will continue as it is right now (not that the current system is any good).
          25 years of contracting with squeeze after squeeze tells me there'll be more and it is entirely possible, and even plausible, that IR35 might become moot because the PSC model may become untenable for ALL contractors.
          Call me an idiot and then use words like 'may', 'might', 'possible' & 'plausible'

          Yes, and it 'might' not happen in any meaningful way either, you freekin genius
          Originally posted by Old Greg
          I admit I'm just a lazy, lying cretinous hypocrite and must be going deaf
          ♕Keep calm & carry on♕

          Comment


            #55
            Originally posted by BlasterBates View Post
            No but the whole idea of Hammond's tax rises are to do just that, raise taxes not introduce new toothless rules.

            Currently contractors can jump from the public sector to the private sector. When the new rules are introduced into the private sector, there will be no convenient hiding place and it will inevitably become difficult to simply hop over to the EU. In effect UK contractors will be "imprisoned" by HMRC's new rules.

            Contractors need to plan for lower after tax earnings post Brexit.
            You're not aware of some government agencies raising their rates to attract some contractors to offset IR35?
            You're not aware that (according to the press) the deciding factor is left with the client, who could state outside IR35?
            You're not aware that there are factors which dictate whether IR35 applies to a contract?
            You're not aware that many clients operate outside of IR35?
            You're not aware these 'changes' haven't been confirmed and/or implemented yet (so nobody truly knows yet)?

            Hmmmmm....
            Originally posted by Old Greg
            I admit I'm just a lazy, lying cretinous hypocrite and must be going deaf
            ♕Keep calm & carry on♕

            Comment


              #56
              Originally posted by Bean View Post
              You're not aware of some government agencies raising their rates to attract some contractors to offset IR35?
              You're not aware that (according to the press) the deciding factor is left with the client, who could state outside IR35?
              You're not aware that there are factors which dictate whether IR35 applies to a contract?
              You're not aware that many clients operate outside of IR35?
              You're not aware these 'changes' haven't been confirmed and/or implemented yet (so nobody truly knows yet)?

              Hmmmmm....
              Contractors working for public sector see income slashed by up to 30pc in wake of tax crackdown

              You need to budget for a 30% cut in post tax earnings, sure some agencies have compensated with a 5 or 6% rate rise, but that's the best you can expect.
              I'm alright Jack

              Comment


                #57
                Originally posted by BlasterBates View Post
                Contractors working for public sector see income slashed by up to 30pc in wake of tax crackdown

                You need to budget for a 30% cut in post tax earnings, sure some agencies have compensated with a 5 or 6% rate rise, but that's the best you can expect.
                Not what these guys said..... 43% of 45% (you'll have to read the article to understand), saw rises in excess of 15%....
                https://www.contractorcalculator.co....7210_news.aspx
                Originally posted by Old Greg
                I admit I'm just a lazy, lying cretinous hypocrite and must be going deaf
                ♕Keep calm & carry on♕

                Comment


                  #58
                  Originally posted by Bean View Post
                  Not what these guys said..... 43% of 45% (you'll have to read the article to understand), saw rises in excess of 15%....
                  https://www.contractorcalculator.co....7210_news.aspx
                  Yes but a 15% pre tax rise still means a post tax 20% cut and that is the best you can expect, so realistically you can expect on average a 25% cut. If both the private and public sector are treated in the same way there will be less pressure on companies to compensate.
                  I'm alright Jack

                  Comment


                    #59
                    Originally posted by Bean View Post
                    Call me an idiot and then use words like 'may', 'might', 'possible' & 'plausible'

                    Yes, and it 'might' not happen in any meaningful way either, you freekin genius
                    Maybe that's why I'm a millionaire and you're not.
                    I always plan for the worst.
                    Anyone who thinks contracting, even in the private sector, is going to continue as it is has got to be either naive or stupid.

                    HTH, BIDI.
                    Hard Brexit now!
                    #prayfornodeal

                    Comment


                      #60
                      Originally posted by BlasterBates View Post
                      Yes but a 15% pre tax rise still means a post tax 20% cut and that is the best you can expect, so realistically you can expect on average a 25% cut. If both the private and public sector are treated in the same way there will be less pressure on companies to compensate.
                      15% wasn't the ceiling %, the clue was the words 'in excess'.

                      You think a bank will hesitate to offer whatever a skilled up contractor wants if their project is ballsed up and they need them there?
                      Originally posted by Old Greg
                      I admit I'm just a lazy, lying cretinous hypocrite and must be going deaf
                      ♕Keep calm & carry on♕

                      Comment

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