The end of PSC's

[woohoo]

I give PSC's about 5 years before they are extinct , several reasons but the following list will be the main ones:

1) The government on all sides of the political spectrum want them gone.
2) No other European country permits them and many other countries outside Europe don't either.
3) Taxes will fall dramatically over the next 5 years as the UK economy adjusts after Brexit, every little bit of revenue will be extracted from wherever UK Gov can find it.
4) HMRC will continue to focus on high profile 'Tax Dodgers' which will get more press coverage.
5) More scary statements by HMRC will claim to make companies responsible for tax not collected if the contractor is found to be inside IR35 while claiming outside.

The only thing you can do is sell up and go to Germany who will welcome you with open arms.

Piss off back to the Brexit forum and take your trolling with you.

Mods we need to get a handle on trolls like this miserable ****wit.

[motoukenin]

Piss off back to the Brexit forum and take your trolling with you.

Mods we need to get a handle on trolls like this miserable ****wit.

Not a trolling post at all Mr Woo, its a serious and practical discussion for all contractors to decide if you are setting yourself up as a one person company to avoid tax and maybe think about the tax consequences.

ok the Germany bit was a bit of a wind up because as you know Holland gives you a 30% tax allowance and is therefore more attractive.

[NotAllThere]

I have a Swiss GmbH. My wife and I are the only shareholders, we are the directors and I'm the employee. If that meets your definition of PSC, then clearly you're wrong that...

...No other European country permits them and many other countries outside Europe don't either.

Yes but billing clients directly in the UK would be the exception not the norm.

And here, ladies and gentleman, we have a fine example of a non sequitur.

[malvolio]

Not a trolling post at all Mr Woo, its a serious and practical discussion for all contractors to decide if you are setting yourself up as a one person company to avoid tax and maybe think about the tax consequences.

ok the Germany bit was a bit of a wind up because as you know Holland gives you a 30% tax allowance and is therefore more attractive.

Just a thought but before setting yourself up as a fool, perhaps do some research. People who use a PSC come into broadly three groups:

1. Those who use their PSC as a legitimate corporate vehicle to process teir income efficiently, smooth out a variable income and have the benefits of limited liabilities so they don't lose their house when it all goes wrong

2. Those who see contracting as a big money exercise, and are only interested in screwing as much as they can out of the system, either through conventional PAYE and interesting application of the expenses regime, or who have been sold some smoke and mirrors scheme.

3. Those who have a real job and who use a PSC to process the payments they get on the back of that job, such assorted sports stars, minor slebs and quite a few politicians, among others

The first group are not avoiding tax in any shape or form

The second group are avoiding tax but typically aren't well enough informed or aren't smart enough to do it well or legally

The third group are the genuine tax avoiders: TheirCo has no other purpose.

Most of us are in the first group, with some more in the second who are the ones populating the EBT and similar threads since they are painfully aware they made a mistake and are looking to fight their way out of a very difficult position

So that doesn't make a case for killing PSCs at all. What it does do is highlight who should be in the courts defending their position. And it's not us.

HTH. BIDI

[motoukenin]

I would say a fool is someone who dosent know when the game is up and a bigger fool is someone that gets his wife involved.
Still this is not aimed at Brexiters its more for people who know when they dont have the upper hand and want to get out before the shtf

[malvolio]

I would say a fool is someone who dosent know when the game is up and a bigger fool is someone that gets his wife involved.
Still this is not aimed at Brexiters its more for people who know when they dont have the upper hand and want to get out before the shtf

Nope. Read that twice. Still don't understand it. Heigh ho.

[jamesbrown]

Nope. Read that twice. Still don't understand it. Heigh ho.

I think you'd need a degree in linguistics and a talent for extrapolation to translate anything from motoukenin into intelligible prose.

[motoukenin]

I think you'd need a degree in linguistics and a talent for extrapolation to translate anything from motoukenin into intelligible prose.

At least you guys have a sense of humour not sure HMRC will find you quite as funny. Surprised to see you both out here in turbulent reality of Brexit space don't spend too long out here those nasty remoaners will start bullying you.

Anyways just waiting for my plane to go back to Hamburg after having interviewed 2 guys in London Fin tech industry who want to join us in our Holland office. As usual both very skilled and at 650 Euro per day very reasonable offered them both a second technical interview, I feel like the patron saint of Kubernetes.

[jamesbrown]

At least you guys have a sense of humour not sure HMRC will find you quite as funny. Surprised to see you both out here in turbulent reality of Brexit space don't spend too long out here those nasty remoaners will start bullying you.

Anyways just waiting for my plane to go back to Hamburg after having interviewed 2 guys in London Fin tech industry who want to join us in our Holland office. As usual both very skilled and at 650 Euro per day very reasonable offered them both a second technical interview, I feel like the patron saint of Kubernetes.

I'm sure there was something really fascinating inside that word collage.

[BR14]

I'm sure there was something really fascinating inside that word collage.

I think it was something about his cat having bigger bollocks than anyone else's