Contract with limited project work

[SueEllen]

There's a very obvious and completely safe alternative: just be inside IR35. It's a lot better than being on JSA.

Also you can change the status of your work from outside to inside IR35 and vice versa.

Just get a new schedule from the client so you can show that all the old work was completely outside.

[WordIsBond]

And then, if the new project is outside, have a new contract showing that.

And unless the Chancer of the Exchequer messes it up, make a nice pension contribution out of the IR35 income, and pay your dividends out of the non-IR35 income.

[billybiro]

You don't manage risk as part of your job do you. What is stupid is to not understand the amount of risk, the fall out if it hits and just assume risk is a bit of pain in the ass so ignore it and keep billing. It's also not a perfectly good contract is it? It's an IR35 nightmare that has the potential to lose you a hell of a lot of money if you get caught.

But unless getting caught loses you more money than what you've earned over the time period that you're being caught for, then you're still quids in, no?
(i.e. You're charged back-dated tax at more than 100% of your income)

[northernladuk]

But unless getting caught loses you more money than what you've earned over the time period that you're being caught for, then you're still quids in, no?
(i.e. You're charged back-dated tax at more than 100% of your income)

Not really.. Over time you will have spent that liability so even if it's only a small percentage you don't have the money anymore and it becomes extremely inconvenient/life changing.

You could argue JLJ was in that position but he has a £140K tax bill now. I bet he doesn't think he's quids in.. Nor any of the EBT guys? Or have I got your example wrong?

[Dark Black]

Thanks for the input everyone - apparently there's a meeting with the client next week wrt any upcoming work so I suspect that will be crunch time.

I'd imagine it will depend on if there's any serious project work to be done that's worthy of putting on a schedule..