Read an article in one of my journals if Liz Truss gets as PM she’ll review IR35 as part of aiding small business...
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Liz Truss &IR35
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“Liz Truss says something to attempt to get votes”
I’ve seen kites hold a straighter course than her. Many of her backers are hoping she will get into power and be just as malleable.…Maybe we ain’t that young anymore -
There are £70bn reasons why ir35 won’t change no matter what politicians promisemerely at clientco for the entertainmentComment
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Liz Truss says a lot of things, although she does seem rot be instinctively low tax so there might be something in it.Comment
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Originally posted by SussexSeagull View PostLiz Truss says a lot of things, although she does seem rot be instinctively low tax so there might be something in it.
The £70bn that Eek is on about doesn't actually exist. It's the difference between the tax owed by genuine independents and the tax owed by those businesses being taxed as employees. Nevertheless, it is ingrained in HMT's figures, and HMG are too undereducated to challenge it.
Don't ever assume a politician is intelligent and well-informed and capable of making rational decisions. They aren't.Blog? What blog...?Comment
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Well, predictions for the Treasury team are Kwarteng, JRM and John Redwood. If reform doesn’t happen under them, it will probably never happen. Hint: it will probably never happen. I hope to be shockedComment
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Originally posted by malvolio View Post
As long as HMT is listening to HMRC's totally wrong impact assessments, and HMT itself sticks to the "you're an employer or an employee" mantra, nothing tis going to change.
The £70bn that Eek is on about doesn't actually exist. It's the difference between the tax owed by genuine independents and the tax owed by those businesses being taxed as employees. Nevertheless, it is ingrained in HMT's figures, and HMG are too undereducated to challenge it.
Don't ever assume a politician is intelligent and well-informed and capable of making rational decisions. They aren't.
Make employing people outside of PAYE possible and that figure drops - HMRC can’t risk that and other departments are petrified that changing employment law (to merge employment tax law with employment law) will create a whole set of different issues and seriously eat in to the £70bnmerely at clientco for the entertainmentComment
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Originally posted by eek View Post
Nope it’s employer NI
Make employing people outside of PAYE possible and that figure drops - HMRC can’t risk that and other departments are petrified that changing employment law (to merge employment tax law with employment law) will create a whole set of different issues and seriously eat in to the £70bn
Come to that I paid ErNICs, EeNICs and PAYE throughout my freelance career - no more than I had to, but still generated more tax than my permie co-workers every year (and not counting VAT, which is a little more debateable).
I know IR35 isn't going away, and I fully understand its history and the reasons why (better than most, I suspect, after 20-odd years of campaigning), but that doesn't make it right or defensible. It is a bad law, sloppily framed and created for the wrong reasons by HMT selling an idea to an incompetent Chancellor, having failed to get it past various previous incumbents.
If Truss turns out to be Maggie Mk 2 and drives through a sudden lurch back to core small-c conservative economic policy then there may be a chance. But I'm not betting anything on that happening.Last edited by malvolio; 29 August 2022, 13:01.Blog? What blog...?Comment
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Zero chance if Sunak gets in, think there is a slim chance with the people being mooted for Treasury jobs...now or never!Comment
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It won't be overturned or changed. It's actually been quite a success and has done what it needed to, so it'd be stupid to change things.
I hope it doesn't as well because it's really thinned the herd of permietractors.Comment
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