Originally posted by xoggoth
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11 Month Contract or IR35
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Blog? What blog...? -
What is better:
1. To pay 40% on a lot or
2. Pay 0% on nothing
Net result is that 1 will always mean more money in your pocket, even if it is not as much as you would initially want.
Mal is right, why turn down guaranteed income unless you are certain you can have a non IR35 gig during that timeComment
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Originally posted by Turion View PostLong contract duration does increase risk of IR35 investigation. One only needs to study the cases where these investigations are started. Dragonfly Consulting Ltd spent years at the AA and got taken for 99k. There are many other similar examples. The longer the contract the fatter the target and therefore the more precautions you will need.
FWIW I was investigated and at the time was near the end of a 5 year contract. The length of the contract was not mentioned.Comment
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Originally posted by Archangel View PostHow the hell would the revenue know whether MyCo has had 24 x 3 month contracts with 24 companies, or one 6 year gig at the same client? All they see is the Profit and Loss statement and the PAYE payments, they have no idea where MyCo's income is derived from.
FWIW I was investigated and at the time was near the end of a 5 year contract. The length of the contract was not mentioned.
I'd be very surprised though if the cases that get investigated and then pursued are not slanted towards long contracts.
Are the IR staff involved not now on some form of incentive for how much extra tax they bring in ? Mal, do you know the answer to this ?Comment
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Originally posted by rootsnall View PostThey don't. Same with all the other 'pointers' and the like discussed on here.
I'd be very surprised though if the cases that get investigated and then pursued are not slanted towards long contracts.
Are the IR staff involved not now on some form of incentive for how much extra tax they bring in ? Mal, do you know the answer to this ?Blog? What blog...?Comment
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