Originally posted by pr1
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If you're genuinely in business you should be free to act like a business which just happens to have one employee. Which means the employee pays the full amount of tax on what they actually earn, and the business is free to keep profits in the company to smooth out any future peaks and troughs. The worse thing about IR35 is that it taxes you on the company's income for that year whether you've personally earned it or not. They should sort that out, get rid of the reporting requirements of one man companies (and so saving us all money spent on accountants), and apply the expenses rules in a way that treats permies and contractors equally, and I'd think that would be fair to all.
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