Crackdown on personal service companies could raise £400m in tax

[BrilloPad]

One IT contractor, who preferred to remain anonymous, told us: "I intend to bend over and take it without lube, whining to my MP who will do nothing"

HTH

[d000hg]

Might be starting to get some wider coverage

IT contractors raise alarm over HMRC mulling 'one-month' nudge onto payrolls

Thanks for the link.

[The Spartan]

Yes, rates staying the same assumed. I know there's the threshold, that's why I took the £60k above £40k

Ooooh do a calculation based on a contractor going back to a permie job so you see what the difference is then.

[seeourbee]

I tried that and my Excel crashed, the house started rumbling and very dark clouds appeared outside my window. Not doing that again.

[The Spartan]

I tried that and my Excel crashed, the house started rumbling and very dark clouds appeared outside my window. Not doing that again.

Ahhh the sound of permiedoom then

[pjt]

One IT contractor, who preferred to remain anonymous, told us: "I intend to bend over and take it without lube, whining to my MP who will do nothing"

HTH

Any better suggestions would be appreciated..

[seeourbee]

In all seriousness though, it's a personal calculation as the benefit or disadvantage changes depending on what salary you take and what you leave in the company. Does that make sense ?

[PurpleGorilla]

this is all just huge amounts of arse.

Corporation tax + VAT is a tidy sum for HMRC...

[seeourbee]

Of course, that's why they want to introduce it. No ones disputing that.

[Pondlife]

In all seriousness though, it's a personal calculation as the benefit or disadvantage changes depending on what salary you take and what you leave in the company. Does that make sense ?

Nope. You won't get to leave any money in the company as the client or agency will be paying you via PAYE for the whole amount of your 'invoice' as I understand it anyway.