The official "Autumn Statement 2015" AKA "End of Contracting" thread

[BolshieBastard]

For now I'm hoping that's the case! Have we dodged a bullet??

Wait for the Red Book to come out in the next day or two. That's where the real detail will be contained.

If there's nothing in there then yes, we've dodged it but best wait first.

[pjt]

Reads like that to me

OK time to get back to invoicing.

[TheCyclingProgrammer]

Sounds like some efforts to make shutting down a company for tax advantages harder by tightening existing rules too.

Company distributions – The government will publish a consultation on the rules concerning company distributions later in the year. The government will also amend the Transactions in Securities rules and introduce a Targeted Anti-Avoidance Rule in order to prevent opportunities for income to be converted to capital in order to gain a tax advantage. (Finance Bill 2016) (18)

Good thing IMO, the TIS rules are a bit ambiguous.

[jamesbrown]

This is an important paragraph, highlighted:

3.20 Employment intermediaries and tax relief for travel and subsistence – As confirmed at Summer Budget 2015, the government will legislate to restrict tax relief for travel and subsistence expenses for workers engaged through an employment intermediary, such as an umbrella company or a personal service company. Following consultation, relief will be restricted for individuals working through personal service companies where the intermediaries legislation applies. This change will take effect from 6 April 2016.

In other words, IR35, not SDC as I read it.

[MarkT]

So from this can we take it we're only hit with this under IR35? I can live with that.

I've searched the document for "PSC" "IR35" etc, nothing...

[psychocandy]

Phew! Contracting survives after all! All hail Gideon!

Have I missed that bit?

[pjt]

This is an important paragraph, highlighted:



In other words, IR35, not SDC as I read it.

After all that! The tories actually listened to us!

[TheCyclingProgrammer]

All I can find is:

Disguised remuneration – The government intends to take action against those who have used or continue to use disguised remuneration schemes and who have not yet paid their fair share of tax. The government will also consider legislating in a future Finance Bill to close down any further new schemes intended to avoid tax on earned income, where necessary, with effect from 25 November 2015.

I have a feeling this relates to dodgy loan schemes rather than IR35.

[NickFitz]

Think so which to me is a my work there was of use.

Now you can get back to posting in TPD

[tomtomagain]

My god. If you though Osborne was boring. Listen the the Labour guy. It's the first time I've heard him speak.

With luck the last.