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

[Project Monkey]

T&S confirmed
HMG to cut use of agencies/contractors by 20%

Can't see anything else searching for;

Contractor
Freelance
Intermediary

Try 'worker'

[TheCyclingProgrammer]

"3.92 Capital Gains Tax entrepreneurs’ relief: contrived structures
– The government will consider bringing forward legislation to amend the changes made by Finance Act 2015 to
entrepreneurs’ relief, in order to support businesses by ensuring that the relief is available on
certain genuine commercial transactions"

Nothing else on it yet.

The way I read it this means they'll stop PSCs from claiming it for sure, probably most small companies that won't fit "genuine commercial transactions" - meaning, if you shut down your business you won't get ER.

I'm sure this relates to what was already announced and nothing to do with normal (genuine) liquidations.

Specifically this:
Autumn Statement 2015 | Entrepreneurs relief on indirect investments

But it does sound like TIS reforms will clamp down on people shutting their company, claiming ER then starting a new one. Which seems reasonable so long as the updated legislation is clearer.

[NickFitz]

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

I thought that, but then realised it's sufficiently vague that they can probably extend it in almost any direction they want

[NickFitz]

After all that! The tories actually listened to us and have worked out a way to hit us so stealthily we'll never see it coming!

FTFY

[Pogle]

Well, I want him to raise taxes in order to provide for a more equitable society, in which the NHS is adequately funded, and assistance is available to the disadvantaged. But I'm given to understand that I'm a bit of an outlier on here

You and me both Sweetie

[pjt]

Don't see anything on the divi tax I take it that ones a given?

[chopper]

By mentioning the Intermediaries Legislation in the T&S bit, maybe it means you'll still be able to claim if you opt out?

[administrator]

Can we change the thread title now?

[jamesbrown]

Snap analysis suggests nothing like the worst case scenario, with T&S relief reduced under IR35 only, and nothing new on IR35. There is a hook for doing something on ER next April, subject to consultation, and revising the associated TIS legislation. Also, I would be wary about the generic statements on p. 123, specifically 3.85 and 3.87, noting the stamp of 25 November 2015 for 3.87. However, they use the word "schemes", which makes me think it's specifically related to schemes.

We'll need to let this sink in, and see the response to the IR35 discussion, but first analysis is good.

[administrator]

Don't see anything on the divi tax I take it that ones a given?

Yup, that's already announced and in the books so need to comment further on it I guess.