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.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
The official "Autumn Statement 2015" AKA "End of Contracting" thread
Collapse
X
Collapse
-
-
Originally posted by pjt View PostQuick scan suggests no IR35 details though.
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.Make Mercia Great Again!Comment
-
Originally posted by pjt View PostFrom the detailed document!!
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.Comment
-
"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.Comment
-
Originally posted by TheCyclingProgrammer View PostSo, no travel and subsistence if you're IR35 caught?Make Mercia Great Again!Comment
-
Originally posted by TheCyclingProgrammer View PostSo, no travel and subsistence if you're IR35 caught?Comment
-
T&S confirmed
HMG to cut use of agencies/contractors by 20%
Can't see anything else searching for;
Contractor
Freelance
IntermediaryComment
-
Nothing obvious, but I note two paragraphs in particular on p.123
3.85 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)3.87 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.Comment
-
Originally posted by pjt View PostSo from this can we take it we're only hit with this under IR35? I can live with that.The Chunt of Chunts.Comment
-
Originally posted by pjt View PostSo from this can we take it we're only hit with this under IR35? I can live with that.merely at clientco for the entertainmentComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment