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

[NickFitz]

Can we change the thread title now?

Well, you can - or are you giving us all admin privileges for the day?

[vetran]

This is new as well:

Most businesses, self-employed people and landlords will be required to keep track of their tax affairs digitally and update HMRC at least quarterly via their digital tax account, reducing errors through record keeping.

say hello to paying tax quarterly....

https://www.gov.uk/government/public...statement-2015

[AtW]

"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) "

This will stop ER for distributions from shutdown companies and possibly some other ways of paying CGT rates rather than dividend rate which is going to be higher now.

[Platypus]

So all that huff and puff and doom and gloom in the other thread was a complete waste of time and angst.



ha ha gotta see the funny side.

[AtW]

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.

I stopped listening once he started, total bore but at least I don't have to listen to him...

[RKS]

Spending review - Laymans terms

Hi all,

I think I have an understanding of the impact of the spending review but would somebody be so kind to summarise this in laymas terms. I am farely new to contracting and everything is still new to me, therefore this is still new to me.

Thank you all

[eek]

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

Yep that's the final don't use a dodgy scheme as we will retrospectively close it announcement.

[administrator]

Well, you can - or are you giving us all admin privileges for the day?

I was looking for community approval I honestly can't believe the sleepless nights as to what could change and all we get is that one clause? Not that I am complaining or anything, that is a hell of a lot less that I thought was coming our way. Right. Back to work. Maybe a swift gin and then back to work. Might get a decent nights kip tonight.

[MrMarkyMark]

"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) "

This will stop ER for distributions from shutdown companies and possibly some other ways of paying CGT rates rather than dividend rate which is going to be higher now.

So anyone that wants ER should close down before April 2016?

[MarkT]

I stopped listening once he started, total bore but at least I don't have to listen to him...

He's a moron, he started going on about how badly the Child Tax credit cuts would hurt But then seemed to realise that he should have edited that bit out, as they haven't been....

and I voted Labour.....