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November Budget - Stop Public sector IR35 rules coming into the Private sector

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  • SueEllen
    replied
    Originally posted by tarbera View Post
    Lots of people on these boards work for a bank via a PSC have had their contracts reviewed and are outside IR35

    Roll forward to April next year, when banks all take the least risky option and convert all roles into IR35 caught

    Thus your £10K a month contract suddenly becomes £4.5K net earnings

    From that £4.5K you need to pay your expenses (fly up and down from Scotland and stay in London hotels £2.5K from net earnings)

    Your accounts - Net earning, that new laptop - ohh from your net earnings again, £150 for a xmas party - not any more. Have a company car lease, out your net earnings again

    So after expenses say you are left with £1500 to pay your mortgage, wife and family, holidays etc

    So from your £10K a month contract you earn about £10 an hour in your pocket

    Don't presume everyone lives in Scotland.

    What will happen if IR35 rules are enforced in the bad way they are enforced in the public sector is some companies especially those that aren't near a city or large town will find they cannot get contractors even if they up their rates.

    The only contractors companies in cities and large towns will get will be ones who live in commutable distance. In the case of the banks in London this means they will still get those who live in London and the SE.

    Leave a comment:


  • tarbera
    replied
    Originally posted by Lance View Post
    IR35 already applies to the private sector. And always has.

    Do you understand what it is you are speculating will happen?
    Lots of people on these boards work for a bank via a PSC have had their contracts reviewed and are outside IR35

    Roll forward to April next year, when banks all take the least risky option and convert all roles into IR35 caught

    Thus your £10K a month contract suddenly becomes £4.5K net earnings

    From that £4.5K you need to pay your expenses (fly up and down from Scotland and stay in London hotels £2.5K from net earnings)

    Your accounts - Net earning, that new laptop - ohh from your net earnings again, £150 for a xmas party - not any more. Have a company car lease, out your net earnings again

    So after expenses say you are left with £1500 to pay your mortgage, wife and family, holidays etc

    So from your £10K a month contract you earn about £10 an hour in your pocket

    Leave a comment:


  • Lance
    replied
    Originally posted by tarbera View Post
    so you are in the clear if IR35 rules are introduced into the private sector then?
    IR35 already applies to the private sector. And always has.

    Do you understand what it is you are speculating will happen?

    Leave a comment:


  • BrilloPad
    replied
    Originally posted by poorautojobber View Post
    sent i don't think it can make things worse.
    Agreed. However I don't believe it will make anything better. I believe they will be handed to the MP's HMRC overlords who will assign a graduate to writing a standard reply.

    I hope I am wrong.

    Leave a comment:


  • poorautojobber
    replied
    sent i don't think it can make things worse.

    Leave a comment:


  • tarbera
    replied
    so

    Originally posted by Eirikur View Post
    Never to become a member ever again and keep my £250 per year
    so you are in the clear if IR35 rules are introduced into the private sector then?

    Leave a comment:


  • AtW
    replied
    Originally posted by SueEllen View Post
    some times my company has staff or other freelancers.
    A job creator!

    Leave a comment:


  • SueEllen
    replied
    Originally posted by malvolio View Post
    So write your own...
    Yeah I know......

    Done it before with the other thing but stole sentences from IPSE example.

    Leave a comment:


  • malvolio
    replied
    Originally posted by SueEllen View Post
    So that what happened with my letter.....


    Edited to say: the template letter doesn't suit my circumstances as some times my company has staff or other freelancers.
    So write your own...

    Leave a comment:


  • Eirikur
    replied
    Originally posted by fannyadams View Post
    So what's your plan?
    Never to become a member ever again and keep my £250 per year

    Leave a comment:

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