Levy

[kxw]

Just a general question if contractors were asked to pay a levy based say on the national insurance class 4 idea of lower level profits and upper level what would you say to that?

I am always arguing in the office my first job of 30+ years was in the niche area of accounting, Doctors' Accounts, and this current job where the clients are mainly contractors, and many were lost in 2020-21 due to IR35 laws. If a levy of some sort helps the govt get back some of the tax lost it would put an end to IR35. Yes, I appreciate Contractor UK et al wouldn't be too happy but seems to be a solution of sorts.

Hope this is not like youtube with effing and jeffing if any comments are not liked.

Thank you for your time.

[cojak]

Just a general question if contractors were asked to pay a levy based say on the national insurance class 4 idea of lower level profits and upper level what would you say to that?

I am always arguing in the office my first job of 30+ years was in the niche area of accounting, Doctors' Accounts, and this current job where the clients are mainly contractors, and many were lost in 2020-21 due to IR35 laws. If a levy of some sort helps the govt get back some of the tax lost it would put an end to IR35. Yes, I appreciate Contractor UK et al wouldn't be too happy but seems to be a solution of sorts.

Hope this is not like youtube with effing and jeffing if any comments are not liked.

Thank you for your time.

I have no idea what this post addresses or solves.

Anyone else have a clue?

[_V_]

I think we have the first AI based sockie account.

[vetran]

I think we have the first Artificially Ignorant based sockie account.

We have aTw the doomsayer?

[_V_]

We have aTw the doomsayer?

I think that's Artificial Stupidity?

[jamesbrown]

Just a general question if contractors were asked to pay a levy based say on the national insurance class 4 idea of lower level profits and upper level what would you say to that?

I am always arguing in the office my first job of 30+ years was in the niche area of accounting, Doctors' Accounts, and this current job where the clients are mainly contractors, and many were lost in 2020-21 due to IR35 laws. If a levy of some sort helps the govt get back some of the tax lost it would put an end to IR35. Yes, I appreciate Contractor UK et al wouldn't be too happy but seems to be a solution of sorts.

Hope this is not like youtube with effing and jeffing if any comments are not liked.

Thank you for your time.

You might want to ask this outside of General

This has been discussed a million times. There's an argument for making close companies "look through" w/r to their income (i.e., income of the company is income for the individual). Other jurisdictions do that. But there are some downsides too in terms of competitiveness and details to argue over w/r to whether the tax basis should be self-employed () or employed. Remember, ErNI is a major source of income for the Treasury, even more so after the recent budget, and the self-employed do not pay ErNI. Short of "look through", it doesn't really stack up because there's always the opportunity for tax deferral or "money-boxing".

When Labour wins the next election, the tax basis is likely to be roughly the same as employment, perhaps worse, as they will align dividend and capital gains tax with income tax rates and there will be no notional tax credit for CT paid, so you'd actually be much better off with self-employment (not a possibility for most professionals, for several reasons) or proper employment (forget about fake umbrella employment).

[northernladuk]

I think we have the first AI based sockie account.

I thought the I stood for intelligence?

[SueEllen]

I thought the I stood for intelligence?

Depends on the context

[ladymuck]

I thought the I stood for intelligence?

Imbecile? But, with so many naturally displaying that trait, I don't know why someone would artificially reate it

[kxw]

I have no idea what this post addresses or solves.

Anyone else have a clue?

I thought IR35 about govt losing money because man A computer programmer working under PAYE is paying more than man B that doing same work via self-employment or PSC. Is my understanding correct