Why should my MP worry about retrospective taxation on avoiders?

[speling bee]

I disagree strongly; you're avoiding NI, and masking your earnings. Also strange to hear you're out of IR35, when you've just said you've been at the same place for 36 odd months. Something doesn't add up here.

I've not been at the same place for 36 months.

One contract has been running for 1 month, at a client I had left 2 months before after an 11 month stint.
One contract has been running for 5 months.
I have just signed off deliverables on a third contact that started 18 or so months ago, but which effectively finished (bar final sign off) 10 months ago.

Thinking of someone else perhaps?

[speling bee]

I also do not believe you are paying 30%, unless you mean Corp tax, and Income tax?

You said you pay min income tax, and almost no NI. You divi up your income, paying the lowest amount, and what is left is kept in the company, subject to corp tax, yes?

I am sitting here thinking 30% is rather high, I reckon we do between 17-20%, doing pretty much the same.

Can you justify your wife being a shareholder? Or is she income masking for you?

These are genuine questions, for I am pretty much exactly as you are doing, with a couple of bells, and I am interested in your take on the morality of it all.

I think I said 30% of my daily rate.

So, CT, PAYE / NIC and at some point I will get the rest of the money out of the company account, and that won't be tax free. Is that about 30%?

I justify my wife being a shareholder (33%) as she bears as much of the risk that I do in running a business, as opposed to when I had a secure permie income. You are of course welcome to disagree with any of it, but I am happy with what I do.

[porrker]

I've not been at the same place for 36 months.

One contract has been running for 1 month, at a client I had left 2 months before after an 11 month stint.
One contract has been running for 5 months.
I have just signed off deliverables on a third contact that started 18 or so months ago, but which effectively finished (bar final sign off) 10 months ago.

Thinking of someone else perhaps?

Sounds like a disguised employee with a contract and ltd company to create a sham busines 2 business structure that allows a reduction in tax and NI liabilities... A touch of hipocracy here me thinks.

[speling bee]

Sounds like a disguised employee with a contract and ltd company to create a sham busines 2 business structure that allows a reduction in tax and NI liabilities... A touch of hipocracy here me thinks.

And you are welcome to that opinion.

Of course it would be hypocrisy, if I had said, 'You deserve retrospective legislation because you use tax planning.'

[Old Hack]

I think I said 30% of my daily rate.

So, CT, PAYE / NIC and at some point I will get the rest of the money out of the company account, and that won't be tax free. Is that about 30%?

I justify my wife being a shareholder (33%) as she bears as much of the risk that I do in running a business, as opposed to when I had a secure permie income. You are of course welcome to disagree with any of it, but I am happy with what I do.

I think you're talking tulip to be honest SB; you said you pay a fair amount, but justify that by masking your earnings, and paying as little Income tax and NIC's as you can.

Your wife, presumably, takes as much risk in your business, as mine does in mine, which is sweet fark all. It's just something nice to say to justify it, for there's no risk at all; as a contractor, and if the work runs out, you look for a new contract, if you don't find one, you look for alternative employment, or claim the dole. Your wife has no risk, and we both know it.

The trouble is, you claim a moral high ground, when you're stood on sand. I don't think I pay anywhere near the fair amount of tax, in fact, like you, I actively avoid doing so; I pay what I have to, and not a penny more. Like you. It's not morally right, as my NIC's were a little over £100 and tax low 4 figures. You're just trying to justify it, which is tulip really, a little like you.

You really are a cock of the highest magnitude.

[speling bee]

I think you're talking tulip to be honest SB; you said you pay a fair amount, but justify that by masking your earnings, and paying as little Income tax and NIC's as you can.

Your wife, presumably, takes as much risk in my business, as mine does, which is sweet fark all. It's just something nice to say to justify it, for there's no risk at all; as a contractor, and if the work runs out, you look for a new contract, if you don't find one, you look for alternative employment, or claim the dole. Your wife has no risk, and we both know it.

The trouble is, you claim a moral high ground, when you're stood on sand. I don't think I pay anywhere near the fair amount of tax, in fact, like you, I actively avoid doing so; I pay what I have to, and not a penny more. Like you. It's not morally right, as my NIC's were a little over £100 and tax low 4 figures. You're just trying to justify it, which is tulip really, a little like you.

You really are a cock of the highest magnitude.

How sad that you are unable to conduct a civil conversation.

[Old Hack]

How sad that you are unable to conduct a civil conversation.

This from someone who went trolling on the professional forums? Nice work mate.

I find it sad you are trying to justify what you do as fair, when it is anything but, but hey ho, at least I know it isn't fair, or morally sound, and know what I do is minimise paying my fair share. I know friends on 30k who pay more NI than me.

[speling bee]

This from someone who went trolling on the professional forums? Nice work mate.

I find it sad you are trying to justify what you do as fair, when it is anything but, but hey ho, at least I know it isn't fair, or morally sound, and know what I do is minimise paying my fair share. I know friends on 30k who pay more NI than me.

I think you asked me about my position and I explained it and you disagreed - in your own style.

But people paying 3 to 5% is important. If you don't see it, then that's OK.

[Old Hack]

I think you asked me about my position and I explained it and you disagreed - in your own style.

But people paying 3 to 5% is important. If you don't see it, then that's OK.

No, you said you paid 'the fair amount', and I queried how you come to it being the fair amount; lets not get these discussions wrong now.

There is a difference, but, when does it become fair, at what point, when does the amount you pay marry to it being fair? You're telling me it is fair, which is subjective and done to cover what you are actually doing, as it really isn't fair to minimise your NIC's: this is what you are missing; if you don't see it, then that's OK too.

[vetran]

I think you're talking tulip to be honest SB; you said you pay a fair amount, but justify that by masking your earnings, and paying as little Income tax and NIC's as you can.

Your wife, presumably, takes as much risk in your business, as mine does in mine, which is sweet fark all. It's just something nice to say to justify it, for there's no risk at all; as a contractor, and if the work runs out, you look for a new contract, if you don't find one, you look for alternative employment, or claim the dole. Your wife has no risk, and we both know it.

The trouble is, you claim a moral high ground, when you're stood on sand. I don't think I pay anywhere near the fair amount of tax, in fact, like you, I actively avoid doing so; I pay what I have to, and not a penny more. Like you. It's not morally right, as my NIC's were a little over £100 and tax low 4 figures. You're just trying to justify it, which is tulip really, a little like you.

You really are a cock of the highest magnitude.

I was right with until the last two sentences.