What are the implications of HMRC press release?

[mickey]

HMRC reveals PSC dividends to be more than just monitored :: Contractor UK

[bobspud]

HMRC reveals PSC dividends to be more than just monitored :: Contractor UK

They look at your accounts, decide that they want more money send you a letter and then find the PCG replying then move on to another target

[d000hg]

HMRC’s Robin Wythes thinks that without the rule [IR35], “most directors would simply pay themselves up to the primary threshold to protect their NI position and [then] take…virtually all of their [remaining] income” out as dividends.

And?

[mudskipper]

Anyone who's paying themselves more than the minimum but < 50% might as well just pay the minimum.

Fill yer boots!

[Mich the Tester]

What are the implications of HMRC press release?

The implications are exactly the same as the recent actions of the Dutch tax office and our so called business friendly coalition toward freelancers; the slimey vindictive bastards are going to ruin the lot of us so we may as well enjoy ourselves while we can.

[Zero Liability]

Well I thought this was what they do to risk-assess anyway? Thing is, there's still a good 100k PSCs that do take the more 'aggressive' approach she is referring to, so it narrows it down but not by much. Besides, might there not be other tax efficiency considerations that prevent one from drawing down more in dividends? One would expect them to try target cases with higher potential yield. I think this is all just to cobble up a distraction from the horrible cost-efficiency of IR35 with regard to its direct yields.

[MicrosoftBob]

HMRC want to make tax avoidance illegal

[Mich the Tester]

HMRC want to defend their vested interests, their gold plated public sector pensions and their cushy arsewipe jobs living off other people's productive work

ftfy

[mudskipper]

I had a dream about an IR35 letter last night