HMRC consultation on penalties for scheme developers/marketers

[AtW]

Yep, next up one man ltd companies pretending to be in business, and the accountants that promote working like that

HMRC increased dividend tax, and it will increase again in the future to "simplfy" things, that in itself enough to remove big tax advantage Ltds gave, plus IR35 and other things make it more controllable.

[QCApproved]

Defeated includes agreeing with the HMRC that the scheme does not work

[carling]

HMRC increased dividend tax, and it will increase again in the future to "simplfy" things, that in itself enough to remove big tax advantage Ltds gave, plus IR35 and other things make it more controllable.

Or maybe they will just retrospectively strengthen IR35 to stop avoidance in that area, "clarify" how it should have worked.

[QCApproved]

Indeed Carling
That is where the big pot of money is - retro Ltd Co action via the increased divs perhaps to address the IR35 omnishambles
Be good if Webberg could give his opinion in due course on this new development

[centurian]

Yep, next up one man ltd companies pretending to be in business, and the accountants that promote working like that

Was wondering that. How will QDos / IPSE contract reviews fare - if the contractor subsequently loses an IR35 case.

[difficulttimes]

QC - so are you saying when you settle this is saying that it is 'defeated'? How does it work if only some settle and some don't???

[AtW]

Or maybe they will just retrospectively strengthen IR35 to stop avoidance in that area, "clarify" how it should have worked.

Or maybe you get hit by a bus and none of this would matter... risk is present in everything, but the level is very different.

[carling]

Or maybe you get hit by a bus and none of this would matter... risk is present in everything, but the level is very different.

I agree to an extent. However the risk of retro Ltd Co action surely goes up everytime HMRC get away with these "consultations".

[AtW]

I agree to an extent. However the risk of retro Ltd Co action surely goes up everytime HMRC get away with these "consultations".

Those "consultations" are a sham - by the time they "consult" they'll have already made up their mind anyway - this is essentialy a forward warning on what will happen, so that those who have ears will hear it...

[carling]

Those "consultations" are a sham - by the time they "consult" they'll have already made up their mind anyway - this is essentialy a forward warning on what will happen, so that those who have ears will hear it...

If only.