24th Feb deadline for handing in your notice

[northernladuk]

Depends.

There are plenty out there, this is a sad fact.

I know I have had the misfortune to have worked with a few

And in those cases HMRC have done the right thing. Again, sadly, everyone get's tarred with the same brush.

[pictavia]

Very few IMO. This mentality that there is nothing out there beyond PS work is pretty poor IMO. It's still a short term gig like any other so a knee jerk reaction to shut the company down is pretty short sighted.

Yes, I think you are correct there are plenty of opportunities outside the PS. I was assuming that HMRC would like to role out similar changes to the private sector at some point.

[northernladuk]

Yes, I think you are correct there are plenty of opportunities outside the PS. I was assuming that HMRC would like to role out similar changes to the private sector at some point.

The feeling is they will try but IMO people have to focus on the issue now, not what might happen. So many people not understanding what is happening in the next 4 weeks let alone making decisions based on a total unknown that might or might not happen in 3-4 years.

[fidot]

There are some new rules about shutting down LTD's and not being able to work in the same trade for 2 years after. .

Only if you are taking Entrepreneurs' Relief. Even then, there is nothing to stop one from doing it - just tax implications.

[cojak]

Regarding the 24th, is there any fear that even that is leaving it too late as the client may assess you whilst you're working your notice and give your details to HMRC thereby making you more prominently on the radar than someone who slipped away before the assessment took place?

Not really - the PS contractor who had their contract reviewed by QDOS et al had it confirmed as outside. They may well have been outside if they'd stayed. You can't compare the expired contract with nothing, can you?

[northernladuk]

Only if you are taking Entrepreneurs' Relief. Even then, there is nothing to stop one from doing it - just tax implications.

Yep. If people don't understand what is happening to their gigs in less than 6 weeks I'm pretty sure they won't fully understand changes to closing the company down. Just throwing out there.

[b r]

My agency is arranging for extra payments so that any invoices can be paid to my company prior to April 5th (at a fee). A further concern around that is the payment between the client and the agency and if that occurs after the regulation changes will that also raise a flag to HMRC or is it only the fee-payer payment that is affected?

My OH's agency said that they wouldn't be altering their payment schedule, they've now changed their mind (pretty sure we weren't the only ones questioning this) and have guaranteed payment by 5th April or earlier.

[Andy Hallett]

We are paying all timesheets and invoices for PSC's in Public Sector received by 4th April on 5th April. This will be at nil cost.

E-mails are going out today / tomorrow confirming this. Marketing are just correcting my poor grammar as we speak.

You may wish to edit the title:

How about "24th Feb deadline for handing in your notice unless you contract with an enlightened agency"

[RonBW]

Only if you are taking Entrepreneurs' Relief. Even then, there is nothing to stop one from doing it - just tax implications.

And if people do claim ER then we might eventually get some clarity over whether closing down and taking a permanent (or even temporary) job paid via PAYE counts as the same trade or not.

[northernladuk]

And if people do claim ER then we might eventually get some clarity over whether closing down and taking a permanent (or even temporary) job paid via PAYE counts as the same trade or not.

That's a very good point. I'd hate to be the guinea pig case though