MSC back dating again

[beerbarrel]

I was with Powerhouse, I am going to use a brolly and have accepted that I will be earning less than before. At least its safe.

I have been assured there will be no back dating, but going forward all the agencies are sh**ing themselves over the transfer of debt provisions.

[Robot]

I was with giant powerhouse and left to avoid the problem. If they can't find me giant will have to pay the back tax!

I spoke to an accountant and followed his advice...he said get out now and don't wait.

Beerbarrel Re back tax, is this because of a 'potential' Section 660 or a dispensation problem (i.e. claiming expenses you have not incurred) or a capital distribution problem (i.e. you have closed the company down via ESC16 then opened another the next day / week with your new accountant) ?

Robot

[Bluebird]

you may also read from the report that the gvt is asking "comments" regarding the legislation - rather than suggestions / opinions or oppositions.

this is coming in in April and there is nothing that will stop it.

In a statement, Lawspeed reflected: “Whilst some (contractors) may be tempted to consider that there is time after 6th April 2007 to change their arrangements, there is in fact no time if potential tax liability is to be avoided.”

If you are Brolly or MSC - get out whilst you can.

[Bluebird]

the report specifically states "The new laws in final form will apply to any tax debt incurred from April 6 2007."

[Sockpuppet]

If they can't find me giant will have to pay the back tax!

So where are you emegrating to? Because if you stay in the UK they WILL find you.

[beerbarrel]

I was with giant powerhouse and left to avoid the problem. If they can't find me giant will have to pay the back tax!

I spoke to an accountant and followed his advice...he said get out now and don't wait.

[Ivor1]

Others have said previously they wont back date on MSC's come April, however what do they make on the CUK article,

http://www.contractoruk.com/news/003094.html

I still see that word debt in there, it just doesnt seem clear to me and I dont trust them, opionion please

Also the law comes in on April 2007, do you think income I have earnt April 06 - Apr 07 will full under the new rules, logic being that I wont declare all my divs from the MSC for that 06-07 tax year until I put my tax return in for this period in Jan 08 ?