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.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: MSC back dating again
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "MSC back dating again"
Collapse
-
Originally posted by beerbarrelI 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
Leave a comment:
-
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.
Leave a comment:
-
the report specifically states "The new laws in final form will apply to any tax debt incurred from April 6 2007."
Leave a comment:
-
Originally posted by beerbarrelIf they can't find me giant will have to pay the back tax!
Leave a comment:
-
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.
Leave a comment:
-
MSC back dating again
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 ?Last edited by Ivor1; 14 February 2007, 10:38.Tags: None
Partners
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: