Originally posted by Keanu2020
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Reply to: tax enquiry insurance
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Previously on "tax enquiry insurance"
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Originally posted by eek View Post
oh the FLC hasn’t been forgotten - I’m
expecting it to appear in the next Labour Government as a fix for self employment - basically it will make you PAYE but allow some money to be kept untaxed for use during periods where you aren’t working.
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Originally posted by Maslins View PostAll I'd say here is don't buy it from your accountant. Whenever I've heard any accountants talk about offering this to their clients, they chuckle about the fact they add a huge markup on the premium itself, then if ever HMRC query anything, the accountant can get paid £££ from the insurer for dealing with it.
Fear sells, and it's an easy way your accountant can cream extra cash from you without you realising.
If you're going to get insurance like this, make sure it benefits you, not your accountant.
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All I'd say here is don't buy it from your accountant. Whenever I've heard any accountants talk about offering this to their clients, they chuckle about the fact they add a huge markup on the premium itself, then if ever HMRC query anything, the accountant can get paid £££ from the insurer for dealing with it.
Fear sells, and it's an easy way your accountant can cream extra cash from you without you realising.
If you're going to get insurance like this, make sure it benefits you, not your accountant.
Leave a comment:
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Originally posted by eek View Post
oh the FLC hasn’t been forgotten - I’m
expecting it to appear in the next Labour Government as a fix for self employment - basically it will make you PAYE but allow some money to be kept untaxed for use during periods where you aren’t working.
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Originally posted by Protagoras View PostThe representation at parliamentary committees is always strong
I agree that Andy Chamberlain is always very good in PCs.
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Originally posted by mudskipper View Post
I suspect FLC has quietly been forgotten.
expecting it to appear in the next Labour Government as a fix for self employment - basically it will make you PAYE but allow some money to be kept untaxed for use during periods where you aren’t working.
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Originally posted by jamesbrown View Post
Did you accidently transpose the words criticism and organisation?
IPSE always oversold their lobbying "successes", so it's fair game to criticise their consistent lobbying failures (that is, the failure to even identify the correct things to lobby over and a plausible strategy to address them). But the real failure was buying into political lobbying as a workable strategy
Again, they're in a perilous spot now - look at their recent financials - and it isn't purely related to the pandemic and IR35, rather a failure to be relevant to the core membership paying those Plus membership fees.
The finances are terrible now but that is as much from Chapter 10 changes and the impact that has had as anything.
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Originally posted by Fred Bloggs View Post
In the present environment, worth knowing what their cover is for MSC legislation related enquiries?
Originally posted by jamesbrown View PostAgain, they're in a perilous spot now - look at their recent financials - and it isn't purely related to the pandemic and IR35, rather a failure to be relevant to the core membership paying those Plus membership fees.Last edited by Protagoras; 1 April 2023, 20:15.
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Originally posted by malvolio View PostNevertheless, a pointless criticism of a what was a different organisation with different aims.
IPSE always oversold their lobbying "successes", so it's fair game to criticise their consistent lobbying failures (that is, the failure to even identify the correct things to lobby over and a plausible strategy to address them). But the real failure was buying into political lobbying as a workable strategy
Again, they're in a perilous spot now - look at their recent financials - and it isn't purely related to the pandemic and IR35, rather a failure to be relevant to the core membership paying those Plus membership fees.
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Originally posted by mudskipper View Post
I suspect FLC has quietly been forgotten.
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Originally posted by mudskipper View Post
I suspect FLC has quietly been forgotten.
Nevertheless, a pointless criticism of a what was a different organisation with different aims.
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Originally posted by Protagoras View Post
There seems to be a difference in the tax enquiry insurance offerings with regard to personal tax enquiry cover ..
IPSE - "Both Standard and Plus memberships protect you and your business from any HMRC tax investigation. This includes Income Tax enquiries, VAT disputes, and of course IR35 investigations." https://www.ipse.co.uk/ipse-news/ips...embership.html
FSB - "If the enquiry starts by looking into your business accounts and then HMRC decide to look at your personal finances, our tax investigations service will cover that."
https://www.fsb.org.uk/join-us/membe...rotection.html
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Originally posted by jamesbrown View Post
The limitations of lobbying is one thing, their insane policy positions, such as the FLC, another
I wouldn't be surprised if IPSE weren't too much longer of this world.
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