Reply to: Ipse - webinar 2nd April

[CheeseSlice]

Replay here


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Thats an older one. This is the 2nd April one:

Webinar: Coronavirus Support - What Can You Get

Also, link directly to the LTD company directors section

Lastly, because I'm so kind, the juicy bit about alternatives to propping up dividends.
IPSE are basically saying they've "not given up on LTD company contractors", they're in active discussion with the Treasury.
Calls out possible mechanisms they're looking at, such as a break in corporation tax, or an increase on the directors personal tax allowance.
They (IPSE) are also looking at if it makes sense to 'inject' cash into the company (rather than directors earnings).

[oliverson]

Which you have the opportunity to reduce via your SA (but will pay interest on if you're wrong) or will get the advance payments back (and I think can gain interest on) if HMRC are wrong.

The principle is the same no matter the mechanics 'profits not yet realised'.

[malvolio]

Why would I waste my time - I'm going for the adage of be careful what you wish for as it may come true - HMRC will allow the creation of FLC's force one person bands to use them and then tax them to the hilt.

Fear and loathing in one sentence. Well done.

[Paralytic]

Yet they don't have a problem demanding tax for profits not yet realised either, end of January and balancing payment end July.

Which you have the opportunity to reduce via your SA (but will pay interest on if you're wrong) or will get the advance payments back (and I think can gain interest on) if HMRC are wrong.

[oliverson]

PSCs aren't "excluded". Government handouts for profits not realised and associated dividends are excluded.

Yeah, for listed companies too.

That IPSE is still pushing for that is stupid. It was stupid that they asked in the first place. They know it isn't going to happen and I suspect they also realise that they shouldn't have asked because it looks like they want to distinguish between our businesses and other, "proper", businesses. Yeah, great idea.

Yet they don't have a problem demanding tax for profits not yet realised either, end of January and balancing payment end July.

[eek]

Yep, just relaying / summarising what they said.

Sure they would be happy for you to register for the next call, and you can give them your views direct.

Why would I waste my time - I'm going for the adage of be careful what you wish for as it may come true - HMRC will allow the creation of FLC's force one person bands to use them and then tax them to the hilt.

[jamesbrown]

Yep, just relaying / summarising what they said.

Sure they would be happy for you to register for the next call, and you can give them your views direct.

Oh, I listened. And Seethed.

[toastermoster]

PSCs aren't "excluded". Government handouts for profits not realised and associated dividends are excluded.

Yeah, for listed companies too.

That IPSE is still pushing for that is stupid. It was stupid that they asked in the first place. They know it isn't going to happen and I suspect they also realise that they shouldn't have asked because it looks like they want to distinguish between our businesses and other, "proper", businesses. Yeah, great idea.

Yep, just relaying / summarising what they said.

Sure they would be happy for you to register for the next call, and you can give them your views direct.

[eek]

PSCs aren't "excluded". Government handouts for profits not realised and associated dividends are excluded.

Yeah, for listed companies too.

That IPSE is still pushing for that is stupid. It was stupid that they asked in the first place. They know it isn't going to happen and I suspect they also realise that they shouldn't have asked because it looks like they want to distinguish between our businesses and other, "proper", businesses. Yeah, great idea.

But IPSE is the home of the FLC and by pushing for PSCs to be treated differently it actually justifies the existence of that rather stupid idea.

[jamesbrown]

PSCs aren't "excluded". Government handouts for profits not realised and associated dividends are excluded.

Yeah, for listed companies too.

That IPSE is still pushing for that is stupid. It was stupid that they asked in the first place. They know it isn't going to happen and I suspect they also realise that they shouldn't have asked because it looks like they want to distinguish between our businesses and other, "proper", businesses. Yeah, great idea.

[toastermoster]

Yes, I was on the call, think they said there was about 500 people on it.

Personally, thought it was useful. Probably been noted elsewhere, but IPSE advised they were consulted by the gov on what measures should be put it - they gave their opinion and specifically said PSC's should be included in the support. And obviously they disagreed with that part.

They did make many comments that they disagreed with the PSC exclusion and were lobbying the treasury, and they were having many direct talks with them. They did go into quite a bit of detail on what their views were - I can't recall of it so might be worth people fast forwarding the recording to that part if they wanted.

Banged on a lot about how the opposed IR35 as well - and how they need to frame their lobbying so not to weaken their argument on this. But again, this has been discussed on threads already.

Proposal from them was to run a Webinar every week with updates (not just on this area but all that is going on).

[Paralytic]

I was about to say that someone should answer this.

I don't really think there is any need

[HoofHearted]

I was about to say that someone should answer this.

Maybe you should

[jamesbrown]

Did anyone attend?

I was about to say that someone should answer this.

[ladymuck]

Did anyone attend?