Reply to: Simpler taxes for small companies

[TheFaQQer]

Doesn't mention that, but it's worth signing up just to get £25 a night for sleeping on your friends sofa!

Bargain.

I'll stick to using my own magic dispensation, thanks

[chris79]

Doesn't mention that, but it's worth signing up just to get £25 a night for sleeping on your friends sofa!

[bogeyman]

what can they mean?

No idea.

That's straight from the quilled pen of Sit Humphrey Appleby.

[TheFaQQer]

My reliable source informs me differently:-

http://www.tarpon-uk.com/information/s660/

If any family member holds more than 5% equity, everyone becomes subject to S660A and IR35.

Avoid coming under the HMRC microscope. Join Tarpon: maximise your net income, minimise your hassle, and stay completely legal.

edited

[ratewhore]

The Government announces, with retrospective effect from 12 March 2008,
clarification of indefinitely retrospective legislation introduced in 1987 to counter double
taxation treaty avoidance schemes, so that the legislation applies as intended and is effective.
This will ensure that, notwithstanding the wording of any double taxation treaty, UK residents
pay UK tax on their profits from foreign partnerships. Budget 2008 announces there will also
be a further measure to prevent future tax avoidance through the misuse of double taxation
treaties by UK residents.

what can they mean?

[bogeyman]

My reliable source informs me differently:-

http://www.tarpon-uk.com/information/s660/

Tarpon?

[chris79]

Your accountant is wrong for another year.

My reliable source informs me differently:-

http://www.tarpon-uk.com/information/s660/

[SueEllen]

"will not enact legislation from 6 April 2008" is what they said ...

HMRC not changing the rules to suit them

[Sockpuppet]

4.70 The Government is concerned at the growing use of structures, such as “umbrella
companies” or overarching contracts of employment with employment businesses, to obtain
tax relief for travel expenses that would not be available to other workers. It will monitor the
use of these structures and, if necessary, consider action in the future.

Sweet.

I don't use umbrellas or have an employment contract of employment with an employment business.

I have a business to business contract and am employed by MyCo. Sweet!

[moorfield]

If they do introduce legislation in 2009 is there any possibility that this could be applied retrospectively? Who would be hit with the tax bill?

"will not enact legislation from 6 April 2008" is what they said ...

[Ruprect]

If they do introduce legislation in 2009 is there any possibility that this could be applied retrospectively? Who would be hit with the tax bill?

[Hiram King Of Tyre]

I don't think they favour that either...

[oracleslave]

I don't shift my income, but I do split profits with another shareholder

What he said.

[Bagpuss]

Do you guys shift your income? My accountant says that's a definate no no

I don't shift my income, but I do split profits with another shareholder

[NotAllThere]

Your accountant is wrong for another year.