HMRC Announcement - Damage Done

[LetterBox]

I know it's of no comfort to most when I went inside I felt better off as I was getting a lump sum per month instead of paying myself a divi at the beginning of the year and having to manage that throughout the year. Yes overall it was a drop in income, warchest doesn't get topped up etc but my monthly income appeared higher.

Obviously not good if you pick it apart but there was at least some kind of positive out of it that might help some out there.

It's awhile ago now but I don't remember using a P45 as I didn't leave my LTD. Can't remember exactly how I did it though.

The kicker.

[northernladuk]

The sad part is watching some contractors going PAYE / umbrella and getting their first 'paycheck' - as they are now employees and then realising how little income they will get compared to working Outside.

Actually, have any contractors on here going PAYE/ umbrella, been asked for their P45 from 'theirCo' yet by their Brolly / PAYE agency?

I know it's of no comfort to most when I went inside I felt better off as I was getting a lump sum per month instead of paying myself a divi at the beginning of the year and having to manage that throughout the year. Yes overall it was a drop in income, warchest doesn't get topped up etc but my monthly income appeared higher.

Obviously not good if you pick it apart but there was at least some kind of positive out of it that might help some out there.

It's awhile ago now but I don't remember using a P45 as I didn't leave my LTD. Can't remember exactly how I did it though.

[pacontracting]

Gives me 4 more days to work before sitting back and watching the carnage for a few months.

The sad part is watching some contractors going PAYE / umbrella and getting their first 'paycheck' - as they are now employees and then realising how little income they will get compared to working Outside.

Actually, have any contractors on here going PAYE/ umbrella, been asked for their P45 from 'theirCo' yet by their Brolly / PAYE agency?

[babybel]

Whoopeedo

Gives me 4 more days to work before sitting back and watching the carnage for a few months.

[cojak]

The rules, also known as IR35, will now apply only to payments made for services provided on or after 6 April 2020. Previously, the rules would have applied to any payments made on or after 6 April 2020, regardless of when the services were carried out. It means organisations will only need to determine whether the rules apply for contracts they plan to continue beyond 6 April 2020, supporting businesses as they prepare.

Well I don’t know about you, but I don’t have a fecking clue what that means...

Edit ah, I get it now.

[northernladuk]

KUATB

https://www.contractoruk.com/forums/...st2726808.html

[Pity the fool]

Didnt see this posted yet.

HMRC announces change to the off-payroll working rules - GOV.UK

Most of folk i know are terminated effective from 28 Feb so this is too little too late.