Food For Thought T&S

[LisaContractorUmbrella]

The confusion here has come because there have been 2 T&S consultations going on at HMRC - one involves contractors specifically and one involves the workforce at large. HMG decided that the whole issue of T&S expenses needed looking at but that intermediary workers was their main priority - that's why the situation will change for contractors in April next year but not the population at large. I think the article the OP referred to is concerned with the 'majority' consultation

[fidot]

So it does still affect us, but it's not targeted at freelancers.

[PurpleGorilla]

So it does still affect us, but it's not targeted at freelancers.

Got it, come April 2016 were farked

[Zero Liability]

Got it, come April 2016 were farked

Depends on how big a part T&S play in running your business; it may just end up making the "flexible" labour force that much less flexible. Combined with the new dividend tax it could have a rather nasty hit.

[PurpleGorilla]

Depends on how big a part T&S play in running your business; it may just end up making the "flexible" labour force that much less flexible. Combined with the new dividend tax it could have a rather nasty hit.

For me around £800/m travel

[SpontaneousOrder]

For me around £800/m travel

For me whatever the tax is on £1500 a month.

[oracleslave]

It'll all become clear soon enough - who ever heard of the government not providing absolute clarity in the rules?

Now or retrospectively?

[TykeMerc]

For me whatever the tax is on £1500 a month.

£1,500 - £2,000 average here, unsustainable for obvious reasons. If nothing else it takes up a LOT of the tax band before the upper rate kicks in, if it's liable for tax it must be included in tax banding.

Now or retrospectively?

Fair question given past history, fortunately there's been no indication of a possible retrospective element, but I'm sure at one point the NTRT folks felt that way, no way to have any certainty.

[PurpleGorilla]

I really don't see why it is OK for a small consultancy with several staff to legitimately claim T&S, but for a one man ltd co consultancy it will no longer be legit. It makes me mad.

[cojak]

I really don't see why it is OK for a small consultancy with several staff to legitimately claim T&S, but for a one man ltd co consultancy it will no longer be legit. It makes me mad.

In the small consultancy I've recently worked with, their permie consultants have to pay the first £150 of their monthly expenses out of their own pocket. This was agreed with HMRC, so don't think they get away with it scot-free.