Nightmare becomes reality

**northernladuk** · 7 March 2018, 10:38

Bit overkill that isn't it.

**malvolio** · 7 March 2018, 10:43

It's Gerry. Best ignored.

**regron** · 7 March 2018, 10:44

Wouldn't put it past them though.

**oliverson** · 7 March 2018, 10:53

keep seeing mention of contractors having to close down their limited due to these changes. Is that really feasible - close them down and just walk away, possibly owing tax, etc?

**DaveB** · 7 March 2018, 11:02

So a hyperbolic article predicting the demise of the Ltd. Co. contractor followed by an advert for a couple of no doubt related Umbrella companies.

Hmm...

A slightly less hysterical take on it here.

https://www.contractoruk.com/news/00...mpaign=Comment

**NotAllThere** · 7 March 2018, 11:40

Originally posted by oliverson View Post

keep seeing mention of contractors having to close down their limited due to these changes. Is that really feasible - close them down and just walk away, possibly owing tax, etc?

No, because it's a personal tax.

**b0redom** · 7 March 2018, 11:42

Erm. I've not heard anything regarding retrospective investigations beyond anecdotal panicking.

Sure HMRC may look at your current status and say - you're a disguised employee you're liable for extra tax on your current contract, but I've seen nothing to suggest that they will use that as a tool to go back and look at previous contracts?

**poorautojobber** · 7 March 2018, 13:30

It may not be true but it could be and that's the point. Really looking forward to the fun beginning for the rest of us!

**b0redom** · 7 March 2018, 16:07

Monkeys might fly out of my butt, but I bet they don't. Unless there's any supporting evidence (and I'm yet to see any), screaming about retrospective taxation is just FUD at this stage.

Nightmare becomes reality