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IR35 letters going out to GlaxoSmithKline contractors
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Originally posted by northernladuk View PostI don't think she'd suggest it if it was too late. The clue is in why you would do this.Comment
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Originally posted by BABABlackSheep View PostDidn’t see any mention of closing the limited company in her post? Why I asked. I presumed closure would follow as otherwise what’s the point?Comment
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Originally posted by BABABlackSheep View PostDidn’t see any mention of closing the limited company in her post? Why I asked. I presumed closure would follow as otherwise what’s the point?
Originally posted by ChimpMaster View PostIs this enough to escape IR35 for your current and past contracts?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostJust to be out before any inside determinations hit. If you aren't there when HMRC get their next list of GSK contractors with changed determinations then you reduce your exposure to an investigation significantly. Closing might just reduce it further, but times are changing so who knows?
In theory it appears so as no one to date has had a company re-opened to investigate... but these are new times. If you are on HMRC's list as one of a group and you close your company it's not beyond the realms of possibility they'll just re-open if they can sniff a quick win. Who knows? It should reduce the risk in theory though.Comment
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Originally posted by BABABlackSheep View PostGetting out and closing their limited company, or too late for that now?
Whether or not they get an inside IR35 contract next is up to them, but this one is dead in the water whatever happens and I would drop it ASAP."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Originally posted by ChimpMaster View PostIs this enough to escape IR35 for your current and past contracts?
For example, imagine the scenario where you received a negative SDS about your current contract, while in contract, indicating that the contract had always been inside IR35. Imagine that you decided to "get out now" and close the company without accounting for the inside status on past payments. While there's a high bar to transfer debts from a company to an individual, I wonder whether this might make the bar.
There's an old but good article by Jessica@Whitefield Tax here:
IR35 and Personal Liability - can HMRC proceed against an individual? - Whitefield Tax Limited - Isle of Wight Accountants - IR35 specialistsComment
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Originally posted by jamesbrown View PostNot if you've been negligent.
For example, imagine the scenario where you received a negative SDS about your current contract, while in contract, indicating that the contract had always been inside IR35. Imagine that you decided to "get out now" and close the company without accounting for the inside status on past payments. While there's a high bar to transfer debts from a company to an individual, I wonder whether this might make the bar.
There's an old but good article by Jessica@Whitefield Tax here:
IR35 and Personal Liability - can HMRC proceed against an individual? - Whitefield Tax Limited - Isle of Wight Accountants - IR35 specialists
As someone who should definitely know better, I didn't get my current contract reviewed (I used the standard IPSE template, but I know my schedule is probably vaguer than it should be). My main client currently hires 1 contractor (me), so I doubt I'll be top of the list. But going forward I think I'm always going to get that bit of paper saying I've done the due diligence.Comment
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Originally posted by mudskipper View PostI do vaguely recollect someone saying that it hadn't happened (i.e. the individual being pursued for IR35 after company shut) but ICBW.
As someone who should definitely know better, I didn't get my current contract reviewed (I used the standard IPSE template, but I know my schedule is probably vaguer than it should be). My main client currently hires 1 contractor (me), so I doubt I'll be top of the list. But going forward I think I'm always going to get that bit of paper saying I've done the due diligence.
TBH, I don't always get a review. I rarely bother with fixed price work where the terms are unambiguously outside. Mostly it's worthwhile, if only as a source of proof.
For anyone left contracting post April 2020, IR35 is going to become a non-issue in many ways (i.e., for work after April 2020 at mid/large companies). The main source of worry will be threads like this, looking backwards.Comment
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Originally posted by northernladuk View PostJust to be out before any inside determinations hit. If you aren't there when HMRC get their next list of GSK contractors with changed determinations then you reduce your exposure to an investigation significantly.Comment
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