Received this in my spam folder last night
" While HMRC has been letting Google, Amazon, Apple, Tesco and 100’s of companies get away with avoiding paying taxes on billions of pounds worth of profits. They have been quietly plotting the biggest master stroke in their history.
This master stroke is so brilliant it will affect almost every contractor like you.
From April 1st 2015 the biggest legislative change in the contractor marketplace will happen and it's no laughing matter.
From April 1st every recruitment company that engages with contractors will have to report directly to HMRC supplying them with information about you and your contract details under the disguised self employment regulations.
This include your personal details, national insurance number, end user client details and how much they paid you; what's more is they will have to retain this information and continue reporting on it for 12 months, even after your assignment ends.
Now I'm sure you're thinking “so what” but stick with me this is huge!
Say you're using a limited company to manage your contract and taking a small salary and the rest in dividends to reduce your tax exposure. In the past this was what agencies and accountants recommended you do. For April 1st this is the fast track to get a ir35 investigation.
HMRC has set clear triggers in their reporting to identify who is using a Ltd Co to manage their contract and, let’s be honest, there isn’t a contractor out there that will pass a IR35 audit no matter how “friendly” their contract is.
If you ask me, they won’t need IR35 anymore; under the new Disguised Self-Employment regs HMRC will assume their is some form of Supervision, Direction or Control in your chain (and believe me, it’s up to you to prove their isn’t) which allow them to reclassify you as “employed” anyway. IR35 will just be used as an additional tool to apply to your self-assessment.
HMRC won’t be happy until every contractor is paying PAYE and the reporting sets out to catch all those that aren’t.
But there is a way to give HMRC what they want and remove you from all the honey traps in place. It’s not for everyone, in fact we are proud to that we turn away more people than we work with; take you OUT OF SELF-ASSESSMENT and Hide you in full view!
We want to leave you with one point to consider, No matter how the media, government and public condemn the actions of google, amazon and the others they’re working to provide the best returns for their shareholders and employees. Part of that is to pay the least amount of tax within the current legislation. This is how they continue to get away with paying what they pay.
Until now this knowledge and expertise has been outside of the reach of the contractor marketplace.
The time to take action is now after the first of April it will be too late.
Talk to us today before it's too late "
This is just a crock of "tulip" right?
" While HMRC has been letting Google, Amazon, Apple, Tesco and 100’s of companies get away with avoiding paying taxes on billions of pounds worth of profits. They have been quietly plotting the biggest master stroke in their history.
This master stroke is so brilliant it will affect almost every contractor like you.
From April 1st 2015 the biggest legislative change in the contractor marketplace will happen and it's no laughing matter.
From April 1st every recruitment company that engages with contractors will have to report directly to HMRC supplying them with information about you and your contract details under the disguised self employment regulations.
This include your personal details, national insurance number, end user client details and how much they paid you; what's more is they will have to retain this information and continue reporting on it for 12 months, even after your assignment ends.
Now I'm sure you're thinking “so what” but stick with me this is huge!
Say you're using a limited company to manage your contract and taking a small salary and the rest in dividends to reduce your tax exposure. In the past this was what agencies and accountants recommended you do. For April 1st this is the fast track to get a ir35 investigation.
HMRC has set clear triggers in their reporting to identify who is using a Ltd Co to manage their contract and, let’s be honest, there isn’t a contractor out there that will pass a IR35 audit no matter how “friendly” their contract is.
If you ask me, they won’t need IR35 anymore; under the new Disguised Self-Employment regs HMRC will assume their is some form of Supervision, Direction or Control in your chain (and believe me, it’s up to you to prove their isn’t) which allow them to reclassify you as “employed” anyway. IR35 will just be used as an additional tool to apply to your self-assessment.
HMRC won’t be happy until every contractor is paying PAYE and the reporting sets out to catch all those that aren’t.
But there is a way to give HMRC what they want and remove you from all the honey traps in place. It’s not for everyone, in fact we are proud to that we turn away more people than we work with; take you OUT OF SELF-ASSESSMENT and Hide you in full view!
We want to leave you with one point to consider, No matter how the media, government and public condemn the actions of google, amazon and the others they’re working to provide the best returns for their shareholders and employees. Part of that is to pay the least amount of tax within the current legislation. This is how they continue to get away with paying what they pay.
Until now this knowledge and expertise has been outside of the reach of the contractor marketplace.
The time to take action is now after the first of April it will be too late.
Talk to us today before it's too late "
This is just a crock of "tulip" right?
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