Suppose I get involved in some protracted IR35 investigation that may or may not cost me tens of thousands of pounds, I may just sell up and disappear abroad somewhere out of harm's way. What worries me is that the IR must realise that this would be the chosen course of action for a lot of people in these circumstances so my question is could they prevent me from selling any assets (house etc) during an investigation or while appeals are pending? I assume not as it would be a breach of human rights - innocent until proven guilty etc.
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I would edit that if I were you. Not a good thing to be post that could be deemed threatening on a public forum.Originally posted by pmeswani View PostComment
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Fair point. I've edited it.Originally posted by oracleslave View PostIf your company is the best place to work in, for a mere £500 p/d, you can advertise here.Comment
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Negligence is the key.Originally posted by wurzel View Post
Run your business in the way it should be run, take all the money out and spend it, why not? You've earned it. If your paperwork is all in order and you have processed everything the way it should be, sit back and relax. Take your money and enjoy.
If Hector comes a knocking and spins a famous yarn that means your company has to cough, no worries, as I've said before (IMHO), hand him the empty business bank account and the office stapler. For Hector to touch you personally he would have to prove your director(s) acted with negligence. That is a much more difficult thing to prove.
Hang loose mother goose, don't let this IR35 scarey stuff get you down.Comment
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I'm not sure I would agree with you Jubber.
IR35 is set to prove that the income you recieve should have been subject to PAYE, your company may well have to cough for the employers NI, but employee NI and Income Tax is yours persoanally.Cenedl heb iaith, cenedl heb galon
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No it's not. IR35 is set to ensure that the income *your* company receives is subject to PAYE. This is subtly different. There is no point in the process at which this is actually your personal income. I personally think there is a very good chance their will be no transfer of the debt without proving negligence.Originally posted by Bluebird View PostComment
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I disagreeOriginally posted by Bluebird View Post
Taken from here ...The liability for tax and NICs normally rests with the Personal Service Company or partnership.
Link to HMRCComment
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If your employer pays you money that you know hasn't had the correct amount of tax paid, are you then liable for that tax? I think you are. And as a director, you can't claim not to know.Originally posted by ASB View Post
Furthermore, if the money has been paid to you as dividends, then those dividends were paid from profit you didn't actually make (because you were subsequently found to be inside IR35). That doesn't suggest any wrong doing on your part, you paid dividends in good faith at the time, but that doesn't mean you have a right to keep them. If you have to repay dividends, then the company has enough money to pay the new tax bill. If you don't repay the dividends, but they're reclassed as income not actually coming from profit, then you're liable for the extra tax anyway. I suspect the latter is what HMRC would try.
Maybe. I doubt we'll ever know until somebody tries this defence.Will work inside IR35. Or for food.Comment
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Originally posted by Jubber View Post
ok, I stand corrected.
I guess from the links point of view your Ltd is the "intermediary" ?Cenedl heb iaith, cenedl heb galonComment
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