Question for those that have gone permie

[TheFaQQer]

I've seen a few people say that they have gone permie during the downturn, or are considering doing so.

Question I have is whether any of you still continue with PCG membership or some other kind of protection against an IR35 investigation. My worst case scenario would be to take a permie job and then get clobbered with an IR35 investigation just after I cancel my PCG membership, Qdos insurance etc. etc.

Do you still need to continue your coverage for another 6 years after you stop contracting? Or would the PCG still cover you for any investigation based on you being a member when the alleged offence took place?

[NotAllThere]

I remained a member after going permie, with the intent of remaining a member until 7 years were up.

[BrilloPad]

I doubt you will get any replies on here : any permies will have handed in their cuk username

[moorfield]

I doubt you will get any replies on here : any permies will have handed in their cuk username

should have


There are still some lurking around.

[Jeebo72]

Just close up your company. This won't preclude you from an IR35 investigation, but it makes it all the more unlikely.

[DimPrawn]

Just close up your company. This won't preclude you from an IR35 investigation, but it makes it all the more unlikely.

I recycle my ltd companies every few years.

Difficult to ask for a PAYE audit on a company that no longer exists.

[Andy2]

I recycle my ltd companies every few years.

Difficult to ask for a PAYE audit on a company that no longer exists.

isn't there any downside to it ?
you get whacked for extra tax when you take the dosh out
which you wouldn't ,if you keep the same company running .

[DimPrawn]

isn't there any downside to it ?
you get whacked for extra tax when you take the dosh out
which you wouldn't ,if you keep the same company running .

You can take all the money out via a dividend or do what I did and extract it out as a capital gain. Ask your accountant.

[Ruse]

isn't there any downside to it ?
you get whacked for extra tax when you take the dosh out
which you wouldn't ,if you keep the same company running .

It's called Phoenixing and if you do it regularly may well attract Hector's attention to you for the obvious reasons. I've done it once but for a genuine reason.

[DimPrawn]

It's called Phoenixing and if you do it regularly may well attract Hector's attention to you for the obvious reasons. I've done it once but for a genuine reason.

I've only done it 272 times.

So far so good.