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IR35 under the Tories

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    IR35 under the Tories

    Tories have said that they would look to simplify tax legislation, and will look at IR35 as part of doing that.

    If they "simplify" the tax system so that everyone is essentially classed as the equivalent of being inside IR35 now, do you think that would be better or worse?

    Poll to follow.
    23
    Yes - the worry of being in or out would be removed.
    13.04%
    3
    No - I'd be paying more money.
    69.57%
    16
    Andyw
    17.39%
    4
    Last edited by Contractor UK; 7 October 2011, 12:11.
    If you have to add a , it isn't funny. HTH. LOL.

    #2
    Does anyone really worry about IR35? I have insurance through QDOS that should cover me for every eventuality, I'd rather pay £500 pa for that than a few £K more in tax.
    ǝןqqıʍ

    Comment


      #3
      Originally posted by The Wikir Man View Post
      If they "simplify" the tax system so that everyone is essentially classed as the equivalent of being inside IR35 now, do you think that would be better or worse?
      Huge assumption that, isn't it?
      Older and ...well, just older!!

      Comment


        #4
        Originally posted by DiscoStu View Post
        Does anyone really worry about IR35? I have insurance through QDOS that should cover me for every eventuality, I'd rather pay £500 pa for that than a few £K more in tax.
        I don't for the same reason.

        The reason that I ask the question is that for some time, there has been a view that if the Tories get in, everything will be rosy because they would scrap IR35. They have now pledged to "review" is, which is somewhat different.

        If they scrap IR35, then they need to replace the money from somewhere, and I'd guess that it would mean the equivalent of NICs or a higher tax on dividends.

        If the Tories came out and said that this is what they meant, would that alter your voting intentions at all?
        If you have to add a , it isn't funny. HTH. LOL.

        Comment


          #5
          Originally posted by ratewhore View Post
          Huge assumption that, isn't it?
          It's a hypothetical question, not an assumption.

          IF they "clarified the legislation" so that everyone was paying a different rate of tax (equivalent to forcing you inside IR35 under the current regime), would you be happy?
          If you have to add a , it isn't funny. HTH. LOL.

          Comment


            #6
            Originally posted by The Wikir Man View Post
            Tories have said that they would look to simplify tax legislation, and will look at IR35 as part of doing that.

            If they "simplify" the tax system so that everyone is essentially classed as the equivalent of being inside IR35 now, do you think that would be better or worse?

            Poll to follow.
            ??? What's that got to do with IR35 under tories? How do you know that's what the intend to do?

            The question is: If ANY PARTY "simplify" the tax system so that everyone is essentially classed as the equivalent of being inside IR35 now, do you think that would be better or worse?

            Which as no party has said they plan to do is a completely pointless question.

            Comment


              #7
              Originally posted by The Wikir Man View Post
              If they scrap IR35, then they need to replace the money from somewhere, and I'd guess that it would mean the equivalent of NICs or a higher tax on dividends.
              The last I heard was that due to the low number of successful cases the actual tax gain from IR35 was very very low. More use as a stick to beat us than a useful tax method,unless of course you are one of the frightened muppets who pay up without a fight

              Comment


                #8
                Personally I think all UK contractors should be allowed to pay 0% tax.

                Its a radical idea but I'm convinced it will do a lot more to lift the economy out of the tulipe its now in than the waffly propositions we have from any of the parties.

                Comment


                  #9
                  Where's the "not bothered - I would simply rearrange my affairs so that I continue to pay the amount of tax I choose to" option?

                  Comment


                    #10
                    Originally posted by Benny View Post
                    The last I heard was that due to the low number of successful cases the actual tax gain from IR35 was very very low. More use as a stick to beat us than a useful tax method,unless of course you are one of the frightened muppets who pay up without a fight
                    I think it just frightens some people into paying needlessly. I know some contractors, who rather than take any risks, pay themselves as inside IR35. So HMRC get an easy overpayment!

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