Nothing for people with trading profits above 50k
Contractor Among Contractors
Nothing for people with trading profits above 50k
Super poster
Anyone else catch the inference that the self-employed will pay more tax in the future? Was all over in a second but he definitely said it.
...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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On average, presumably?Originally Posted by PerfectStorm
Banking contractors are not covered but lots of IT freelancers will be inside that level.
What's not clear is whether they consider a PSC to be self employment or not. Lots of people who are genuinely self employed, tradesmen etc, choose to work through a LTD for various reasons.
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Should post faster
Did I mis-hear... people not covered are on £200K a year?
m
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We'll they already deferred the IR35 thing. Maybe we're heading for simpler "tax on what you earn" major reform
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Should post faster
Are you a limited company?
If so this doesn't apply to you anyway as you aren;t "self-employed" in the defintion here.
You are a PAYE employee with dividend income - so you come under the other scheme - but of course as a director you can't furlough yourself
My post count is Majestic
Are you certain this has been clarified? The terminology is used in various ways
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Nervous Newbie
Jeez...screwed all round
Those earning above £50k are on average earning £200k......
Expect to pay more tax in the future........
Higher rate tax payers screwed now and even more in the future
Still gathering requirements...
Very strong hint of tax/NI reform coming in the future.
Super poster
Clearly sowing seeds to use this as an excuse to screw the self-employed with tax-rises in the coming years...not just "PSCs" but sole traders too from the sounds of it.
What exactly is the "big inconsistency" between a sole trader and somebody on PAYE? Lack of employer's NIC? The ability to offset genuine expenses against tax?
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