The official Budget 2017 DOOM thread

[northernladyuk]

And watch UK PLC grind to a halt...

It's coming but I don't think it will be here in April...

Contracting in Ireland basically works as if 'Inside IR35', in that there is no advantage to CT + divis vs payroll. Works OK, once you accept eye-watering marginal tax rates above €34k.

What would happen in the UK, is that a lot of contractors who had previously been enjoying low taxes on high incomes would have to suck up high taxes, and many would move to brollies. Joe Public would be pleased enough, so I think it is inevitable once HMRC has if figured out.

A few more enterprising UK contractors will find different models of working - fixed prices etc.

[Mordac]

Contracting in Ireland basically works as if 'Inside IR35', in that there is no advantage to CT + divis vs payroll. Works OK, once you accept eye-watering marginal tax rates above €34k.

What would happen in the UK, is that a lot of contractors who had previously been enjoying low taxes on high incomes would have to suck up high taxes, and many would move to brollies. Joe Public would be pleased enough, so I think it is inevitable once HMRC has if figured out.

A few more enterprising UK contractors will find different models of working - fixed prices etc.

I already do, all my private stuff is fixed price, but best of luck selling that idea to the agencies.

[AtW]

If they can find a way of actually forcing companies to do it, it's a game-changer.

Easy - just like with PS make companies responsible for any tax due in case contract was "in", everybody would prefer to use risk averse approach, system wide change, so all in the same boat.

This pro-business Conservative Government will certainly kill contracting for good.

[northernladyuk]

I already do, all my private stuff is fixed price, but best of luck selling that idea to the agencies.

Hence the words:

A few more enterprising UK contractors

Agencies won't be in the mix for that work.

[PurpleGorilla]

Resistance is futile...

[Mordac]

Hence the words:



Agencies won't be in the mix for that work.

Then it's bye-bye time for a few agencies, is it not?

[northernladyuk]

Then it's bye-bye time for a few agencies, is it not?

I think it's a very small section of current contract work.

[DimPrawn]

They will go for easy targets.

Self employed NI up 3%
IR35 rules extended to private sector
Fiscal drag on tax brackets
Fuel duty up on diesel and increased road tax for diesels
Wine duty up

It will be a very long list of tax rises I'm sure...factor in Article 50 I see parity with the USD by the end of next month.

[d000hg]

Kebabs going to a tenner due to "business rates" increases

Looks like on Wed we will onky get tax increases with Brexit being used as excuse

No, as a reason.

The only thing better than a tax increase is one that targets contractors*. It's the new political consensus, completely invariant to political party or state of the economy. HTH.





*Tax dodging scumbags

Sorry babe but you're really not as important as you like to think Contractors are not a huge point for the government otherwise we'd see more rules specifically targeting us rather than rules that catch us in the crossfire.

[northernladyuk]

They will go for easy targets.

Self employed NI up 3%
IR35 rules extended to private sector
Fiscal drag on tax brackets
Fuel duty up on diesel and increased road tax for diesels
Wine duty up

It will be a very long list of tax rises I'm sure...factor in Article 50 I see parity with the USD by the end of next month.

Tax dividends the same as earned income.