Victory is close on IR35 - happy days

[ladymuck]

AndyC live on parliament channel select committee now

BBC iPlayer- rewind time 9.38am


Sent from my iPhone using Contractor UK Forum

Interesting session. Some good suggestions that hopefully the committee will take notice of

[malvolio]

Word is that MPs are finally beginning to understand what a crock of beans HMRC and HMT have been selling them for the last few years. Obvioulsy (at least, obvious if you understand the lobbying world a little!) is that nothing can be said positively until there is full agreement, and then only HMG can say it. So let's not get excited yet.

As for divis, you would be surprised how many high value companies are ultimately owned by very small numbers of people (look at Philip Green's little empire for one example, which is owned by his wife out in Monaco. We don't really need any more like that, if the idea is to stop tax avoidance). Blanket rules on how to tax dividends based on shareholding risk major impacts, so may well not be taken on.

[jamesbrown]

MPs are finally beginning to understand what a crock of beans HMRC and HMT have been selling them for the last few years.

Oh wait, you were being serious?

[malvolio]

Oh wait, you were being serious?

Sadly, yes. The evidenced work by various groups looks like beginning to take root. AC's work at the Lords committee is one very good example of the level of influence he and others carry these days.

[Old Greg]

I think there should be a means to identify whether divis came from the business you own and run, or pure investment.

Taxation and company directors | Deloitte Ireland | Deloitte private

[jamesbrown]

Sadly, yes. The evidenced work by various groups looks like beginning to take root. AC's work at the Lords committee is one very good example of the level of influence he and others carry these days.

In a strong majority gov't, MPs do precisely what they're told on all but the most controversial/disliked issues. There is literally no way HMG is softening its opinion on "false self employment", especially under current circumstances. If it isn't IR35 in the private sector, it will be something worse, at least taxwise (I will concede that it might just be better overall, but HMG has a long history of choosing complex and stupid when simple applies).

[Old Greg]

Taxation and company directors | Deloitte Ireland | Deloitte private

One of the advantages of the Irish approach is that it is easily understood by the public at large. As a proprietary director, I'm taxed just like a sole trader plumber. It feels right to the public, when compared to paying yourself a minimum wage and then making a profit subject to CT and taking divis at a special tax rate.

[jamesbrown]

One of the advantages of the Irish approach is that it is easily understood by the public at large. As a proprietary director, I'm taxed just like a sole trader plumber. It feels right to the public, when compared to paying yourself a minimum wage and then making a profit subject to CT and taking divis at a special tax rate.

An example of a simple approach the HMG will definitely not choose.

[Old Greg]

An example of a simple approach the HMG will definitely not choose.

I remember suggesting this a decade ago on this very forum (before I knew it was the Irish model) and people associated with the PCG were too wedded to the divis model. If PCG had had the common sense to promote this then (and TBF, perhaps they did and I missed it), then maybe things would have landed differently.

[ladymuck]

I remember suggesting this a decade ago on this very forum (before I knew it was the Irish model) and people associated with the PCG were too wedded to the divis model. If PCG had had the common sense to promote this then (and TBF, perhaps they did and I missed it), then maybe things would have landed differently.

Times change and people move on.

Lots of scientific stuff starts with one crazy person in a corner until everyone else catches up a decade or so later...