Inside IR35 - keeping LTD Inside IR35 - keeping LTD - Page 3
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  1. #21

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    Quote Originally Posted by eek View Post
    Discussed back in December and earlier this week at https://www.contractoruk.com/forums/...-payeworx.html

    And there will be a lot of these type of schemes. There is a lot of money to be made from unaware agencies and contractors at the moment.
    Thanks this is interesting - this looks (as quite a few people have observed) like the source of the next loan charge style fiasco.

  2. #22

    Some things in Moderation

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    Quote Originally Posted by Peoplesoft bloke View Post
    Thanks this is interesting - this looks (as quite a few people have observed) like the source of the next loan charge style fiasco.
    You’d better believe it.
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
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  3. #23

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    Quote Originally Posted by cojak View Post
    You’d better believe it.
    Oh it will be... People are greedy and the problem is outlined in this post from Friday in the Scheme Enquiry forum alongside my reply which explains the leap that most people don't grasp..

    Quote Originally Posted by Hobo View Post

    It was my agency paying them my money!!
    Quote Originally Posted by eek View Post
    Thanks for the post though as it explains to me why people fell for the schemes and why I instantly ran away from them.

    Although it's hard to believe when you are in a scheme the first thing you do on entering a scheme is sign away the fact the money you earn is yours.

    Because of the agreement you made with the scheme, the agency pays the scheme (not you) the money for the work you did. Due to that agreement that money wasn't yours, it was theirs and some of it was then paid to you as salary, the rest was then put into a trust and from there passed to you...
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  4. #24

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    If you are working on a a contract for a small company who haven’t had to make a determination but you’ve assessed it as IR35 then wouldn’t you still use the deemed payments calculation? My understanding was that if you’re working for a small company then nothing’s changed.

  5. #25

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    Quote Originally Posted by Pring View Post
    If you are working on a a contract for a small company who haven’t had to make a determination but you’ve assessed it as IR35 then wouldn’t you still use the deemed payments calculation? My understanding was that if you’re working for a small company then nothing’s changed.
    Why would a small company make a determination - unless they are supplying you to a large company...
    merely at clientco for the entertainment

  6. #26

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    Quote Originally Posted by eek View Post
    Why would a small company make a determination - unless they are supplying you to a large company...
    They wouldn’t, so the determination still lies with the worker/PSC. The small company pays gross and the PSC makes deemed payment.

  7. #27

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    Quote Originally Posted by Peoplesoft bloke View Post
    Thanks I was beginning to think it was me - how can people not grasp this simple stuff?
    Wait until you see the clients not understanding this simple stuff and then maybe it will have a wider context.

  8. #28

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    Quote Originally Posted by eek View Post
    Oh it will be... People are greedy and the problem is outlined in this post from Friday in the Scheme Enquiry forum alongside my reply which explains the leap that most people don't grasp..
    And I notice that everyone has chosen to ignore your post and that rather inconvenient fact.
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
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  9. #29

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    Quote Originally Posted by cojak View Post
    And I notice that everyone has chosen to ignore your post and that rather inconvenient fact.
    People do have a habit of completely ignoring their own historic mistakes all I can do is hope that posting it here ensures a few people think and don't join such schemes.

    As for that HMRC scheme enquiries thread - I think people are ignoring everything and anything anyone says and rather than calming down and thinking they are often (angrily and accidently) creating far bigger messes for themselves down the line...
    merely at clientco for the entertainment

  10. #30

    Some things in Moderation

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    The issue is that where money is concerned, people can believe two opposing views, both at the same time, when it should be one or the other.

    Quantum finance*, if you like.

    See this for instance https://www.contractoruk.com/forums/...ml#post1062346

    Really, what can you say?


    *TM cojak
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

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