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  1. Replies
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    I'll be foreign clients only. UK clients can...

    I'll be foreign clients only. UK clients can wait. Once GSK showed that HMRC is being given lists of contractors I said forget it.

    But it's not the guys who will work with overseas clients that...
  2. Sounds like you only have three issues left: 1....

    Sounds like you only have three issues left:
    1. Figure out the value of the shares at the time you receive them.
    2. Avoid getting through HMRC's idiot AI system so that you don't get barmy advice...
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    1. If you don't want the Dec contractor absence,...

    1. If you don't want the Dec contractor absence, and the work justifies it, you could make the pitch, "Sorry, this new training contract shouldn't be on a contractor absence, we only have until Feb...
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    Work to its advantages, yes. Break the law and...

    Work to its advantages, yes. Break the law and then run to bankruptcy, no, that's not business. I have overheads, I have employees. That doesn't give me the right to take money out of the company...
  5. The difference being that the money that you've...

    The difference being that the money that you've got as being taxed at higher div tax rate will likely leave in one of two cases -- next year when he is on the bench, or when the company is wound up....
  6. Thanks for the answers. Parts of this are very...

    Thanks for the answers. Parts of this are very relevant to me currently on two different situations, and one historically.

    From what OP says, it seems unlikely that there will be a UK permanent...
  7. I'd have to go back and look at the calculation...

    I'd have to go back and look at the calculation again, but I don't think so. My PA was mostly taken up with covering salary and BIKs.
  8. Replies
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    So, you took money out of your company that...

    So, you took money out of your company that should have been left in it to pay the Corporation Tax. You've spent that money one way or another.

    So, apparently, you issued illegal dividends to...
  9. It's possible their own systems do it wrong, of...

    It's possible their own systems do it wrong, of course. :D
  10. I went back and checked my self-assessment tax...

    I went back and checked my self-assessment tax calculation on HMRC's website. Due to an unexpected dividend that rolled in from a small private shareholding in a foreign company on 3 April, I went...
  11. Am not familiar with 83(b) but the language he...

    Am not familiar with 83(b) but the language he used sounded like RSU.

    My A), B), and C) were OR, not AND, options. He could leave the shares in the company (which has the ramifications you...
  12. Replies
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    Unless you have something in the works, I would...

    Unless you have something in the works, I would ask for a new contract now. I wouldn't bother with fixed price, the client won't get why you are doing that. Same price, same agent, but new contract...
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    1. If anyone was going to be encouraged to follow...

    1. If anyone was going to be encouraged to follow the Winchester line, the fact that they settled with full payment would have provided all the encouragement they needed.

    2. If 100,000 contractors...
  14. Well, now, this is interesting. That HMRC page...

    Well, now, this is interesting. That HMRC page has changed. How do I know? I found an article that linked to it and quoted from it, specifically in regard to the sixth example. How the new...
  15. If it is a US company, "vested" probably means...

    If it is a US company, "vested" probably means this. That seems to be the most common usage of the term on that side of the pond.


    Not necessarily. You can A) leave them in your company B)...
  16. Replies
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    Yes, it costs some money to shut it but you can...

    Yes, it costs some money to shut it but you can probably claim ER and so pay only 10% tax on the capital distribution.
  17. NOTE: the dividend allowance is no longer £5K, it...

    NOTE: the dividend allowance is no longer £5K, it was reduced to £2K. Otherwise, as above. OP got it right but TCP, who is always right about everything, used £5K without clarifying that. :D
  18. Replies
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    To be clear, the only thing that possibly could...

    To be clear, the only thing that possibly could have been established in case law is that a mid-contract 'inside' determination can confer employment rights. That's the most that the case would have...
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    Not sure why you'd say that. I could easily see...

    Not sure why you'd say that. I could easily see someone telling him, yes, you'll be outside, and then come March someone in HR or Legal gets nervous and down comes the inside determination.
  20. Replies
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    This was my thought, too. And I also thought...

    This was my thought, too. And I also thought that if it 'smells off' as you acknowledged (and I also detected an odour when you mentioned it), then someone could come along 3-4 years from now,...
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    You are partly correct, but only partly. You are...

    You are partly correct, but only partly. You are talking about what is known as Mutuality of Obligation. It is one of the three pillars of IR35/Employment vs Self-Employment case law.

    There are...
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    If you have a break of more than a month it...

    If you have a break of more than a month it probably helps to argue it's a different engagement. If you want a holiday, take one before starting the new perm role.

    I think your risk is really low...
  23. Replies
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    That's cool, it's your money. I'd at least ask...

    That's cool, it's your money. I'd at least ask them for a discount since HMRC has never tried the thing you are insuring against.
  24. Inside or outside? :D

    Inside or outside? :D
  25. Replies
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    LOL. I could argue it's not 'prudent' to waste...

    LOL. I could argue it's not 'prudent' to waste money on unnecessary insurance for a risk that has never materialised for anyone ever. Who's 'prudent'? :D

    If I were in your shoes, I'd be asking...
  26. Replies
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    Ok, so they are telling you to keep paying them...

    Ok, so they are telling you to keep paying them premiums after your company is closed. That works well for them. :D

    There's no evidence this is necessary. It does provide you protection in case...
  27. For the things the average contractor has to deal...

    For the things the average contractor has to deal with, VAT is very straightforward, with clear rules. IR35 is not straightforward, which is why we have to get contract reviews, and there is so much...
  28. Replies
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    I'd get on the phone to MVL Online today, tell...

    I'd get on the phone to MVL Online today, tell them about the notice account. The process takes a while anyway, so you may not need the funds to clear before a lot of stuff can be done.

    Probably...
  29. This ignores the following facts: 1. IR35 is not...

    This ignores the following facts:
    1. IR35 is not clearly defined in law such that one can say, 'Here's all the evidence, bang, game over, go away.' It is possible for HMRC to take a different view...
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    Your insurance provider? Your MVL provider? ...

    Your insurance provider? Your MVL provider? What provider?
  31. Replies
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    I suppose. I'd be of the view that if you've had...

    I suppose. I'd be of the view that if you've had contract reviews that the risk, once your company is closed, is nil. The risk of HMRC chasing a closed company for IR35 is virtually nil -- it's...
  32. Replies
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    I know people say that, but one wonders if it has...

    I know people say that, but one wonders if it has ever been needed or if it is just a nice little money spinner for IPSE....
  33. Replies
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    It's been discussed a lot here, and that document...

    It's been discussed a lot here, and that document has been linked here before.

    The real question, of course, is how comfortable you would be.

    Personally, I'd feel very comfortable. A normal...
  34. Replies
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    If you get the company closed you probably won't...

    If you get the company closed you probably won't need it, especially if you used them for contract reviews.

    The risk is HMRC starting an investigation of you before it is closed and not letting...
  35. Replies
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    'The reform is not retrospective' -- no, of...

    'The reform is not retrospective' -- no, of course not, but that doesn't mean that what clients do will not inform HMRC's view of historical cases.
    'will not automatically trigger' -- no, of course...
  36. The draft legislation appears to suggest that it...

    The draft legislation appears to suggest that it is still the responsibility of the client, even though foreign.

    It gives no indication of how they think this will be workable / enforceable.
    ...
  37. Never thought about this before, but what if you...

    Never thought about this before, but what if you are paying a sole trader as a subcontractor?
  38. If you are just looking for savings that you...

    If you are just looking for savings that you won't spend, put money into a pension and save on Corporation Tax.

    To be clear, you could be taking dividends up to the higher rate threshold and...
  39. Oh, they aren't lying. They also aren't telling...

    Oh, they aren't lying. They also aren't telling you what happens if Barclays goes out of business, are they?

    If any group like this has anyone with brains behind it, they will be telling you that...
  40. Replies
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    That may have been to what YOU were referring,...

    That may have been to what YOU were referring, but it isn't what I had in mind.
  41. Replies
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    I'm not a lawyer but that accurately reflects...

    I'm not a lawyer but that accurately reflects what I think.

    I spent decades in management on the client side. The average client decision-maker probably doesn't know whether equality law is valid...
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    :confused:

    :confused:
  43. Replies
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    I don't think I'd count on extreme boredom,...

    I don't think I'd count on extreme boredom, induced by endless blathering about ETs, as an effective defence, but to each his own.
  44. Replies
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    Precisely. It's impossible to enforce unless...

    Precisely.

    It's impossible to enforce unless they are stupid enough to give the game away as to why they decided not to give you the contract, or as to why they are letting you go. Even inside...
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    I'm not sure this sentiment is any more...

    I'm not sure this sentiment is any more appropriate than the other. OP is presumably looking for professional advice, not support or sentiment. It would be nice, for once, if we could try to keep...
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    No, it wouldn't be. What insurer wants to get...

    No, it wouldn't be. What insurer wants to get dragged into a US tort situation? You'll pay for it. One of the reasons I refuse to sign US law contracts.
  47. Yes, you might get a good accountant for £20 /...

    Yes, you might get a good accountant for £20 / month less. You might also get a dud. I always wondered why contractors who make somewhere between £400-1000 / day would quibble about a difference of...
  48. Somebody said thank you to him. Let him enjoy...

    Somebody said thank you to him. Let him enjoy it. :D
  49. If Barclays goes out of business, are you...

    If Barclays goes out of business, are you protected by FSCS, or not? Is the money in a Barclays account in your name, or in Coconut's? Is £85K of your money protected, or £85K of Coconut's (spread...
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    You're just trying to get it moved to General so...

    You're just trying to get it moved to General so you don't get banned. :p
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