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  1. Yes, before going that way you'd want to be...

    Yes, before going that way you'd want to be pretty confident of your liability situation.
  2. While you're at it, take a few minutes to figure...

    While you're at it, take a few minutes to figure out how you could justify that £12.5K salary for the lady. Even I've not gone that far, and my wife does payroll / bookkeeping for multiple...
  3. Thread: IR35 Myths

    by WordIsBond
    Replies
    48
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    11,788

    Sticky: A few thoughts on some of the discussion on MOO...

    A few thoughts on some of the discussion on MOO above. As Mal has rightly stated, the test is "an irreducible minimum". In other words, to be inside IR35 there has to be at least the minimum level...
  4. Replies
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    Thanks Craig. Hadn't thought through the NIC...

    Thanks Craig. Hadn't thought through the NIC factor very well, and should have. It's a moot point for us.
  5. Ah, makes sense. My first question was, why not...

    Ah, makes sense. My first question was, why not just make the pension contribution from Your Ltd direct into her pension as an employer contribution? Cuts out a step....

    My answer to my question...
  6. One scenario in which it matters. Suppose you...

    One scenario in which it matters.

    Suppose you think there is enough IR35 risk to make you a little nervous. Suppose the legislation places entire responsibility on your client and none on you,...
  7. Replies
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    2,129

    I have grandchildren in 3 different countries and...

    I have grandchildren in 3 different countries and hoping for four. I want to retire rich enough to see them all every year, and if I die early, I'm glad I'm leaving them something. State won't...
  8. Advisor says, 'I've talked to all your...

    Advisor says, 'I've talked to all your competitors and if you all work together to stick it to your suppliers / contractors, then you'll be in the clear and probably won't lose anyone.' That's...
  9. If they target your client, the liability isn't...

    If they target your client, the liability isn't yours anyway. The risk is that the client changes its determination in response to HMRC investigation / pressure. If that happens, you'll have to...
  10. Replies
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    2,129

    This is a load of tosh, but you probably don't...

    This is a load of tosh, but you probably don't want to know why. If you do, let me know and I'll answer it, but I'm really only answering for anyone else who might be reading it and confused by what...
  11. Legislation isn't out yet. Of course they aren't...

    Legislation isn't out yet. Of course they aren't budging. They don't even know for certain what the rules will be.

    If you are a specialist someone is going to need it sometime badly enough to...
  12. I doubt that anyone who does what I do will do it...

    I doubt that anyone who does what I do will do it cheaper, or via payroll. I'm in a very narrow niche but there's hardly anyone doing it and none of the others have people working for them who can...
  13. I'm confused. Is your spouse paid a salary or...

    I'm confused. Is your spouse paid a salary or not? One statement says yes, another says no.

    Are you proposing that spouse pays the contributions next year, or that your company pays them, up to...
  14. Replies
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    903

    Great post, Craig, thanks. Now a question. Is...

    Great post, Craig, thanks. Now a question.

    Is my idea of paying himself £2K salary and then a £2K dividend sound? That would also cost him £400 but give savings on CT, wouldn't it?

    It's not...
  15. If HMRC were run on sane principles, they would...

    If HMRC were run on sane principles, they would say, 'This would be a tough target because they are obviously thinking through these decisions.' But when we look at the IR35 cases that have gone to...
  16. Extensive further discussion here:...

    Extensive further discussion here:
    https://www.contractoruk.com/forums/accounting-legal/136136-determining-ir35-status-eu-clients.html
  17. The draft legislation as we know it puts the...

    The draft legislation as we know it puts the liability with the overseas client. There is no mechanism for them to enforce it if the overseas client has no presence in the UK. They might gain the...
  18. For the current projects, people staying put is...

    For the current projects, people staying put is fine. What happens when they need to do something which requires specialist skills that they don't have? They'll have to get some specialist in. Oh,...
  19. Replies
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    937

    Well, if all anyone wants is trackers (passive...

    Well, if all anyone wants is trackers (passive investing), it's not bad. There are trackers and there are trackers, but most in general a FTSE-100 tracker from Vanguard is as good as one from...
  20. Are you telling me that all these women who have...

    Are you telling me that all these women who have been saying for so many years how much they like mine were lying? :eek
  21. And, question 2. If the client weren't going to...

    And, question 2. If the client weren't going to give an SDS, why would you not extend, however long you've been there? Not sure I understand the question.

    The risk of staying comes from the...
  22. Other targets (IMO only): 1. Large clients who...

    Other targets (IMO only):
    1. Large clients who are offering lots of outside determinations. Because the proceeds will be hefty and the deterrent factor will be significant.
    1. A. Large clients who...
  23. No one knows. I think it probably doesn't...

    No one knows. I think it probably doesn't increase your risk. The one argument to the contrary is that if you accept an extension, even for one month, after they've issued an SDS, HMRC could then...
  24. I always have concurrent contracts running so am...

    I always have concurrent contracts running so am always on an hourly rate. Hourly or daily, what's it matter? I also use a retainer system.

    There can be many factors in a contract that put you...
  25. I see companies rethinking their PSC bans...

    I see companies rethinking their PSC bans eventually anyway. Maybe not all of them but they are going to need resources for projects which they can't staff in-house, and the time will come when...
  26. Replies
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    Send this to the House of Lords as an example of...

    Send this to the House of Lords as an example of the kind of bottom-feeders this 'reform' is empowering. There will be people who will fall for this out of fear of what the Treasury is doing, and...
  27. I actually might....

    I actually might....
  28. Replies
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    3,456

    I'm always right.

    I'm always right.
  29. Replies
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    937

    It appears to me that you cannot invest in...

    It appears to me that you cannot invest in individual shares, investment trusts, or non-Vanguard funds, within either their SIPP or their ISA. Is that correct?
  30. Replies
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    Doesn't his first paragraph answer this?

    Doesn't his first paragraph answer this?
  31. Was this expert an international tax expert, or...

    Was this expert an international tax expert, or an IR35 expert, or an employment law expert?

    The last sentence makes me doubt that he's an international tax expert. If you are living and working...
  32. Replies
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    I now anticipate this thread going completely...

    I now anticipate this thread going completely pear-shaped.
  33. Replies
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    Nice try, but that's only one fact, and NLUK...

    Nice try, but that's only one fact, and NLUK dumped loads of them on us. His might not have been as important or relevant as the facts in my earlier comment, but we can't deny that he did bring the...
  34. If the client is intending to rely on that with...

    If the client is intending to rely on that with HMRC, they have a nice surprise coming.

    The liability to HMRC rests with the client / fee-payer, and no contractual provision can override that. ...
  35. Replies
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    This. Anything else is going to just end up in...

    This. Anything else is going to just end up in pain.

    Your agency probably can't release you even if they wanted to (they don't) because their contract with the other agency probably doesn't allow...
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    It is definitely good to have a new contract. ...

    It is definitely good to have a new contract. That helps demonstrate lack of SDC, they couldn't move you to this new task without a new contract. That's a win for both the new contract and your...
  37. This. The contractor has already paid...

    This.

    The contractor has already paid corporation tax and dividend tax and is unable to reclaim them, at least in full. So there's no scenario in which it would be just or appropriate for him...
  38. Replies
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    This goes back and forth. If you paid yourself a...

    This goes back and forth. If you paid yourself a £4K dividend, would you get 2K at 0% (the first 2K) and 2K taxed at 32.5% (the last 2K)? Or would you get 2K at 7.5% and 2K taxed at 0%?

    If I...
  39. It is hard for me to see in what way the client...

    It is hard for me to see in what way the client could get in trouble. They've entered into a business-to-business relationship with a company that happens to be in the UK, but they have no presence...
  40. I've yet to be convinced that the current lot can...

    I've yet to be convinced that the current lot can even manage a budget in a few weeks time. But if they do, not sure they'll manage anything new. Expect a consultation to be announced and nuke it...
  41. Replies
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    To be fair, this is now the most factually...

    To be fair, this is now the most factually correct post on this thread so far. But I had a nice run going there for a while.
  42. Replies
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    No, this is a bad assumption. If you were...

    No, this is a bad assumption. If you were inside, YourLtdCo should have been operating PAYE taxes and sending them to HMRC. If YourLtdCo didn't do that, YourLtdCo owes HMRC money.

    So HMRC won't...
  43. This, in spades. If they start talking about...

    This, in spades. If they start talking about risk counter with how much risk they are asking you to take if they insist on inside, and you can't do that.

    Also, risk can be mitigated. I believe...
  44. Replies
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    I don't see how HMRC is going to connect the dots...

    I don't see how HMRC is going to connect the dots between role one and role two. You were a contractor working through an agency for a client (the consultancy). HMRC will know you were working...
  45. I still think their first target will be clients...

    I still think their first target will be clients who give outside determinations.

    Simple maths. How much money comes in if they manage to win a case against a contractor who was outside at...
  46. Replies
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    Sounds like a formula to turn one insane. In...

    Sounds like a formula to turn one insane.

    In brief, there's no absolutely no reason to form a Ltd if you are going to be inside. There might be reasons for someone who already has a Ltd to keep...
  47. With HMRC (or government in general) never...

    With HMRC (or government in general) never conflate intent with result. 'Tis almost a requirement of the laws of nature that these things will differ when government acts, and especially when tax...
  48. IR35 does not apply. If this contract is...

    IR35 does not apply.

    If this contract is likely to last long, you should give some serious consideration as to whether or not you would be outside if you did form a limited company. If you...
  49. Replies
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    For me, at least three times as much as you,...

    For me, at least three times as much as you, because I'm worth at least three of you. :p
  50. Replies
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    My view, FWIW, is they will want to spend...

    My view, FWIW, is they will want to spend resource targeting clients who give outside determinations. Why? Human nature.

    Right now, most clients are doing what they want, but not all. That...
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