Hammond plans tax crackdown on 'synthetic self-employed' Hammond plans tax crackdown on 'synthetic self-employed' - Page 8
Page 8 of 8 FirstFirst ... 678
Posts 71 to 73 of 73
  1. #71

    Still gathering requirements...


    Join Date
    May 2010
    Posts
    96

    Default

    I realise there doesn't seem a lot of scope for remaining confident, with what's almost certainly ahead. But, I believe that people who are genuinely in business on their own account will adapt and do whatever we need to do to survive. We may be significantly worse off for a while. But personally, as someone who never works subject to another's supervision/direction/control, and won't do unless there's absolutely no choice - it's not *just* about the money.

  2. #72

    Super poster

    Hobosapien's Avatar
    Join Date
    Feb 2016
    Location
    LA - la la fantasy land
    Posts
    2,037

    Default

    Yes there will always be some positives about contracting but largely it depends on the role or nature of the contract. Some roles are better suited to being able to remain isolated from disguised employee status whereas others are almost guaranteed to be caught within IR35.

    So where the contract is more delivery of something tangible within a well defined timescale rather than to perform a role that mirrors others within the client's permie structure, you can be more confident that whatever the government comes up with you can remain independent in both nature of work and taxation.

    The difficulty is when the role/contract falls in a grey area where working practices are key and the goalposts can be changed retrospectively once in contract.

    Personally I'm going to weigh up the pros and cons of three avenues I see in front of me:

    1. Contracting via my Ltd that has been unofficially dormant this last year, or close it down. No plan B worthwhile me keeping it going if not using it for contracting. Closed there's less risk of IR35 investigation, no ongoing accountancy fees (that will likely increase with the looming Making Tax Digital changes), and can always open another one if worth going back to this method of operating.

    2. Continue contracting as a pseudo-employee of an umbrella company (presuming rules on that don't change soon ), with a rate higher than normally accepted to offset being inside IR35 as much as possible. Using the pension contribution (up to 40k per year) method of offsetting taxes on the way in feels good, but no idea what the taxes will look like on the way out when the time comes.

    3. Go full permie somewhere within commuting distance. No more working away during the week and can just go with the flow, taking my foot of the gas like many non-voracious permies do to pay the bills without all the corporate bollox to climb an imaginary career ladder.

    Then the decision is what role I want to continue working within that has both opportunity of work and a worthwhile typical rate. Having moved between various techy related roles over the years I at least aren't stuck with one.

    For those having similar thoughts, don't worry it'll be fine, the death of contracting has been predicted for decades.
    Last edited by Hobosapien; 20th October 2018 at 07:20.
    Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

  3. #73

    Fingers like lightning


    Join Date
    Nov 2011
    Posts
    846

    Default

    I think it being in a budget is fairly much a done deal, most probably this time round. I can then see a battle royale between HR and Accounts departments with HR wanting people outside and Accounts people inside to mitigate risk.

Page 8 of 8 FirstFirst ... 678

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •