Originally posted by northernladuk
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Have umbrella companies told their clients what their plans are after April?
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Originally posted by LisaContractorUmbrella View Post...regardless of what their intentions may have been when they initially signed upComment
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I got a call from my umbrella asking if I knew about Ltd Co options and I said I did and if I was going that route it would be to dump them and I wasn't interested.
Expenses isn't a significant issue for me; in fact I stopped with that last week, so whatever. I didn't go with an umbrella so I could claim expenses.Comment
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Originally posted by LisaContractorUmbrella View Postthat really made me chuckle!
They are unlikely to change their minds if that's what you mean - it's far more likely that they will introduce something else alongside all this at the last minute which will effectively stop or slow a mass migration to Ltd. If they don't, the loss to the Treasury could be significant - with PAYE paid at 95% of turnover through a Ltd, the flat rate scheme and the risk that contractors will decide to ignore IR35. Back of a fag packet calculations showed that they could lose an awful lot more money than the changes are going to bring in but if this is all just political paybe that doesn't matter. Who knows what HMRC will do but you can guarantee it won't be anything to make people better offThe greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by LisaContractorUmbrella View PostOnly if their current assignment is the only one that they've had with the brolly regardless of what their intentions may have been when they initially signed up'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by LondonManc View PostIf the opposite were to happen and Ltd contractors were all forced through umbrella (because we reach a point in hector's tax edicts whereby the hassle involved with Ltd generates very little cash benefit over umbrella) then it would be equally disastrous for the incumbent Chancellor, having to explain why so many British companies are shutting down. Very poorly thought through; clearly a tactical cash grab exercise rather than anything strategic.Comment
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Originally posted by northernladuk View PostOuch! So the new guys are going to be totally screwed either way? I wonder how many of them realise this right now?Comment
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Originally posted by LisaContractorUmbrella View PostWe have told our workers and I am pleased to say there has not been a mass exodusComment
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Originally posted by LisaContractorUmbrella View PostCouldn't agree more - would have made much more sense for HMG to actually address the problem - according to HMRC far more people than they originally intended now claim tax relief on T&S due to mass moves of low paid workers from permie employment to umbrella companies. This is because IMHO employment costs are getting cripplingly high for companies who operate on a low profit margin (due to demand for low priced goods and services). It would have made much more sense to put in place a threshold under which employers can't transfer workers to an intermediary - this would solve the perceived problem and protect low paid workers. IMO it's a logical move but HMRC and HMG are not famed for their logicThe greatest trick the devil ever pulled was convincing the world that he didn't existComment
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