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The Clubhouse Bar
A Political Thread pt. 2
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<blockquote data-quote="Bada-Bing!" data-source="post: 1056144" data-attributes="member: 70552"><p>Just revising through this now, IR35 for anyone who doesn't know is designed to stop workers inserting a company between themselves and the employer and get paid Gross, put it through the company, claiming deductible expenses CT at 19%. They Then extract the profit from the company via a small salary < their personal allowance/NIC threshold, and rest as as a dividend and pay lower income tax rates and no NIC.</p><p></p><p>IR35 before was a waste as it put the onus on the worker to determine whether they were caught. Well what a surprise - most decided it didn't apply, so now HMRC are just putting the onus on the public authority or private sector who employ them and make sure they charge them PAYE and NIC. Doesn't just apply to Lorry drivers, but other sectors as well.</p></blockquote><p></p>
[QUOTE="Bada-Bing!, post: 1056144, member: 70552"] Just revising through this now, IR35 for anyone who doesn’t know is designed to stop workers inserting a company between themselves and the employer and get paid Gross, put it through the company, claiming deductible expenses CT at 19%. They Then extract the profit from the company via a small salary < their personal allowance/NIC threshold, and rest as as a dividend and pay lower income tax rates and no NIC. IR35 before was a waste as it put the onus on the worker to determine whether they were caught. Well what a surprise - most decided it didn’t apply, so now HMRC are just putting the onus on the public authority or private sector who employ them and make sure they charge them PAYE and NIC. Doesn’t just apply to Lorry drivers, but other sectors as well. [/QUOTE]
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The Clubhouse Bar
A Political Thread pt. 2
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