IR 35 New legislation etc????
Discussion
Can anyone shed any light on the new legislation that’s been passed?
Basically the company that administers my company has overnight
told me and colleagues to change to their umbrella service.
They have said we are no longer entitled to dividends or to claim expenses.
Can anyone explain the new legislation to me as the company I’m using doesn't
seem to know it's arse from its elbow at the moment.
Basically the company that administers my company has overnight
told me and colleagues to change to their umbrella service.
They have said we are no longer entitled to dividends or to claim expenses.
Can anyone explain the new legislation to me as the company I’m using doesn't
seem to know it's arse from its elbow at the moment.
It's not an IR35 issue per se. Managed Service Companies have been told that they can no longer pay individuals as "shareholders" any more and must process their payments through the PAYE system.
IR35 applies to owner managed personal service companies.
IR35 applies to owner managed personal service companies.
Edited by Eric Mc on Tuesday 10th April 18:03
Eric Mc said:
Managed Service Companies have been told that they can no longer pay individuals as "shareholders" any more and must process their payments through the PAYE system.
Indeed, and hence wiping out the benefits of using one overnight - hence a rush of new companies incorporating.
However, those people who are quite happy being "perma-temps" will probably still us MSCs for the convenience but will see their take-home income fall as a result of everything going through PAYE/NI.
Gassing Station | Business | Top of Page | What's New | My Stuff