Sounds like now that the governments finished destroying the UK IT industry they've decided to move onto the construction industry next in their effort to totally destroy the UK economy!
I think when this lot have been booted out (I got all excited when someone mentioned a hung parliament but apparently we're not allowed to hang them) the conservatives are going to have to do an awful lot of unraveling of the past 13 years of financial incompetence... Fingers crossed IR35 will be the first thing for the chop.
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Just read a quick bit of it as I have one client in that trade (only small Sole Trader), what a load of rubbish, the small sole traders move about from one job to another anyhway. They should catch up with those who do NOT do their CIS instead!!!!!
I did know of someone who in the space of a year used 10 subbies and not one of them was CIS reg nor was the person who used them, so hence NOT paying the 20%. He was warned by the accountant to do something about it but failed to do so etc. Fortunately I had nothing to do with this one! But thats just one example of someone not doing the right thing, I expect there are loads of others. I know they will pay the tax in the end but surely the CIS is there to make sure they get their tax, as too many subbies get paid CASH for a samll job and don't put it through the books.
Anyway not usre how they will implement that rubbish.
Hopefully like you say they won't be in for much longer, mind you it will take the other lot a long time to sort out the mess we are in.
cheers A sorry had to edit loads of spelling mistakes!!!
-- Edited by Amanda on Monday 15th of March 2010 01:23:58 PM
I make loads of spelling mistakes when I get annoyed with a post.
Think that somewhere between my brain and my fingers the various different checkpoints that filter out all of the expletives also jumble the letters and words into a random sequence that for the life of me looks fine when I actually hit the submit button.
I actually sent a couple of AA batteries to No. 11 whilst Gordon was still chancellor as I figured that the ones in his calculator must have worn out as non of his figures added up.
Strangely I never received a thankyou for them! Ttt.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I actually sent a couple of AA batteries to No. 11 whilst Gordon was still chancellor as I figured that the ones in his calculator must have worn out as non of his figures added up.
Strangely I never received a thankyou for them! Ttt.
I'm surprised you never had your door kicked in at 5am with about 20 police officers thinking you were a terrorist.
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Never buy black socks from a normal shop. They shaft you every time.
Not sure taht this is politically motivated and I cannot see any government reversing something they think will bring in extra revenue since we are a trillion quid in the red...the question is, will this bring more revenue in? The last poster on AW mentions that the rules were originally brought in to capture tax from the thousands of itinerant labour back in the 70's. It may well just create a huge black market.
On a political bent, surely George Osbourne scares the life out you as much as he does me...God help us if he comes up with a policy! And amigos my sombrero isn't particularly red...in fact I have never voted for the winning side yet!
I've just been sacnning the consultation paper and it made me laugh that one of the questions was something along the lines of 'what avoidance schemes may be implemented'...surprisingly the majority of respondents felt they were unable to reply to this!!! Well I suppose you have to ask! There was a response of cross selling P&M, I can certainly see that a contractor may 'hire out' P&M and then get it charged back from the subbie. Interestingly the onus is still on the 'payer' so I think from our point of view try to just act for the subbies if tehy are still paid as self employed and maybe avoid the contractors.
A trillion sounds an awful lot of money but in real terms that's about one third of the value of the bank that everyone "thinks" that they own or around two and a bit days turnover for any one of the main banks.
This government has absolutely no idea how to make money.
A good example is the impending increase in National Insurance.
Business has basically reacted by saying ok, then we'll just have less UK based employee's.
The net effect. More money going out of the country and more unemployment so more people taking out of the system than contributing towards it.
Business has stated that an increase VAT rather than NI would be acceptable and would not cost jobs... But the governments not listening as an increase in VAT would be felt directly in increased prices whereas an increase in NI would be felt indirectly via redundancies.
Another example is local government rates on Businesses. Business cannot afford the extortionate rates so they close leaving properties empty. The councils reaction to empty properties is to increase the rates for the remaining businesses so that their income does not fall which of course causes more to close.
I think that the real problem is that people with no idea about business are put in positions of power and have to act as though they have a clue as to what the hell they're doing.
What we should have is someone like sir David Tweedie or Lord Digby Jones running the countries finances on the basis of increasing the countries wealth rather than using finance as a means to political ends.
Right, get back off my soap box.
Talk later,
Shaun. Capitalist (provisional wing!).
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I like the soap box, you can get back on! Quite right about the NI increase. I never want to take an employee on again, there is compulsory pension contribution which is great but a small employer just cannot afford it, there's the extra bank holiday celebrationg the queens long reign, but who picks up the tab? There's just no joined up thinking in so much of the policies.
I've been reading the consultation paper and basically if this is put on to statute it will decimate the building industry. Small firms cannot afford to take on employees as at the end of a job they would have to make many of them redundant and pay notice etc., etc., Subbies would find it very difficult to meet the criteria HMRC is setting as a test of self-employment.
To pinch the soap box for a moment, Government these days is made up of people who go from university to be "researchers" etc never have a "proper" job, until they get a safe seat. All three main party's candidates/current MPs are either that or lawyers, PR people, they have no idea of how to run a business which is what the country is, that's why we're in such a mess. Trouble is, until we get rid of FPTP we stand no chance of changing things.
