It was on my to do list but you motivated a quick reading.
quite a few interesting snippets in there.
I was particularly drawn to 1.13 : "The legislation will include provisions for transfer of debt"
basically thats saying that the legislation is to undermine the principle of separation of businness and personal and transfer company debts to the individuals behind the business for PSC's and Umbrella company workers.
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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.
No problem. Mine ATM was the seemingly entire re-write of dividends. I imagine there will be a few more husband / wife transfers of PA elections this coming fiscal.
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
I totally agree. I think it's a case of it being easier to police. I mean you can only have one wife / husband (legally lol) yet you could state anyone as being a gf / bf.
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
But you can only 'give away' part of an allowance and it would be the same process whether its wifelet/hubby, children/grandkids, g/f and b/f, uncle Tom cobbley and all. Its nothing to do with policing of it, but because they know more people would probably do it and they would gain less in income.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
There are supposedly stringent rules and laws in place to prevent breaches of NMW yet that goes on relatively unchecked. Yes HMRC will check some and supposedly make an example of them, but often do not even react/investigate cases when reported to them at the highest level. There is a whole industry where such practice of paying WELL below the NMW is absolutely rife, yet HMRC nor anyone else does ANYTHING about it! All rules and laws are abused in some form or another, usually by the minority rather than the majority.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
A certain amount of those being paid under the NMW will also be claiming benefits, illegally. Two wrongs don't make a right I know. As it stands, the PA shift of 10% can't be abused as it is only for married folk. If it were available to general partners, you'd possibly have some of those earning under the NMW, claiming benefits, whilst receiving kickback for transferring 10% of their PA! I do agree, the minority do in general ruin things for the majority.
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
I've got loads of spare (ex) wives. Great new business idea. I could start hiring them out... Mmm, somehow I think even the potential tax savings would still not make them cost efficient investments.
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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.
Banks no longer required to deduct interest- In Chapter 2 of Part 15 of ITA 2007 (deduction of income tax at source by deposit-takers and building societies) omit (a) section 851 (duty to deduct when making payment of interest on relevant investment), and (b) the italic heading preceding it.
-- Edited by abacus12345 on Monday 7th of March 2016 07:24:38 PM
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
