Comments on: + + + Tories to Scrap IR35 – Geeks Rejoice + + +

By: Anonymous

Anonymous — Sat, 03 Apr 2010 09:38:42 +0000

Iain Duncan Smith committed the tories to abolishing IR35. Michael Howard watered it down to a ‘review’. Now we have the shock news from Call-me-Dave: there will be a review!

The tories can be trusted as much as the rest of the liblabcons, which is fuck all.

By: Jason Altsom

Jason Altsom — Fri, 02 Apr 2010 18:30:44 +0000

Looks like IR35 disappearing might leave a lot of “service providers” out of pocket – e.g. accountants, inventors of tax solutions within the freelance industry. See here – http://www.contracteye.co.uk/clearsky_ir35_review_claims.shtml

By: MikeW

MikeW — Fri, 02 Apr 2010 11:01:28 +0000

IR35 only allowed 5% of income (not profit) to be allowed as “tax-free”, everything else was taxed as if it were the freelancer’s personal income

That’s not quite correct. From a well-known accountancy website:

“Starting with the company’s income (net of VAT) from personal service jobs, the calculation sequence is:

- deduct 5%
- deduct all travel and other direct business expenses of the worker
- deduct any company pension contributions for the worker
- deduct er’s NIC

and what you are left with is the required gross pay of the worker”

By: Bagehots Fabric

Bagehots Fabric — Thu, 01 Apr 2010 19:18:32 +0000

What Consultant says above about Timms above is correct and this probably warrants further investigation.

At one point Ovum tried to sell itself for reportedly around GBP 8.5 million but failed to find a buyer.

Ovum was subsequently sold to Datamonitor – who, not much later sold itself, Ovum included, to Informa plc.

Were profits made by Timms on the acquisition or does he still hold shares in the firm to this day? I think we should be told……

By: You Couldn't Make It Up

You Couldn't Make It Up — Thu, 01 Apr 2010 19:10:59 +0000

Precisely. The self-employed are a huge army and by no means all in IT, so most are not employed by ‘agencies’. Most people in eg publishing, sporting media, some areas of sport (eg jockeys), large areas of medicine etc etc are self-employed. The reason Labour hate us is because we aren’t under their control – we are three-thinkers, risk-takers and averse to the Big State which is their aim

Haivbng been self-employed almost all my (40+ yerars) career, with no paid holidays and no paid-in pension, I expect some slack in return by way of expenses set against earnings etc etc.

By: stark

stark — Thu, 01 Apr 2010 11:43:12 +0000

Uh sorry -did the quote say they were going to get rid of it. No – another quango – “independent” – so they’re not seen to take responsibility for the decisions. And if it’s really independent, how can they know that it will come up with removing IR35 ?

Utter bullshit statement, and a classic of why real people are pissed off with the lot of them.

By: terence patrick hewett

terence patrick hewett — Thu, 01 Apr 2010 02:35:31 +0000

Hallelujah. I have to account for every penny I earn as a freelancer and all the while those cock-sucking thieves in Westminster were crooking us all big time. Lay them all in a long line and run a steamroller over the lot and jump up and down on the pieces.

By: simon

simon — Wed, 31 Mar 2010 20:43:41 +0000

She also sold HM buldings to offshore comapnies. Why?

By: simon

simon — Wed, 31 Mar 2010 20:40:31 +0000

IR35 has cost more to try to enforce than has been recovered in tax. However, it has allowed HMRC to vindictively target the self employed (by no means all geeks). They are, after all, in their eyes, private sector scum.

That is the important thing about IR35

By: simon

simon — Wed, 31 Mar 2010 20:36:55 +0000

I remember a swedish writer wrote a book about a self employed detective who had to pay tax of 52% of his earnings as both employee and employer. If he got a reward he owed the government a further 4%.