Bruce,
Your getting your terminology mixed up. ŽEvasionŽis the the
illegal one, and ŽAvoidanceŽis the
legal one. Google the definitions if you dont believe me.....
So hold fire on the ŽlibelŽclaims cowboy
.....and 30% monthly is probably about right for PAYE & NI if a low rate tax payer just entering the high rate bracket. Which is what a RYR pilot income is within the first 18 months... so canŽt see what you are rubbishing....IŽve prob missed your point aswell, so pls enlighten us all.
737Jock is partly right in his posts re the whole contracted to one employer point. Pls see anything related to IR35 if you base your business in the UK. There are ways around it, but I am not going in to that.
[QUOTE]On 20 May 2010 the new Liberal Democrat/Conservative coalition Government's Programme for Government announced a commitment to "review IR 35, as part of a wholesale review of all small business taxation, and seek to replace it with simpler measures that prevent tax avoidance but do not place undue administrative burdens or uncertainty on the self-employed, or restrict labour market flexibility./QUOTE]
In its current form the Govt are chasing a lost cause on this. It has been in place since 2000 and they have raised less than 5% of the tax revenue expected by its implementation, and by and large it has proven largely un-enforcable. Which means it will be prob be reviewed (as the Govt will be trying not to miss out on a quick buck). But it was mainly in response to the huge growth in IT contractors at the end of the 90Žs, which has subsequently all but died off and most have moved back into full time employment. So overall the contract market is not what it once was (plus those that were caught and penalised went into voluntary arrangements and bankruptcy so the payback has not been great). Given that nothing has really been done over the past 10yrs, might mean that nothing will change in the future. But if it does be aware and flexible enough to move with the changes.
