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Dave's Blog: Page 3

Targeting high earning contractors and non-doms: the politics of envy rarely pay
Contractors and other high earners, now including non-doms, already bear a high tax burden. Pledges to load it up further means we could all lose out.

Employment status won’t be solved by anything short of an income tax NI merger
Employment status problems can’t be solved when tax is the issue, only merging income tax and NI, not a statutory test or third way, is the answer.

Umbrella and PSC travel expenses tax relief restrictions may never happen
The restrictions to tax relief on travel expenses for umbrella and limited company contractors may never happen, despite government’s best intentions.

Contracting’s success is not due to government policies, as Danny Alexander claims
The contracting sector’s ongoing success has been down to hard work by contractors and not through government efforts – it should do less, not more.

Oil and gas contractors: keep calm and contract on as the future remains positive
Oil and gas contractors should keep calm and contract on, as they can continue to thrive during the short, mid and long-term future of the industry.

Late payment solution unlikely unless new laws are passed
Contractors will be forever bedevilled by late and non-payment by clients and agencies unless new legislation with real teeth & enforcement is passed.

Devising a simple statutory employment status test is impossible
The Office of Tax Simplification will be unable to devise an objective, statutory employment status test as part of its Employment Status Review.

Trying to better administer IR35 has been a complete waste of time
Can IR35 be better administrated? The IR35 Forum Administration Review suggests not. In fact the little data published shows that things worsened.

Denying travel and subsistence tax relief to contractors is madness
Contractors who lose tax relief on their legitimate travel and subsistence expenses won’t take it on the chin – contracting will descend into chaos.

Unions are simply wrong about contractor umbrella companies
Unions are attacking the wrong target in their campaign against contractor umbrella companies, which was a blatant tax grab by government and HMRC.

Employment Status Review – Part 1: the challenges and how it could affect contractors
The OTS is examining the line between employment and self-employment and the outcome may affect contractors. Defining the problem is the start point.

Personal tax summaries could be part of a long term strategic tax overhaul
Contractors will receive their personal tax summaries in late 2014 and their real value is that they help manage any future tax reform debate.

Could IR35 be abolished next, following the BETs being scrapped?
Contractors have seen HMRC see reason and abolish the Business Entity Tests (BETs). Could the taxman and its master the Treasury address IR35 next?

IR35 taxes are a tiny proportion of the tax gap: surely HMRC has better things to do?
Contractors paying £1m a year in IR35 taxes is such a tiny proportion of the tax gap. Surely the taxman can direct HMRC’s resources more efficiently?

The IR35 Forum confirms what we have known since May 2012: the BETs don’t work
An IR35 Forum focus group confirmed what contractors have known for a long time. The Business Entity Tests are not working and should be abolished.

The UK’s real income tax rates should motivate everyone to go contracting
Contractors can control what they pay themselves and so avoid the UK’s real income tax rates, which should convince any employee become a contractor.

What contractors can learn about control from HMRC’s False Self-Employment guidance
Contractors are not directly affected by the False Self-Employment legislation but HMRC’s guidance provides important insights about applying control.

Why real income tax rates are not progressive for many taxpaying contractors
Contractors with children and earnings of over £50,000 per year, and those earning over £100,000 a year, are just not paying progressive rates of tax.

Would government help for contractors improve contracting’s economic contribution?
If there was more government help for contractors, would contracting’s already impressive economic contribution be improved, or would it backfire?

IR35 Odds - The chances of being caught are about 60,000 to 1
Contractors are more likely to find a valuable object on the Antiques Roadshow than to lose an IR35 case to HMRC.

Contractors: You’re all guilty now
Contractors and other taxpayers are being bullied into tax settlements with HMRC without having the opportunity to benefit from due process & the law.

Why hand the taxman more powers when HMRC fails to enforce the rules it has?
HMRC is being handed yet more powers, but it fails even to enforce those it has now. Does it really need new ones?

The Lords’ PSC inquiry wasn’t a waste of time, despite the Coalition’s limp response
Contractors will benefit from the Lords’ PSC inquiry, which highlighted key issues – as well as glaring flaws in the political process.

HMRC IR35 Contract Review Service – contractors should still steer clear
HMRC’s IR35 Contract Review Service should be avoided by contractors at all costs, despite a major plug for the taxman in HMRC’s new IR35 guidance.

How could the government dismiss the Lords’ direct hits on IR35?
Despite compelling evidence in the Lords’ review of PSCs that IR35 simply isn’t working, the government effectively dismissed all the findings.

Rate cuts for UK oil and gas contractors will only worsen skills shortages
Oil and gas contractors face across-the-board rate cuts by leading clients, but the move will only worsen skills shortages as contractors leave.

Tax avoidance schemes - contractors should keep 'eyes wide open'
Contractors thinking about using tax avoidances schemes should ponder on the recent spate of HMRC wins over providers and keep their ‘eyes wide open’.

What's gone wrong with our tax code when we can't work out how much to pay ourselves?
Contractors should be able to work out how much they pay themselves, but the UK tax code is so complex they need accountants or online calculators.

IT contractors have too many options now for banks to get away with cutting rates
IT contractors have too many alternative options to be frightened by banks threatening rate cuts. Clients are simply harming their own prospects.

Contractor livelihoods under threat by an increasingly out of control taxman
Contractor livelihoods are threatened by an increasingly uncontrollable tax gathering authority, so taking action is now more important than ever.

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