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Personal Services Companies Inquiry: Page 1

Contractors incorporate limited companies primarily to reduce risk, shows HMRC survey
Contractors choose to incorporate primarily to reduce risk, shows research by HMRC that fills knowledge gaps revealed during the Lords’ PSC inquiry.

IR35 and PSC inquiry - Lords pour scorn on government and HMRC
IR35 and PSCs are “unfinished business”, conclude the Lords during a debate that was highly critical of the government’s response to their inquiry.

Contractor hopes of IR35 reform dashed as Lords’ inquiry brushed aside by government
Contractor hopes that IR35 might be reformed have been dashed by the government’s response to the House of Lords Select’ Select Committee PSC inquiry.

Contractors stuck with IR35: Government’s response to the Lords’ PSC inquiry
Contractors won’t see IR35 being repealed any time soon, according to the government’s “lacklustre” and “formulaic” response to the Lords’ inquiry.

Lords slam IR35: benefits are unproven and HMRC needs to review them
IR35’s benefits to the Exchequer may be overstated, concludes the Lords’ PSC inquiry, as HMRC is called on to review the future of the tax.

Lords’ PSC evidence increasingly polarised between vulnerable workers and contractors
Contractors and vulnerable workers are increasingly portrayed as two distinct groups in the Lord’ Personal Service Companies (PSC) inquiry evidence.

Separating PSCs from other companies is an “impossible task”, shows Lords’ evidence
Contractor limited companies cannot be distinguished from other companies or product-based businesses, shows written evidence to the Lords’ inquiry.

The only way to fix IR35 is to make it irrelevant, ContractorCalculator tells peers
Fixing IR35 can only be achieved by merging NI and income tax to make it irrelevant, ContractorCalculator CEO Dave Chaplin tells the PSC inquiry.

PSCs are undefinable and ‘disguised employment’ is nonsensical, Chaplin tells Lords
ContractorCalculator CEO Dave Chaplin tells peers in written evidence that there is no definition of what a personal service company actually is.

IR35 a “sticking plaster” on the tax system’s structural problem, witness tells Lords
IR35 is a “sticking plaster” on the UK tax system’s structural problems, says Amey’s tax head Robert Fort in the latest Lords’ PSC inquiry session.

HMRC discovers extra £75m of IR35 tax yield, according to Lords’ PSC inquiry evidence
EXCLUSIVE: HMRC has upped its estimate of IR35’s tax yield by £75m, from £475m in late November 2013 to £550m in early January 2014.

Contractors drive PSCs use and are hired short-term for their skills, Lords told
Contractors choose to work via limited companies and both private and public sector clients use them short-term for specialist skills, peers are told.

Contracting experts clarify to Lords how contractors really work without avoiding tax
Contractors’ use of limited companies and agencies is just good business and not tax avoidance, Lords told in latest PSC inquiry evidence session.

Contractors should have a statutory right to be self-employed, expert tells Lords
Contractors should have a statutory right to be self-employed, the House of Lords Select Committee on PSCs is told in its latest evidence session.