It looks like

[islaydarkblue]

Yes it was true but IR35 specifically targets those who clearly have only one job, let’s say a footballer, and who only claim to be a company for tax avoidance. It’s not quite there yet they had to push it back a little in time as it caused a huge issue for London Underground who’s maintenance men and tradesmen were all set up as limited companies.

The government is rightly fixing such ‘loopholes’ but I hope they also go after big businesses who are simply more skilled at avoidance than the treasury is at collecting.

Thank you for your information.
A lot companies who have made have received tax credits for losses in previous years can use these tax credits to offset tax on profits in future years.

[deecom]

i think any football players,unless they are on PAYE, need to be wary of any tax avoidence schemes.
the problem in this country is that our tax system is so complicated even the INLAND REVENUE do not understandit,and im not joking when i
say that
look at ESTONIA,their tax system is simple,even school kids can tell you how much tax you have to pay !
Ive worked with lads offshore who have paid reputable accountacy firms to join various schemes,then two or three years down the line,
they get hit with huge tax bills, which many find difficult to pay.
You see high profile football players who have been well advised, being caught with tax demands.
the Rangers debacle is another example,rangers have some eminent legal brains, but between them and the inland revenue, they still cannot come to a conclusion.
when you come up against the inland revenue, there is only one winner.

[deecom]

on a personal note regarding the I R.
when my wife retired, she was born 1953, so had to wait almost six years for her state pension.
she was being taxed on her council pension, we challenged this but despite , phone calls,e_mails and visits to the the tax office,they maintained there figures were correct.
about five years after she retired,she received a letter from the inland revenue regarding another query.
when she gave her details and earnings over the phone,she was then told she should not have been paying tax on her council pension.
we received one years tax rebate,but overall lost about 6k.
if the I R make a mistake,they only go back one year, if YOU make a mistake ,they go back minimum five years !
again there is only one winner