MrPAYE
30th August 2010, 12:21
See http://www.hmrc.gov.uk/budget2010/nics-hol-new-bus-tn.pdf
The most interesting points to note:
Those caught by IR35 will not qualify although regular salary paid through payroll may
Employees of Managed Service Companies will not qualify
Restrictions on coal, argicultural, fisheries and road transport sectors (driven by EU)
Could apply to overseas businesses operating in UK
Although scheme starts 6 September, legislation will not be passed until next year - so user beware.
Changing the structure of an existing business will not work in qualifying
Buying an existing business does not qualify
New annual return will be required (in addition to P35)
The most interesting points to note:
Those caught by IR35 will not qualify although regular salary paid through payroll may
Employees of Managed Service Companies will not qualify
Restrictions on coal, argicultural, fisheries and road transport sectors (driven by EU)
Could apply to overseas businesses operating in UK
Although scheme starts 6 September, legislation will not be passed until next year - so user beware.
Changing the structure of an existing business will not work in qualifying
Buying an existing business does not qualify
New annual return will be required (in addition to P35)