Switching from a LTD to a sole trader

Discussion in 'General Business Forum' started by Jenny Woollett, Aug 12, 2019.

  1. SteLacca

    SteLacca UKBF Ace Free Member

    1,395 271
    Tell that to all the poor sods being caught up in the contractor loan charge - perfectly legal when they did it.
     
    Posted: Aug 13, 2019 By: SteLacca Member since: Jun 16, 2016
    #21
  2. Mr D

    Mr D UKBF Legend Free Member

    15,606 1,719
    And made illegal later.

    Lots of schemes start legal, only sometimes years later the ruling becomes they were evasion so illegal.
     
    Posted: Aug 13, 2019 By: Mr D Member since: Feb 12, 2017
    #22
  3. SteLacca

    SteLacca UKBF Ace Free Member

    1,395 271
    Read your own words, "made illegal later" - and for clarifcation, made illegal retrospectively. How would you feel if Gvt made being a forum member illegal and backdated that 20 years?

    Tribunal after tribunal found against HMRC when they challenged these schemes until 2017. Those participating had no reason to believe that what they were doing was wrong, and many had received professional advice confirming their legitimacy, which coupled with tribunal rulings should have ended any threat.

    But, of course, one supreme court ruling has unraveled 20 years of tribunals and plunged 10s of 1000s into insurmountable debt.

    Nice job, Osborne.
     
    Posted: Aug 14, 2019 By: SteLacca Member since: Jun 16, 2016
    #23
  4. Mr D

    Mr D UKBF Legend Free Member

    15,606 1,719
    Its within the power of governments. Not a lot we can do about it except reduce risks by figuring out what governments are going to do for next several decades and not doing that ourselves. A major problem.

    What happens if as he has suggested Labour's treasury guy stops corporate subsidy and has that backdated? More taxes payable by you as you haven't been paying the correct amount.
    Unless one of the rare businesses not currently using corporate subsidy as he defines it.
     
    Posted: Aug 14, 2019 By: Mr D Member since: Feb 12, 2017
    #24
  5. SteLacca

    SteLacca UKBF Ace Free Member

    1,395 271
    I'm not disputing that. It doesn't make retrospective laws and less morally reprehensible.
     
    Posted: Aug 14, 2019 By: SteLacca Member since: Jun 16, 2016
    #25
  6. Newchodge

    Newchodge UKBF Big Shot Free Member

    12,301 3,187
    I haven't followed the minutiae of it, but is it a retroepsctive law or is it the final interpretation of an existing law? There is a huge difference.
     
    Posted: Aug 14, 2019 By: Newchodge Member since: Nov 8, 2012
    #26
  7. STDFR33

    STDFR33 UKBF Big Shot Free Member

    3,834 951
    A change in the law and backdated.
     
    Posted: Aug 14, 2019 By: STDFR33 Member since: Aug 7, 2016
    #27
  8. STDFR33

    STDFR33 UKBF Big Shot Free Member

    3,834 951
    No different to the NMW set at £8ph then changed to £12ph and then backdated ... then slapping every employer with a big fine for not complying with the NMW.
     
    Posted: Aug 14, 2019 By: STDFR33 Member since: Aug 7, 2016
    #28
  9. Mr D

    Mr D UKBF Legend Free Member

    15,606 1,719
    Governments tend not to bother with morals when it comes to their own actions.
    What you cannot in your personal life get away with can be done with relative impunity by governments.
    And in at least a few instances, get their people behind them while doing it.
     
    Posted: Aug 14, 2019 By: Mr D Member since: Feb 12, 2017
    #29
  10. Mr D

    Mr D UKBF Legend Free Member

    15,606 1,719
    Shh… don't give Labour any more ideas...
     
    Posted: Aug 14, 2019 By: Mr D Member since: Feb 12, 2017
    #30