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Shout99.com - Freelancers Outside IR35

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Earnings Protection Programmes
by mjwsellers at 16:37 29/04/03 (Seminar>Consultant)
Have any owners of PSC's or Small Businesses considered sharing imaginative proposals for mitigating Section 660 and IR35 through careful and constructive planning?
In selective instances tailored to individual circumstances, there should be a good way of saving income and capital taxes which can be offered to one person or a group of persons who form an arrangement with an existing company offering "financial services and business consultancy".

In addition, careful deployment of a Director's Loan Account to the company can protect cash flow and the principalís remuneration policy.

A Chartered Accountant, I together with my family own a private company established in 1985, which has in excess of £150K of revenue and £150K of capital losses available to carry forward and offset against future revenues and capital gains respectively.

In addition, there is my Directorís Loan account to the company standing at over £300,000 to potentially satisfy IR35 assessments.

In order for these losses to be utilised, the Inland Revenue stipulates they can only be offset against revenues and profits from a similar business activity.

Depending upon particular circumstances, there may be Interim Financial Professionals, CFO's, Financial Services & Business Consultants working through their Personal Service Companies looking to mitigate past and/or shelter future revenues and gains through efficient planning.

My proposal would involve qualified parties entering into some form of structured arrangement with my company merging interests through either (but not limited to) a Limited Partnership, Protected Cell Company and the like.

Based upon the above outline brief, I welcome any comments leading to fruitful discussions.


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