Your Shout: Letters to the editor

Financial Adviser Letters

Financial Adviser Letters

Sorry, Mr Peaple, we are big boys and girls and we can manage our own pension funds.  

You have got half a point at least where DB pensions are concerned, but with defined contribution pensions, forget it. Hands off, you are having a laugh. 

Neil Liversidge

West Riding Personal Financial Solutions


‘Shameful’ IR35 situation

Regarding your article on TV presenter Helen Fospero (November 7). As a contractor myself for the past nine years, I thought it would be worth sharing my own views on the shameful HM Revenue & Customs IR35 situation. 

The latest approach is forcing those companies who utilise contract resource to scale up and down at will to take a blanket approach to not employing limited company workers. 

This is going to have a massive impact on cash flow for companies like mine, as many companies have stopped taking on resources as they wait to see how the market responds. 

There are differences between myself as a contractor and a typical employee. These include:

• a difference in the number of working hours – 40 plus for contractors versus 36.5;

• enforced Christmas breaks – sometimes for two or three weeks, and then on occasion it has been extended to six weeks;

• enforced summer break notifications as and when the client decides they want no support;

• rates can be cut mid-way through a delivery, and if not accepted I can be told to leave;

• no staff perks;

• no internal reviews and no task-setting; 

• no client-paid jollies and there are different internal processes for contractors.

I work on different projects in different locations and dishonesty from management happens all the time.

I cannot tell you how many recruiters I have spoken to who struggle to recruit for IR35roles since this came into the public sector. 

Look at it this way, being in business myself, why would I want to be taxed as an employee without any of the above benefits, and not be able to claim my standard business expenses that every other limited company is able to claim? Who would I actually be working for here, myself or the government?

Name and address supplied


Detrimental regulation

Regarding the article: FCA warned of £25bn harm in DB transfer scare (November 12). 

Advisers are feeling obliged to advise clients not to transfer from their scheme just because of the FCA key performance indicators and fear of losing their business due to having no professional indemnity insurance.

Clients need individual advice from knowledgeable, unconflicted advisers who do not need to focus on anything other than what is best for that client and their life plans – the current position is so detrimental and we have to get a more balanced view on the merits of pension plans.