Partway Share Discussion Threads

[ekuuleus] 09/3/2020 11:55

Oh dear does that mean 30% will be impacted by ir35.

[teamaccounting] 27/2/2020 08:49

CEO posted on LinkedIn yesterday

The IR35 reforms scheduled to come into effect in April this year are indeed interesting and potentially going to have an impact on the general recruitment market. With c70% of Parity’s recruitment revenues coming from clients in the public sector, where these rules have been in place for almost three years already, we are perhaps better prepared than most for the upcoming changes.

[davidsparkle] 20/2/2020 11:45

In case anyone missed it I posted earlier the following on IR35 and Parity.

This has bee coming for some time and many companies in consultancy havde already managed to address this. Consider that Parity is the consultant when it comes to data, not the individual person working for Parity, inside the large corporation.

UK employment law and in particular HMRC has been confusing over what it means for consultants. However, to meet the conditions where IR35 has any impact on self-employed or limited liability company contractors three main principles to determine the "deemed employed" status applies. These tests of employment are

Control: what degree of control does the client have over what, how, when and where the worker completes the work. Data management and analysis by a third party with expertise in that area, not normally engaged within a company or government department does not imply the client has control and thus is likely to fail to beet the IR35 test threshold.

Substitution: is personal service by the worker required, or can the worker send a substitute in their place? A main contractor, being the supplier of the service, can and would provide a substitute for the provision of services to resolve the problem of the client, educate and advise of further services available. Therefore substitution rule can be applied and fails to meet the IR35 test threshold.

Mutuality of obligation: mutuality of obligation is a concept where the employer is obliged to offer work, and the worker is obligated to accept it. If a contractor/consultant is not obliged to accept work, and the main contractor or the client is not obliged to offer work to the sub-contractor, there is no mutuality and thus this test fails to meet the IR35 threshold.

Hope that helps.

[teamaccounting] 20/2/2020 09:12

Oh dear looks like IR35 is affecting confidence

[onjohn] 18/2/2020 21:00

Looking for 6p when they warn

Fears around the impact of the proposed new IR35 rules, set to apply in April 2020, may result in hirers making the decision to cease the hire of PSC contractors.

[flashheart] 11/2/2020 13:48

Nothing unusual about a significant shareholder appearing on the website. It just means that as less than 3% he would not have been obliged to issue a TR1 to the market disclosing the fact.

[teamaccounting] 11/2/2020 13:45

Key shareholders list on PTY website has been updated, it includes Mr J S Rockliffe 2,600,000 (2.53%) not sure why < 3% is listed ?

[insideryou] 31/1/2020 17:18

3 tranches of 250000 shares bought today

[dusseldorf] 29/1/2020 14:38

ONJohn - The only thing to take this to 5p would be Helium Rising stars changing their stance, so I don't rate your chances of seeing 5p given they increased after the last trading update. Indeed, I don't think see you'll see 5p ever again as PTY will be taken out once revenues from the two strategic partnerships become evident.

[onjohn] 29/1/2020 14:27

5p coming here in the next warning

[davidsparkle] 29/1/2020 13:26

For anyone interested in the UK employment law, there has been confusion over what it means for consultants. However, to meet the conditions where IR35 has any impact on self-employed or limited liability company contractors three main principles to determine the "deemed employed" status applies. These tests of employment are

Control: what degree of control does the client have over what, how, when and where the worker completes the work. Data management and analysis by a third party with expertise in that area, not normally engaged within a company or government department does not imply the client has control and thus is likely to fail to beet the IR35 test threshold.

Substitution: is personal service by the worker required, or can the worker send a substitute in their place? A main contractor, being the supplier of the service, can and would provide a substitute for the provision of services to resolve the problem of the client, educate and advise of further services available. Therefore substitution rule can be applied and fails to meet the IR35 test threshold.

Mutuality of obligation: mutuality of obligation is a concept where the employer is obliged to offer work, and the worker is obligated to accept it. If a contractor/consultant is not obliged to accept work, and the main contractor or the client is not obliged to offer work to the sub-contractor, there is no mutuality and thus this test fails to meet the IR35 threshold.

[teamaccounting] 29/1/2020 09:28

Recruitment side is/will be affected by IR35 roll out to private sector this year, but PTY took the big hit a few years ago when it was implemented in public sector.

[ekuuleus] 29/1/2020 09:06

recruitment is a low margin business with some high costs and about to get pounded by the IR35 changes.

[chrisdgb] 29/1/2020 08:52

Great to see the buying here and clear transformation going on, look ahead not backwards......

[albanyvillas] 29/1/2020 07:50

helium will go way of woodford with too much in one illiquid share - no wonder they are operating from cayman

When this warns and it will. they will get scorched. Recruiters are impacted by a lack of confidence. In addition, there is continued uncertainty surrounding IR35.

[napoleon 14th] 28/1/2020 13:07

Helium Rising Stars Fund (Cayman Islands) raised their stake to 22.18% on 17th Jan.

[teamaccounting] 15/1/2020 17:00

Over 450,000 of sales and no price movement ?

[insideryou] 14/1/2020 14:06

Your short bleeding Jonny?

[onjohn] 14/1/2020 12:19

This is a disaster

No mention of margins. Cash has gone up because turnover is sliding.

[insideryou] 14/1/2020 12:15

Yet you waste time writing about a share you obviously hate. In NLP we state, "what you focus on, you will get more of".. Enjoy your misery therefore.

[ekuuleus] 14/1/2020 10:16

Wouldn't count on it staying cash positive. The ir35 legislation is impacting the market already but this wont show up in recruitment businesses yet.