+ Reply to Thread
Page 1 of 2 1 2 LastLast
Posts 1 to 10 of 13
  1. #1

    Nervous Newbie


    Join Date
    Mar 2017
    Posts
    1
    Thanks (Given)
    0
    Thanks (Received)
    0
    Likes (Given)
    0
    Likes (Received)
    0

    Default ....

    Thanks for the kind advice people gave.
    Post now deleted.

  2. #2

    More time posting than coding


    Join Date
    Dec 2005
    Posts
    431
    Thanks (Given)
    0
    Thanks (Received)
    1
    Likes (Given)
    0
    Likes (Received)
    3

    Default

    If they are quoting an annual rate that may well be a FTC (fixed term contract) - at which point you wont need (or be able to use) a limited company- you will be employed.
    With regards to expenses - that depends on your employment status, and then if you are caught by IR35 or not. You need to read the stuff in the links.
    Unless you are extremely skilled in keeping all your tax affairs up to date - and full compliance - and even when the company is dormant there are still forms to complete - you will probably NEED an accountant

    Suspect you are going to get some more blunt comments following........

  3. #3
    eek
    eek is offline

    bored now

    eek's Avatar
    Join Date
    Jun 2010
    Location
    😂
    Posts
    21,212
    Thanks (Given)
    207
    Thanks (Received)
    1000
    Likes (Given)
    925
    Likes (Received)
    3063

    Default

    FTC of 25,000 means you are an employee with few of the benefits. That means you will be taxed and treated like and employee and can't claim expenses between home and the office - for you are an employee of the company.

    It is a contract only in the sense that you are being asked to sign one. In reality you are about to become a temporary employee of that company without the rights (and possibly even the pay) you would get as a permanent member of staff. To be honest its the worst of all possible worlds so only take it if you need to.

    Finally to blunt if you are worth only 25,000 in any market you should not be trying to contract. You need to get permanent work, build you skillset up and once you have 5 years experience in something relevant - only then look to go contracting.
    Last edited by eek; 20th March 2017 at 09:14.
    merely at clientco for the entertainment

  4. #4

    My post count is Majestic

    northernladuk's Avatar
    Join Date
    Mar 2009
    Posts
    30,947
    Thanks (Given)
    119
    Thanks (Received)
    995
    Likes (Given)
    1514
    Likes (Received)
    5031

    Default

    Quote Originally Posted by Thanton2 View Post
    But shall I try to do the tax myself or use an accountant ?
    and then you ask
    If going through Ltd, what expenses can I claim? I won't be VAT registered.
    I have checked online and there are so many versions regarding this. Hoping s'one with experience could help.

    3. Pensions.
    I understand this is tax free. Correct? How much is a reasonable amount to pay ?
    Does that really sound like you are capable of doing your own accounts?
    'CUK forum personality of 2011' - Winner - Yes really!!!!

  5. #5

    Lord of the Vectras

    VectraMan's Avatar
    Join Date
    Dec 2005
    Location
    European Union (UK region)
    Posts
    10,914
    Thanks (Given)
    54
    Thanks (Received)
    177
    Likes (Given)
    278
    Likes (Received)
    1039

    Default

    Quote Originally Posted by dmini View Post
    Unless you are extremely skilled in keeping all your tax affairs up to date - and full compliance - and even when the company is dormant there are still forms to complete - you will probably NEED an accountant
    "Extremely" skilled? NEED?

    It's easy enough, assuming you can add up and type numbers into a web page. The people that flip it up are the ones that put their heads into the sand (and that includes the people who think it's the accountant's responsibility to run the company).
    Special Discretion Required.

  6. #6

    My post count is Majestic

    d000hg's Avatar
    Join Date
    Dec 2007
    Location
    My house
    Posts
    30,985
    Thanks (Given)
    99
    Thanks (Received)
    342
    Likes (Given)
    143
    Likes (Received)
    1222

    Default

    Quote Originally Posted by eek View Post
    Finally to blunt if you are worth only 25,000 in any market you should not be trying to contract. You need to get permanent work, build you skillset up and once you have 5 years experience in something relevant - only then look to go contracting.
    Not sure about that, if he's worth a 25k salary up north for instance that doesn't mean no sellable skills. He might be better off as a freelancer than a contractor but doesn't appear to say what line of work... coding, support, testing, toilet cleaning, ...
    Quote Originally Posted by MaryPoppins View Post
    I'd still not breastfeed a nazi
    Quote Originally Posted by vetran View Post
    Urine is quite nourishing

  7. #7
    eek
    eek is offline

    bored now

    eek's Avatar
    Join Date
    Jun 2010
    Location
    😂
    Posts
    21,212
    Thanks (Given)
    207
    Thanks (Received)
    1000
    Likes (Given)
    925
    Likes (Received)
    3063

    Default

    Quote Originally Posted by d000hg View Post
    Not sure about that, if he's worth a 25k salary up north for instance that doesn't mean no sellable skills. He might be better off as a freelancer than a contractor but doesn't appear to say what line of work... coding, support, testing, toilet cleaning, ...
    I know developer rates up north are low (heck I saw a c# team lead role on 35k recently) but 25k is not a contractor level skillset even around here.
    merely at clientco for the entertainment

  8. #8

    Godlike


    Join Date
    Sep 2014
    Location
    Non-Event Horizon
    Posts
    8,593
    Thanks (Given)
    313
    Thanks (Received)
    571
    Likes (Given)
    2164
    Likes (Received)
    2544

    Default

    What sort of gig is this? 25k pa doesn't sound like a contract to me. It also reeks of IR35 because you're talking about a salary from the client. FTC, leave the limited co out of it if that's the case.
    The greatest trick the devil ever pulled was convincing the world that he didn't exist

  9. #9

    My post count is Majestic

    d000hg's Avatar
    Join Date
    Dec 2007
    Location
    My house
    Posts
    30,985
    Thanks (Given)
    99
    Thanks (Received)
    342
    Likes (Given)
    143
    Likes (Received)
    1222

    Default

    Quote Originally Posted by eek View Post
    I know developer rates up north are low (heck I saw a c# team lead role on 35k recently) but 25k is not a contractor level skillset even around here.
    Well granted it was 9 years ago but I think I was only on 27k when I jumped to contracting. And remember developers are one thing, those working on the web side or as testers may earn less, and equally attract lower contract rates.
    Quote Originally Posted by MaryPoppins View Post
    I'd still not breastfeed a nazi
    Quote Originally Posted by vetran View Post
    Urine is quite nourishing

  10. #10

    Godlike


    Join Date
    Sep 2014
    Location
    Non-Event Horizon
    Posts
    8,593
    Thanks (Given)
    313
    Thanks (Received)
    571
    Likes (Given)
    2164
    Likes (Received)
    2544

    Default

    Quote Originally Posted by eek View Post
    I know developer rates up north are low (heck I saw a c# team lead role on 35k recently) but 25k is not a contractor level skillset even around here.
    Rough rule of thumb for contract rates is that the north (M62 corridor) is generally 60% of London rates.
    The greatest trick the devil ever pulled was convincing the world that he didn't exist

+ Reply to Thread
Page 1 of 2 1 2 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Content Relevant URLs by vBSEO 3.6.0 ©2011, Crawlability, Inc.