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  1. #1

    Ddraig Goch


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    Default Danbro - cracking pension/childcare scheme

    Been searching for a while. Some umbrellas are crap for pension and only do the minimum - the rest has go in via AVC so you negate the NI saying.

    Danbro let you treat all pension contributions as employer contribs. So you're saving ALL the NI (inc employer NI I think?). Same with childcare vouchers - but limit is 28 per week assuming you're higher rate tax payer.

    So for most people, its case of 100 in pension or around 50 in pocket. Seems like a good opportunity to me to stick it in pension.

    Thats what I plan to do - when I've finished with umbrella I can then transfer the pot to my existing HL SIPP.
    Rhyddid i lofnod psychocandy!!!!

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    Why not put some effort in to finding a proper contract?
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  3. #3

    Old Greg is my bitch's bitch

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    Quote Originally Posted by psychocandy View Post
    Been searching for a while. Some umbrellas are crap for pension and only do the minimum - the rest has go in via AVC so you negate the NI saying.

    Danbro let you treat all pension contributions as employer contribs. So you're saving ALL the NI (inc employer NI I think?). Same with childcare vouchers - but limit is 28 per week assuming you're higher rate tax payer.

    So for most people, its case of 100 in pension or around 50 in pocket. Seems like a good opportunity to me to stick it in pension.

    Thats what I plan to do - when I've finished with umbrella I can then transfer the pot to my existing HL SIPP.
    Good find. If the money is in your pension pot, does that shelter it from consideration as savings when calculating your entitlement to benefits?
    Where there's muck there's brass.

  4. #4

    Ddraig Goch


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    Quote Originally Posted by northernladuk View Post
    Why not put some effort in to finding a proper contract?
    And its not a proper contract why? I assume you mean because its Inside IR35 PS?

    Heres the facts:-

    Advantages
    1. Its close to home - 20 mins drive. Last place was 90 mins via train.
    2. The work/tech is good.
    3. The people her are great, and its a pretty decent place to work. gym onsite etc.
    4. They are willing to pay 1.5 days for weekend work etc. Even though contract says its daily rate.
    5. They're very flexible. Due to (1) I also get part of my life back now. Can go appointments, do school runs, etc.
    6. The rate was upped by 30% to accommodate. Take home is same as last contract pretty much. Shedloads than the permies.
    7. After two months of initial 3 they offered me 6 months on top.
    8. They've got me SC again.

    Disadvantages
    1. Umbrella etc is a bit of PITA.
    2. Still got to pay accountant half fees to keep company going.
    3. Going to lose out on child benefit due to being higher tax rate earner.

    Can't see any reason why I should get another gig, can you?
    If my current client was a person, I'd have their babies for them......
    Rhyddid i lofnod psychocandy!!!!

  5. #5
    eek
    eek is offline

    bored now

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    Default

    So Danbro offer exactly what Contractor Umbrella do regarding pensions?

    What are the charges for moving the money into your pension scheme away from Danbro's.....
    merely at clientco for the entertainment

  6. #6

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    Quote Originally Posted by psychocandy View Post
    1. Umbrella etc is a bit of PITA..
    A bit? F me... I hate to see you struggling with something that's a real PITA.
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  7. #7

    Ddraig Goch


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    Quote Originally Posted by northernladyuk View Post
    Good find. If the money is in your pension pot, does that shelter it from consideration as savings when calculating your entitlement to benefits?
    Ha ha not aware that pension pot has ever affected any claim for benefits.
    Rhyddid i lofnod psychocandy!!!!

  8. #8

    Ddraig Goch


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    Quote Originally Posted by eek View Post
    So Danbro offer exactly what Contractor Umbrella do regarding pensions?

    What are the charges for moving the money into your pension scheme away from Danbro's.....
    Wasn't aware contractor umbrella do the same. To be honest, I would have gone with them but crap agency wont allow me to use them.

    Hmm good point. Not sure about the charges. I'll have to check. Still can't see how it would be negate pretty much saving 50% on tax/NI.

    Of course, could just leave it there when I've finished contributing.
    Rhyddid i lofnod psychocandy!!!!

  9. #9

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    Quote Originally Posted by psychocandy View Post
    Wasn't aware contractor umbrella do the same. To be honest, I would have gone with them but crap agency wont allow me to use them.
    Wow... just.. wow.

    You yourself said they do in this post.

    http://forums.contractoruk.com/umbre...ml#post2443473

    You asked and Lucy directly answered your question in this thread.

    http://forums.contractoruk.com/umbre...-benefits.html

    And I'm sure it's been mentioned more than once in the countless other trash threads you've started about this whole sorry affair.

    Just makes you wonder if you come on here to troll and just spout off rather than actually looking to help yourself learn more about what you do. Actually, the answer to that is bloody obvious.
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  10. #10

    My post count is Majestic

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    In fact you posted the comment about Danbro already so why start another thread on it?

    http://forums.contractoruk.com/umbre...ml#post2452788
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