Originally posted by speling bee
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Newbie to Ltd contracting - if you have salary at under £12k you are more likely to..
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Originally posted by TheCyclingProgrammer View PostThere is one surefire way that you can avoid IR35 issues by manipulating your salary...put the whole lot through your payroll. No need to worry about IR35 then.Leave a comment:
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There is one surefire way that you can avoid IR35 issues by manipulating your salary...put the whole lot through your payroll. No need to worry about IR35 then.Leave a comment:
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Originally posted by northernladuk View PostTo be fair SJD also advised me to pay a little tax. They admitted there isn't strong evidence for it but if anything changes i.e. HMRC start looking at people under the threshold you're covered so am happy to go with it. I understand there risk levels are pretty damn low but still, sounds like good advice to me.
EDIT : From an HMRC investigation I mean. I dunno why IR35 is factoring in the this thread to be fair.
IMV the important thing is people understand the difference between salary and dividend, and are free to make their own choices as company directors.
I do despair when I hear - occasionally - company directors referring to dividends as their "wages" and talking about their client as "employer". It happens....Leave a comment:
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Originally posted by BlasterBates View PostThe OP is right.
http://http://www.contractoruk.com/ir35/what_triggers_ir35_investigation.html
There are other things as well but this a big red flag.
If you were to pay your self more than 60% in salary I reckon they'd leave you alone. In fact I very much doubt they would have introduced IR35 in the first place if contractors had generally done something like that.Leave a comment:
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Originally posted by BlasterBates View PostThe OP is right.
http://http://www.contractoruk.com/ir35/what_triggers_ir35_investigation.html
There are other things as well but this a big red flag.
If you were to pay your self more than 60% in salary I reckon they'd leave you alone. In fact I very much doubt they would have introduced IR35 in the first place if contractors had generally done something like that.Leave a comment:
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The OP is right.
http://http://www.contractoruk.com/ir35/what_triggers_ir35_investigation.html
Such was the warning yesterday from Bob Jones, an ex-Inland Revenue tax inspector, who outlined the typical appearance of a taxpayer the agency's IR35 inspectors might approach.
"Someone operating through a limited company who has relatively low turnover; is the sole director; has minimal expenses; pays [themselves] the minimum wage but has large dividends."
If you were to pay your self more than 60% in salary I reckon they'd leave you alone. In fact I very much doubt they would have introduced IR35 in the first place if contractors had generally done something like that.Last edited by BlasterBates; 3 July 2014, 10:59.Leave a comment:
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Originally posted by mudskipper View PostHMRC reveals PSC dividends to be more than just monitored :: Contractor UK
This article from February suggest that drawing more than 50% of income as dividends could raise a flag.
So 10K or 12K or 16K isn't going to cut it if your aim is to stay below the radar.Leave a comment:
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HMRC reveals PSC dividends to be more than just monitored :: Contractor UK
This article from February suggest that drawing more than 50% of income as dividends could raise a flag.
So 10K or 12K or 16K isn't going to cut it if your aim is to stay below the radar.Leave a comment:
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Originally posted by northernladuk View PostTo be fair SJD also advised me to pay a little tax. They admitted there isn't strong evidence for it but if anything changes i.e. HMRC start looking at people under the threshold you're covered so am happy to go with it. I understand there risk levels are pretty damn low but still, sounds like good advice to me.Leave a comment:
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