IR35 Update following discussion group yesterday - survey request

[LisaContractorUmbrella]

I am putting together a list of things that your contract rates have to provide for - have I missed anything?

i. Additional National Insurance Contributions
ii. Periods where the contractor has no work available to them
iii. Periods of sickness when they are unable to work
iv. Periods when they may have suffered injury and are unable to work
v. Periods when they are on holiday
vi. Contributions to a pension scheme (as they are not eligible under auto-enrolment rules)
vii. Maternity pay for the first six weeks
viii. Being released early from a contract with no warning and no financial redress
ix. Accountancy fees
x. Insurance costs
xi. Training costs
xii. Legal costs
xiii. Promotion costs

And this is the stuff you don't get:

i. Free or subsidised Private Health Care
ii. Partial or non-contributory pension scheme
iii. Company Car (there will be a BIK attached to this obviously)
iv. Free or subsidised gym or sports club membership.
v. Interest free Season ticket loans
vi. Relocation packages
vii. Full maternity/paternity pay
viii. Maternity, paternity and shared parental leave above the Statutory minimum
ix. Training courses
x. Long service pay awards
xi. Redundancy pay
xii. Childcare vouchers

Again - have I missed anything?

[NonnyMouse]

What about things like equipment and software?

[pr1]

According to the response on the Dividend Tax petition the changes are netting the Government £500 million

remember IR35 (loss of) income is from disguised employees only - dividend tax change hits a lot more than that (i.e. all shareholders of all businesses)

[ContrataxLtd]

I am putting together a list of things that your contract rates have to provide for - have I missed anything?

i. Additional National Insurance Contributions
ii. Periods where the contractor has no work available to them
iii. Periods of sickness when they are unable to work
iv. Periods when they may have suffered injury and are unable to work
v. Periods when they are on holiday
vi. Contributions to a pension scheme (as they are not eligible under auto-enrolment rules)
vii. Maternity pay for the first six weeks
viii. Being released early from a contract with no warning and no financial redress
ix. Accountancy fees
x. Insurance costs
xi. Training costs
xii. Legal costs
xiii. Promotion costs

And this is the stuff you don't get:

i. Free or subsidised Private Health Care
ii. Partial or non-contributory pension scheme
iii. Company Car (there will be a BIK attached to this obviously)
iv. Free or subsidised gym or sports club membership.
v. Interest free Season ticket loans
vi. Relocation packages
vii. Full maternity/paternity pay
viii. Maternity, paternity and shared parental leave above the Statutory minimum
ix. Training courses
x. Long service pay awards
xi. Redundancy pay
xii. Childcare vouchers

Again - have I missed anything?

What about little things like computer equipment, mobile phone etc.

[TheFaQQer]

Again - have I missed anything?

Mobile phone

[LisaContractorUmbrella]

Thanks guys

[WordIsBond]

Additional to your list.

Things I don't get:
When I was permie I was in an Employee Share Ownership plan.
Could eat at company canteen.
Relevant Life Plan.

Have to buy:
- computer, printer, fax, copier
- mobile phone
- business telephone / Internet
- virus software
- misc other software
- business cards / stationery (maybe that's under "promotion")

[LisaContractorUmbrella]

This is really cheeky but I don't suppose anyone has the time (or inclination) to attach any kind of monetary figure to these costs/lost benefits?

[WordIsBond]

I'm spending about £800 / year on landline phone/Internet.

I budget £3K a year for computer hardware, but I'm buying more hardware than just mine, someone else might be £1K a year or less.

I guess you could use £100-200 year for software. That's going to vary widely. Some will spend almost nothing.

I'm around £200 / year for promotion.

For just my phone, £30 / month.

The employee share ownership plan I used to be in was probably worth an average £5K / year.

I'm probably older than most here so someone else should put a value on Relevant Life Plan and private health insurance.

I'm paying £1K a year accountancy fees. Others whose business is simpler than mine are probably paying less.

I get multiple small contracts not all of which I have reviewed for IR35 (anything less than two months isn't worth it). If the average guy has a contract every six months and has QDOS review them, he's spending £200 / year on legal costs.

My insurance needs are different, someone else should answer that.

Gym cost is £30 / month. I'm still an out of shape slob, but at least I feel good about trying twice a week.

[TheFaQQer]

This is really cheeky but I don't suppose anyone has the time (or inclination) to attach any kind of monetary figure to these costs/lost benefits?

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