Wife going contracting as well

[WordIsBond]

I'm not sure IR35 is as straightforward as it is for us..

In which universe is IR35 straightforward for anyone?

(insert obligatory rant that legislation should be clear and not rely on a confused mass of case law)

[northernladuk]

In which universe is IR35 straightforward for anyone?

(insert obligatory rant that legislation should be clear and not rely on a confused mass of case law)

Exactly. LOL. I was going to qualify that point at the end of my post but I didn't think it needed saying.

[Patrick@Intouch]

There are so many variables here and I can't help but feel that a full and frank discussion with an experienced professional should be your first and would be your best bet.

Your wife's contract and working practices would need a full review with a view to assessing the IR35 status.

What are her long term intentions? Is she likely to seek further contracting work?

What is her day rate? Is it even worth considering a limited company set up.

And more areas that would need to be addressed.

[northernladuk]

There are so many variables here and I can't help but feel that a full and frank discussion with an experienced professional should be your first and would be your best bet.

That would be his wife then?



or mine

[Alan @ BroomeAffinity]

Alan, you suggested umbrella. That puts her fully into PAYE and the umbrella takes their cut.

If we're going full PAYE anyway, why not just bill through his own LtdCo, pay her under PAYE, not change the share structure at all, and save the umbrella's share? Then, if she makes a go of it, likes contracting, and gets another contract, they could change the share structure then.

For all we know, his wife may already own shares anyway. But is there any reason what I proposed wouldn't work?

Even better, I think, he could sign the contract but then pay her as a self-employed subcontractor, which would let him out of PAYE and all that comes with it. After four months, add her to his Ltd or get her own, whatever makes the most sense for them.

An umbrella seems an unnecessary expense in this case, when he's got a company set up already.

Edit: Heh. NAT beat me to it.

Yeah. That'd be better on balance. Ignore me :-)

[northernladuk]

Yeah. That'd be better on balance. Ignore me :-)

Best advice you've given to date that

[Alan @ BroomeAffinity]

Best advice you've given to date that

I've never been so insulted since THEPUMA left. [emoji3]

[eldy]

This will be her first contract. Day rate is considerably more than mine and ive been contracting for over 3 years now. I hope she will enjoy contracting for many years to come and develop the right mindset for it.

She is a Chartered Accountant and as Alan says her skills are not really transferable to the requirements of a contracting company. She is happy to learn and hopefully at some point can then take over my accounts when she is comfortable.

It looks like company+ir35 insurance and travel/subsistance will be the main expenses she will be able to claim.

[SueEllen]

Just a thought. I'd look very carefully at the IR35 situation. The thread we had with an accountant wife turned out to be more complex than the initial question. When we dug in to it she was inside IR35 by the nature of her engagement. I don't know how accountants get contract work but if she's back filling for maternatiy or while they recruit it could be more like temping than contracting. She won't have RoS and they will expect her to be under D&C rather than deliver a specific piece of work. I am guessing there could easily be a case where she's just a bum on seat working with other employees for some reason which won't help.

I'm not sure IR35 is as straightforward as it is for us..

Accountants can get contract work the same ways we can. Through agencies and networking.

[MrMarkyMark]

Accountants can get contract work the same ways we can. Through agencies and networking.

I thought they just walked around wearing these