NI Calculations

[psychocandy]

It's lucky you don't have to think to breathe.

#boredwithnluk

[northernladyuk]

#boredwithnluk

There is an Ignore button, if people are boring or annoying you.

[Lambert Simnel]

...because unlike tax NI allowances aren't cumulative (other than for directors).

Worth emphasising this point, however. Where you are a Director of accompany, the rules are amended to reflect the fact that you likely have control over the timing of your payments, and thus the Director's NI calculation is cumulative in the same fashion as Income Tax. If the OP is trying to manage payments to himself from his own company to minimise NI, then just altering the timing within the tax year won't make any difference.

[northernladuk]

#boredwithnluk

But it's not just me PC. I might be the most vocal but I'm certainly not the only one that comments.

Why don't you just do a bit of basic research rather than reach for a forum of people that have pretty low opinion of you? If you read up on NI, even the wiki page, it would have explained what Contrax told you and more. You might actually have learned something and be able to use that knowledge to answer your next brain fart and gain a good understanding of your topic rather than just flailing about in the dark.

A raft of lazy ill researched questions is going to attract the ire of your peers all day long.

[eek]

Worth emphasising this point, however. Where you are a Director of accompany, the rules are amended to reflect the fact that you likely have control over the timing of your payments, and thus the Director's NI calculation is cumulative in the same fashion as Income Tax. If the OP is trying to manage payments to himself from his own company to minimise NI, then just altering the timing within the tax year won't make any difference.

The OP is using an umbrella instead of a limited company and therefore no longer has the discretion the cumulative system previously offered him.

[northernladyuk]

But it's not just me PC. I might be the most vocal but I'm certainly not the only one that comments.

Why don't you just do a bit of basic research rather than reach for a forum of people that have pretty low opinion of you? If you read up on NI, even the wiki page, it would have explained what Contrax told you and more. You might actually have learned something and be able to use that knowledge to answer your next brain fart and gain a good understanding of your topic rather than just flailing about in the dark.

A raft of lazy ill researched questions is going to attract the ire of your peers all day long.

I rather look forward to the questions in a Jeremy Kyle guilty pleasure kind of way.

[Lambert Simnel]

The OP is using an umbrella instead of a limited company and therefore no longer has the discretion the cumulative system previously offered him.

Ah fair enough. I didn't see that mentioned in his post, but no doubt it's been mentioned elsewhere on the forum, and my casual/dilettante approach has left me in relative ignorance. (Or I read it, wasn't interested, and made no attempt to remember it )

[psychocandy]

The OP is using an umbrella instead of a limited company and therefore no longer has the discretion the cumulative system previously offered him.

Correct umbrella.

[psychocandy]

But it's not just me PC. I might be the most vocal but I'm certainly not the only one that comments.

Why don't you just do a bit of basic research rather than reach for a forum of people that have pretty low opinion of you? If you read up on NI, even the wiki page, it would have explained what Contrax told you and more. You might actually have learned something and be able to use that knowledge to answer your next brain fart and gain a good understanding of your topic rather than just flailing about in the dark.

A raft of lazy ill researched questions is going to attract the ire of your peers all day long.

NLUK - same old same old from you. I'm not getting into this again.

[northernladuk]

NLUK - same old same old from you. I'm not getting into this again.

Don't need to take it from me...

Bulletin Board Terms and Conditions :: Contractor UK

2. Do your research.

As a new forum member or a regular with a question please do your research. Here is an excellent post from one of our moderators that shows how to search the main site for information. There is also a search function on the forum that can be used. We do not like lazy questions and these will likely result in it being suggested that you do some research.

http://forums.contractoruk.com/welco...e-newbies.html

So basically, we will help where we can but we dislike lazy posting. If you find the above steps too much of a hassle, you deserve all you get.

HTH

Improve your attitude towards your research and your work and things will get a whole lot better for everyone. You might actually find you enjoy it as well, you know, finding something out for yourself rather than having to have it fed to you.