I am one of a minority for whom my contracts tend to be within IR35 in the private sector (I operate through MyCo, not an umbrella). I pay most of my income in a 'full salary' therefore, in line with IR35 rules. Each year I determine my salary to allow for a 'soft landing' at tax year end/ my company year end (both today) i.e. I try and get to the stage where I anticipate my cash flow and pay myself via PAYE as I go along, 'smoothly' and only vary the March / Month 12 salary as little as I have to. This just makes personal budgeting easier.
Anyway, I have been using HMRC's downloadable Excel calculator to facilitate this for years - it has a drop down to enable it to be used for multiple tax years but for some reason this year they haven't updated it for 2017/18. Can anyone tell me why? Am I missing something?
Obviously I am aware of the public sector IR35 changes and that the 5% 'expenses allowance' doesn't apply to public sector contracts. But I'm in a private sector contract and as far as I'm aware, the calculator still works in exactly the way it should for me.
I've used the 2016/17 dropdown as the way I'm doing it, it doesn't matter much because I'm targeting a zero deemed employment payment anyway (by means of increasing my salary and/or pension contribution) so with no residue, it doesn't matter if the 2016/17 NICs rates are applied rather than 2017/18 as there's a zero balance to apply them against.
But it nags at me and makes me wonder what I'm missing!
The spreadsheet I'm talking about is the one linked to in this article:
https://www.gov.uk/guidance/how-to-c...oyment-payment
Anyway, I have been using HMRC's downloadable Excel calculator to facilitate this for years - it has a drop down to enable it to be used for multiple tax years but for some reason this year they haven't updated it for 2017/18. Can anyone tell me why? Am I missing something?
Obviously I am aware of the public sector IR35 changes and that the 5% 'expenses allowance' doesn't apply to public sector contracts. But I'm in a private sector contract and as far as I'm aware, the calculator still works in exactly the way it should for me.
I've used the 2016/17 dropdown as the way I'm doing it, it doesn't matter much because I'm targeting a zero deemed employment payment anyway (by means of increasing my salary and/or pension contribution) so with no residue, it doesn't matter if the 2016/17 NICs rates are applied rather than 2017/18 as there's a zero balance to apply them against.
But it nags at me and makes me wonder what I'm missing!
The spreadsheet I'm talking about is the one linked to in this article:
https://www.gov.uk/guidance/how-to-c...oyment-payment
