Am i paying too much Tax?

[DiscoStu]

The call the number on the website and I'll explain.

I'm quite happy with the return I get from my Ltd company. I'm curious as to why you won't give us a brief overview of how it works without calling you?

[Meades & Co]

I'm quite happy with the return I get from my Ltd company. I'm curious as to why you won't give us a brief overview of how it works without calling you?

It's simply because there are various options available according to the requirements of an individual. I also have to be aware of legal issues, NDA's, intellectual property rights and advertising on this site.

[Alan @ BroomeAffinity]

I've heard of a scheme where you can retain about 115% of your gross income. What you do, but keep this to yourself, is set up a ltd co and register it for VAT. Don't pay VAT, CT, PAYE etc to HMRC just keep it all to yourself. Its a risky strategy and its not for everybody but it depends on your risk profile!

[Pondlife]

I've heard of a scheme where you can retain about 115% of your gross income. What you do, but keep this to yourself, is set up a ltd co and register it for VAT. Don't pay VAT, CT, PAYE etc to HMRC just keep it all to yourself. Its a risky strategy and its not for everybody but it depends on your risk profile!

Sounds great.

As an aside, do HMP provide wi-fi these days?

[RichardCranium]

I've heard of a scheme where you can retain about 115% of your gross income. What you do, but keep this to yourself, is set up a ltd co and register it for VAT. Don't pay VAT, CT, PAYE etc to HMRC just keep it all to yourself. Its a risky strategy and its not for everybody but it depends on your risk profile!

It's worked for plenty of Australian contractors over the years. Do two years and go home.

[Alan @ BroomeAffinity]

Sounds great.

As an aside, do HMP provide wi-fi these days?

Probably. You can get Sky TV and a private shower so I don't see why not.

[Pondlife]

I'm amazed you're giving out this wonderful information for free.

Why not email me an NDA first and then give me the hard sell over the phone without illustrating any of the risks.

[Rupert Matthews]

Personally I am wary of anything that requires counsel's opinion in order to justify the artificially low tax rates created.

Especially when HMRC / Government have made it clear that restrospective taxation is something they are quite prepared to implement (BN66).

Working through your own limited company with an IR35-friendly contract is likely to be the best solution for the majority of mid-earning contractors.

The remainder should consider carefully whether the extra few percent is worth the additional risk.

[Alan @ BroomeAffinity]

I'm amazed you're giving out this wonderful information for free.

Why not email me an NDA first and then give me the hard sell over the phone without illustrating any of the risks.

I'm just trying to gain your confidence so that when you sign up I can convince you to "invest" 25% of your income into our Never See It Again Savings Plan.

[Pondlife]

I'm just trying to gain your confidence so that when you sign up I can convince you to "invest" 25% of your income into our Never See It Again Savings Plan.

I would prefer some arrangement where you lend me my own money. Is that possible?