IR35 - how many investigations per year?

[prozak]

I used the defaults on that IR35 Calc website.

I did warn in my post above that it was dodgy analysis.

Sure pick it apart if you like. But I wont be defending my calculations.

[prozak]

How did you calculate the CT + VAT figure? My calculations comes to 38946. Did you put in 20% as VAT, that you charge? The reality is the you pay 14.5% or whatever

How did you get 14.5%? Is this the flat rate amount?

All my invoices are vat at 20%.

[craig1]

Financials and insurance companies don't charge VAT do they?

Any other companies that don't charge VAT?

Do they get the VAT back in another way?

If the companies have a negative VAT liability then they get the repayment when they submit the return.

[rd409]

How did you get 14.5%? Is this the flat rate amount?

All my invoices are vat at 20%.

20% is what you charge your client, and that is what they claim back from their VAT liability. But if you are on FRS, then you dont pay all the 20%, but only part of it. IT consultants, pay 14.5%, so that figure.

[prozak]

20% is what you charge your client, and that is what they claim back from their VAT liability. But if you are on FRS, then you dont pay all the 20%, but only part of it. IT consultants, pay 14.5%, so that figure.

OK. But how many are on Flat Rate?

Not me.

[DaveB]

OK. But how many are on Flat Rate?

Not me.

An awful lot of us. It saves you at least a couple of hundred pounds a month, unless you are over the threshold and billing for more than £187k a year (IIRC).

[prozak]

An awful lot of us. It saves you at least a couple of hundred pounds a month, unless you are over the threshold and billing for more than £187k a year (IIRC).

Eh. I investigated it but didn't think it was worth it.

Can't remember why exactly.

[dx4100]

Eh. I investigated it but didn't think it was worth it.

Can't remember why exactly.

Unless you are buying a lot of goods then it's a no brainer I thought?

[malvolio]

Unless you are buying a lot of goods then it's a no brainer I thought?

Or paying hotel bills?

[Wanderer]

Eh. I investigated it but didn't think it was worth it. Can't remember why exactly.

Probably because you have an awful lot of expenses.

I joined the FRS because I'm fortunate enough not to have to travel on business very much so my expenses are low and it saves a lot of admin hassle.