Originally posted by TheFaQQer
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Contract Advice - Self Employed or Limited Company?
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Originally posted by deeniguy View PostHmm... Based on what you've said i have to agree that i'll be paying a crazy amount, seems its a much higher risk than i had thought
I'd rather avoid the hassle now and just stick with declaring inside ir35 to my accountant and he can sort out my PAYE.
If you could kindly advise on a seperate issue i have with opening a business bank account. I have been declined by Santandar, due to a low credit score unfortunately so i signed up with CashPlus instead and instantly had an account opened up. Ive checked and they seem to be regulated by FSA but how would you rate them from experience, if any?Comment
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Originally posted by lukeredpath View Posthow do you know this?
No right of substitution.
Direction and control in what is done and how.
Unless there is a decent lack of MoO clause (which reflects the reality), I'd bet on it being inside IR35.Comment
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Originally posted by TheFaQQer View PostGoing back to do a pretty similar job to a former employer, who they have recently left.
OP: working through a LTD company only really has advantages if most of your contracts are going to be outside of IR35. Think of it this way: even inside IR35, as long as you're getting paid a significantly higher rate as a contractor, then you're still going to be better off than before, regardless of how you're taxed, right?Comment
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Originally posted by deeniguy View PostNo i didnt mean 14% extra, i understand thsts what i need to return back to HMRC, the added extra would be the 6%
You invoice for £100 + VAT = £120
You pay HMRC 14.5% of £120 = £17.40
Your net gain is £2.60 or 2.6% of your ex VAT income.
Still worth having but not quite the 6% you were hoping for.Free advice and opinions - refunds are available if you are not 100% satisfied.Comment
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