Originally posted by Ivor1
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How much to pay oneself through Ltd Company ?
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Originally posted by Jay54Are you MAD or just taking the p***? dont you know going offshore is like holding up a red flag to IR saying come and get me cos its not the offshore company that gets the bill when IR35 comes a knocking at your door, it will be you who pays. How do you feel now?"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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Originally posted by PaddyAnother offshore company owns the UK limited company as well. The Offshore company has anonymous directors. My domicile is Isle of Man. If the IR come they can have two fingers. My bank is the Jersey (HSBC) which is nice because the agents like the thought of HSBC, I just give them the sort code and they think it’s on the mainland.Comment
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Originally posted by Mark CrossanI know contracgtors who are not being paid anything other than divi's which is really taking the p***. If you are earning the income of your company then you shoud be paid for that.
Take the advice of a good accountant. Pay minimum wage. Carry Tax Investgation Insurance. Sleep at night."Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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Originally posted by DennyThe are easily recognisable because they refer to EBs as agencies, believe that those who do 'add value' (which most thankfully recognise as being rare) 'find them a job' or else they refer to their business negotiations as 'interviews' and send 'CVs' off to the agency.'
I would say less than 10 per cent on here are truly outside IR35 with marketing literature, good direct clients they can use between EB contracts, rights of substitution in practice and on paper, outside client control by working as and how and where they like with the fee that is meant to reflect meeting client deadlines rather than being paid for their time (on site). The proof the the pudding are those topics raised about what a contractor should say to their current client when other work comes their way. For real businesses, truly operating outside IR35, this is as relevant or as worrying as asking your clients permission to blow your nose. Most businesses, in case, you didn't know do work for multiple clients simultaneously, in case you didn't realise.
The majority on here are pseudo IT employees with a stitched up IR35 friendly contract looked over by Bauer and Cotterall or Qudos who take a fee for old rope (because they don't actually know what working conditions will be like on site). Therefore, most contractors are working on site, full time under client control for a contracted period, just like any other fixed term employee, moan about putting in extra hours for no pay, are paid a daily or hourly fee in leiu of pension, holidays etc for their time not their work. They should be paying tax on most of their income, minus 5% not just a proportion of it.
Get off your fecking high horse...
Older and ...well, just older!!Comment
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C'mon, it was Denny
Originally posted by ratewhoreThis is the biggest pile of horsetulip I have read on this board for ages. EBs/Agencies/interviews/business negotiations. FFS, get a grip on reality! I have direct customers and I also go through, wait for it, an agency. Said agency gets me interviews. Yes - I interview for contracts. And then what? If the client wants me, I negotiate with the agent.
Get off your fecking high horse...
Why not?Comment
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apologies, I felt moved to say something on behalf of those of us from the planet real life...
Older and ...well, just older!!Comment
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Provided you are not caught by IR35 then the salary you pay can be anything you wish (you may need to consider pension plan arrangements) I generally advise around the minimum wage and dividends each month.
There is nothing naughty about paying a lower salary and topped up with dividends provided they are paid from profits and you pay the taxes on them.
No higher rate tax is due on dividends until your total gross income exceeds £38,335 (2006/07)
I hope this helps
AlanComment
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This is the biggest pile of horsetulip I have read on this board for ages. EBs/Agencies/interviews/business negotiations. FFS, get a grip on reality! I have direct customers and I also go through, wait for it, an agency. Said agency gets me interviews. Yes - I interview for contracts. And then what? If the client wants me, I negotiate with the agent.
Reminded me of Michelle off of the Apprentice last year. 'Managing direct of her own firm' and 'Takes home 100 Grand a year'. Needless to say when Sugar asked her why she wanted to quit her own firm where she was boss etc. and come work for his she didn't really have an answer - mainly because 'owns her own firm' isn't really as impressive as 'works as a contractor' is it??Comment
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