Originally posted by skysies
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What's your retention rate?
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Originally posted by BrilloPad View PostIf you think changing your accountant will make any difference you need serious help.
BooComment
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Originally posted by Boo View PostYes, that or a new accountant...
BooComment
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Originally posted by mattfx View PostI heard if you have a wife who's qualified as an accountant you can claim her on expenses - at least £500/month. Someone on a forum somewhere said £1000 - may as well go big.. That'd help your retention some.I was an IPSE Consultative Council Member, until the BoD abolished it. I am not an IPSE Member, since they have no longer have any relevance to me, as an IT Contractor. Read my lips...I recommend QDOS for ALL your Insurance requirements (Contact me for a referral code).Comment
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Originally posted by psychocandy View PostYeh I used to do about 82% if I remember correctly.
Minimal salary, fair bit of expenses, split divs with the mrs (so neither of us went into upper tax bracket).
Now inside IR35 PS using umbrella - dont ask its something like 51%.Comment
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New contractor chap here in Dubs has an Irish Ltd, freely tells all and sundry he employs his wife and three kids who transfer the money back to him, pays zero tax.
He's Windows though....Comment
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Originally posted by stek View PostNew contractor chap here in Dubs has an Irish Ltd, freely tells all and sundry he employs his wife and three kids who transfer the money back to him, pays zero tax.
He's Windows though....See You Next TuesdayComment
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Originally posted by stek View PostNew contractor chap here in Dubs has an Irish Ltd, freely tells all and sundry he employs his wife and three kids who transfer the money back to him, pays zero tax.
He's Windows though....Comment
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Originally posted by Lance View PostI used to work with a Windows guy who did similar. When asked if he thought it was risky he just said 'nah. I just start a new LTD every year so they'll never find me'Comment
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Retention rates are completely arbitrary
If you make £15k a month.
1. Draw a £700 salary and £2500 dividends and expense £500, then you have a mad hot retention rate.
2. Same as above but take £5k dividends, your retention rate drops substantially.
2. is better off every month because he has around £2k more to spend (lets say pays £500 more in tax). He can afford a large mortgage, so lives in a nice area. Better car. Better holidays. Better life?Comment
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