You can write "President and CEO" on your YourCo business card, it doesn't change the facts.
A Ltd is NOT the most sensible structure for a contractor, we use them because it's the most efficient way of working not because we want to start up a business. Contractors decide "I want to go contracting" not "I want to run a business".
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Petition to get the gov to reconsider the dividend tax changes
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Originally posted by d000hg View PostPaying both sides of NI doesn't really make sense either. We may legally be a company with one person but most of us aren't necessarily employees of our companies anyway and the fact is, a Ltd is just a convenience/necessity for contractors. A special 1-ban-band/PSC setup could make sense, since/provided one could transition to a regular Ltd easily if you end up being more of a 'proper' business. Or some sort of protection for sole traders so that agencies/clients are not scared of using them.
No, how about feck off, I run a proper legal limited liability company in the same way as anyone else. It is not a PSC or other such meaningless bulltulip. It is a VAT registered, tax paying business, that takes risk, performs services, submits invoices, hopes for payment, sends in the legals for non payment, just like every other business.
Go **** yourself with your bulltulip.
HTH BIDILeave a comment:
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Paying both sides of NI doesn't really make sense either. We may legally be a company with one person but most of us aren't necessarily employees of our companies anyway and the fact is, a Ltd is just a convenience/necessity for contractors. A special 1-ban-band/PSC setup could make sense, since/provided one could transition to a regular Ltd easily if you end up being more of a 'proper' business. Or some sort of protection for sole traders so that agencies/clients are not scared of using them.Leave a comment:
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Originally posted by pr1 View Postnluk's implication was that it didn't matter because it wouldn't affect his lifestyle (i.e. not based on fair/unfair)Leave a comment:
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Originally posted by pr1 View Post(I'm only playing devils advocate, I think we should all pay PAYE but no employers NI, which I think the div tax will align to in the near future)
If you're genuinely in business you should be free to act like a business which just happens to have one employee. Which means the employee pays the full amount of tax on what they actually earn, and the business is free to keep profits in the company to smooth out any future peaks and troughs. The worse thing about IR35 is that it taxes you on the company's income for that year whether you've personally earned it or not. They should sort that out, get rid of the reporting requirements of one man companies (and so saving us all money spent on accountants), and apply the expenses rules in a way that treats permies and contractors equally, and I'd think that would be fair to all.Leave a comment:
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Originally posted by d000hg View PostYou could say the same about income tax or personal allowance. Rejecting something that's fair because it might end up being unfair doesn't seem that sensible. At this rate, by the time they do what you suggest we'll all be in IR35 anyway.Leave a comment:
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Originally posted by pr1 View Postmaybe at 7.5%, what about at 10%? 12.5%? 15%? What about if the 5k free limit reduces to zero?Leave a comment:
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Originally posted by AtW View PostI can't remember 100%, but pretty sure the box was whether the company was PSC.
For me the answer was no.Leave a comment:
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Originally posted by northernladuk View PostAbsolutely this. I can't remember too much that hasn't gone our way in recent budgets. Many other groups have been hit year on year. Something was going to happen eventually. Yes it narks me but isn't going to affect my lifeatyle. The other issues however.....
it's not going to happen, but the time to challenge it is now, not when it's been introduced and they start creeping it up 1 or 2% per year
(I'm only playing devils advocate, I think we should all pay PAYE but no employers NI, which I think the div tax will align to in the near future)
edit: I'm also not signing the petitionLast edited by pr1; 2 September 2015, 08:08.Leave a comment:
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Originally posted by Ticktock View PostI avoided checking the box because it went on to say something about "and operated within IR35".
For me the answer was no.Leave a comment:
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