• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

IndyRef2 : This time it's war!

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

  • agentzero
    replied
    Originally posted by ladymuck View Post

    It's been possible to register a company in Scotland since 1856. I guess your idea of 'a few years ago' is a bit different to mine.

    https://www.nrscotland.gov.uk/resear...s#Registration
    I should have worded it with additional "...if you want to get any contract signed."

    Up until 2018 you had sod all chance of getting an agency to agree to have a Scottish Ltd Company provide PSC equivalent services. I know two people who had to set up English Ltd Companies instead. Agents being quick to ask if I had a Scottish Ltd Company and that they hoped not, prior to contractor friends having issues, suggested it wasn't a good idea.

    As a guess, I expect many end clients were based in England and even Scottish agencies having formed English Ltd Companies resulting in domains being rightly or wrongly limited to England only.

    Leave a comment:


  • agentzero
    replied
    Originally posted by Mordac View Post

    If you are a resident of Scotland, you will be taxed at Scottish rates for personal tax. (Until you decide to move to the right side of the border .)
    For PSCs this doesn't apply. Salary is the same as yours. For most here it's £8840 + dividends of £41430.

    Leave a comment:


  • Whorty
    replied
    Once the Scots see all the successes of B****T then they'll be begging to stay part of the UK .... where are we at so far?

    Return of Pounds and Ounces
    Queens mark on pint glasses
    Part trade deal with US on sheep
    More powerful hoovers (are we getting that, it was the EU who took away our suckers, surely we get them back now)
    All car reg numbers must change their plates to UK and not GB

    Anything I've missed? Yeah, the Scots will be gagging to stay in the UK

    Leave a comment:


  • Mordac
    replied
    Originally posted by agentzero View Post

    The nuances are in the data sets. As this is a contractor forum:

    If you're a Director of a Limited Company formed in England, which was all Limited Companies up until a few years ago, then your corporation tax, dividend tax and income are considered to be in England, even if you reside in Scotland.

    When tax intake figures are published they are incorrect, because those who are resident in Scotland but Directors of Limited Companies - PSC or more than one Director, are monetarily considered to be in England. This is a flaw in the stats that, as you can imagine, lessens the number of higher rate tax payers in Scotland quite a bit.
    If you are a resident of Scotland, you will be taxed at Scottish rates for personal tax. (Until you decide to move to the right side of the border .)

    Leave a comment:


  • DoctorStrangelove
    replied
    Originally posted by SimonMac View Post

    Click image for larger version  Name:	giphy.gif Views:	0 Size:	2.40 MB ID:	4183581
    would have done.

    Leave a comment:


  • jamesbrown
    replied
    Originally posted by ladymuck View Post

    It's been possible to register a company in Scotland since 1856. I guess your idea of 'a few years ago' is a bit different to mine.

    https://www.nrscotland.gov.uk/resear...s#Registration
    All the evidence points to agentzero being a Borg.

    Leave a comment:


  • vetran
    replied
    Originally posted by ladymuck View Post

    It's been possible to register a company in Scotland since 1856. I guess your idea of 'a few years ago' is a bit different to mine.

    https://www.nrscotland.gov.uk/resear...s#Registration
    Well you are getting on a bit!

    Leave a comment:


  • ladymuck
    replied
    Originally posted by agentzero View Post

    The nuances are in the data sets. As this is a contractor forum:

    If you're a Director of a Limited Company formed in England, which was all Limited Companies up until a few years ago, then your corporation tax, dividend tax and income are considered to be in England, even if you reside in Scotland.

    When tax intake figures are published they are incorrect, because those who are resident in Scotland but Directors of Limited Companies - PSC or more than one Director, are monetarily considered to be in England. This is a flaw in the stats that, as you can imagine, lessens the number of higher rate tax payers in Scotland quite a bit.
    It's been possible to register a company in Scotland since 1856. I guess your idea of 'a few years ago' is a bit different to mine.

    https://www.nrscotland.gov.uk/resear...s#Registration

    Leave a comment:


  • Paralytic
    replied
    Originally posted by agentzero View Post
    If you're a Director of a Limited Company formed in England, which was all Limited Companies up until a few years ago
    Eh? What on earth makes you think that?

    Leave a comment:


  • agentzero
    replied
    Originally posted by Mordac View Post

    Once they get to set their own tax rates (rather than tweaking the UK rate) I don't think there will be any higher rate taxpayers left in Scotland.
    The nuances are in the data sets. As this is a contractor forum:

    If you're a Director of a Limited Company formed in England, which was all Limited Companies up until a few years ago, then your corporation tax, dividend tax and income are considered to be in England, even if you reside in Scotland.

    When tax intake figures are published they are incorrect, because those who are resident in Scotland but Directors of Limited Companies - PSC or more than one Director, are monetarily considered to be in England. This is a flaw in the stats that, as you can imagine, lessens the number of higher rate tax payers in Scotland quite a bit.

    Leave a comment:

Working...
X