Top end guys don't have a ltd

[vetran]

I am all choked up.

You should change your Monday special then!

[ContractorHardman]

The point is, the additional overhead and hassle you go through to run a LTD just isn't worth it when your bringing in top dollar.

Yeah I could save 20% tax (I doubt it's that much)... But who cares. 80% of a pile is still a pile. And I have no hassle, and get my dough every two weeks instead of having to leave it in a company account and take a divvie. And I don't have to worry about IR35, business accounts, receipts, etc etc. I just stash some cash for tax and that's that.

I'm telling you, I'm not exaggerating - the majority of the big contractors are not running LTDs. But if you want to take the p1ss go for it. It's your lower level guys who do all that stuff- because they have too. Contracting at low levels is a one way ticket out of careerdom for them- so they have to do maximum milking. For those who chose their skill set with a wise long term view, who will come back in to senior perm roles on 100k+ at the end of contracting - it's not so important.

I know a BA who jumps through many hoops and pays 10% tax legally. Bores the life out of me he does- once he starts talking abour his complicated setup. The amount of flying he has to do, maintaining properties in various places- ridiculous, and a bit bad taste actually. I enjoy paying a lot of tax, since I take lot of dough out for doing not very much.

The energy is better spent learning a better skill that earns more money. Then kick back and define your lifestyle. That's true freedom. The hassle that you boys go through is beyond a joke- it's not freedom but another form of hardship. You're a slave to your accounts.

For the same reason, I didn't save any money when I was a permie in my 20s. I made sure I was doing work to set up my contracting career, and I partied all my permie income away. It was not efficient to save at those levels. I saved plenty once I started contracting. Why waste your time?

I am just messing with you pal! Thanks for the effort on the post though, I didn't read it! You may be at the top of your game but you are at the bottom of my concerns

[MrMarkyMark]

I like him actually, even if his username sounds like it comes from a governmental feminine hygiene recommendation

[sasguru]

Quiet afternoon in Portugal Sas ?

FFS do I look like an Aussie pole-choker to you (for that is who this is )

At least he's quite an entertaining troll, though.

[MaryPoppins]

I like him actually, even if his username sounds like it comes from a governmental hygiene recommendation

FTFY.


Hopefully.

[Flashman]

FFS do I look like an Aussie pole-choker to you (for that is who this is )

At least he's quite an entertaining troll, though.