Originally posted by Old Greg
View Post
- 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!
24% corporation tax
Collapse
X
-
Work in the public sector? Read the IR35 FAQ here -
I really came into contracting at the wrong time.
Increase in 5% of corporation tax and then an increase of 12.5% dividend tax on ~ £40,000 will be killer.
Unfortunately I am one who has lost out a lot due to Covid, haven't been a contractor long, received almost nothing from the government and probably be hit by tax rises.
I think that I with many others will have to consider the difference in perm roles Vs contract.
The difficulty for me is that my work is usually 1-2 years in companies and quite specific i.e moving around. However taking the risk of not having a contract for the same pay will be very difficult to justifyComment
-
Originally posted by LateContractor View PostI really came into contracting at the wrong time.
Increase in 5% of corporation tax and then an increase of 12.5% dividend tax on ~ £40,000 will be killer.
Unfortunately I am one who has lost out a lot due to Covid, haven't been a contractor long, received almost nothing from the government and probably be hit by tax rises.
I think that I with many others will have to consider the difference in perm roles Vs contract.
The difficulty for me is that my work is usually 1-2 years in companies and quite specific i.e moving around. However taking the risk of not having a contract for the same pay will be very difficult to justify
HTH.
Comment
-
Originally posted by jamesbrown View PostNeither of those two things is going to happen. The second of those two things wasn't even among the kites flown.
HTH.
Comment
-
Originally posted by LateContractor View PostI hope so. As mentioned, I only got into the contracting market 1.5 years ago and really do appreciate advice of people who have been here for a longer time on this forum
The problem in recent years is that any old Treasury memo like, say, "Outrageous Options For Ministers To Consider That Will Never Happen, But Are Included Here For Completeness" gets leaked with intent, as though it's core policy (e.g., to damage or build pressure against the Chancellor) and the Treasury itself also engages in massive kite flying to render palatable the far more mundane tax hikes when they finally arrive, as does No. 10 ("Boris to the rescue, vetoes all tax hikes"). Budget speculation is always a clown car. No doubt they are seriously considering some tax rises, mainly for later this Parliament, but these headline grabbing ones are pure fantasy.Comment
-
Originally posted by OwlHoot View PostYep, and cancel the insanely outdated HS2 project. That will add £100 billion to the pot immediately (actually, probably double that or more by the time the massive white elephant is complete).
I really wonder if Boris is firing on all cylinders pressing on obsessively with HS2. If he thinks it will "connect northern voters" or some such utter bollocks, he is living in a bubble so imprenetrable that no known material outside Larry Niven's science fiction novels could match it!
Work in the public sector? Read the IR35 FAQ hereComment
-
HS2 actually creates capacity on the most crowded local commuter lines, because Inter-City trains also run on the same lines as commuter trains. This is a problem, as these commuter lines are the most overcrowded. The two choices are to either take Inter-City trains off the current commuter lines or build extra commuter lines. Both of these probably will have similar costs. Therefore stopping HS2 probably won't save money.I'm alright JackComment
-
Originally posted by BlasterBates View PostHS2 actually creates capacity on the most crowded local commuter lines, because Inter-City trains also run on the same lines as commuter trains. This is a problem, as these commuter lines are the most overcrowded. The two choices are to either take Inter-City trains off the current commuter lines or build extra commuter lines. Both of these probably will have similar costs. Therefore stopping HS2 probably won't save money.
Instead they talked about speed and didn't even mention the capacity issue.merely at clientco for the entertainmentComment
-
24% of £0 doesn't sound all that bad from a future tax perspective to be honest. About the same as my current situation of 18% of £0.Comment
-
Originally posted by pjt View Post5% is a pretty big jump!Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment