Paystream Tax Application to Payroll

[Zigenare]

So they paid you for March on April 6th when they received the money and for April before May 5th (again when they received the money).

I doubt there is much you can do about that except ensure that your March 2024 work is paid for after April 6th 2024 - at which point the following will have occurred

Month 1 - 2 payments
Month 2-11 1 payment each month

Month 12 no payment so HMRC will need to refund you some income tax (on employee NI you will be ahead but will lose slightly on employer NI).

The other thing to add is while you may have paid £1500 too much income tax at the moment that will largely correct it self over subsequent months as the PAYE system will self correct things as time goes by.

Oh the joys of IR35...

Bottom line is if enough people refuse to accept inside IR35 roles then things will change!

[eek]

Oh the joys of IR35...

Bottom line is if enough people refuse to accept inside IR35 roles then things will change!

In a lot of cases it won't change. There is no way an organization (say a UK bank) that can't trust its staff to drag contractors inside IR35 will subject itself to a Chapter 10 investigation - less risk (and less cost once the risk is added) to outsource staff via a large consultancy..

And if they are an international firm they will all have experience of the IRS that says take the safer option...

[Zigenare]

In a lot of cases it won't change. There is no way an organization (say a UK bank) that can't trust its staff to drag contractors inside IR35 will subject itself to a Chapter 10 investigation - less risk (and less cost once the risk is added) to outsource staff via a large consultancy..

And if they are an international firm they will all have experience of the IRS that says take the safer option...

I understand but that's the organisation's problem. Educashun, Educashun and Educashun. Oh that and according to the consultancy firm I work through IR35 investigation insurance... Not a policy I agree with but what the hell I'm subcontracting through a consultancy firm to a multi-national defence company and everyone is happy.

[eek]

I understand but that's the organisation's problem. Educashun, Educashun and Educashun. Oh that and according to the consultancy firm I work through IR35 investigation insurance... Not a policy I agree with but what the hell I'm subcontracting through a consultancy firm to a multi-national defence company and everyone is happy.

It's not the banks problem - they have a solution that "works" for them. The problem it has created is for contractors where previously a bank would have 50 or so contractors on a project they currently have a total of 5, everyone else is via a consultancy.

Which tells me 2 things

1) things aren't going to change
2) going forward the market for contractors isn't what it used to be.