More bad news ...

[Protagoras]

As if things aren't bad enough for contractors, there are the rumours about salary sacrifice changes ...

https://moneyweek.com/personal-finan...e-under-threat

SalSac was about the only thing that made brolly working tolerable.

[SueEllen]

As they close a clearly defined and well known loophole less clearly defined ones open up.

It would be more efficient to rip up the tax book and start again. In doing so they can simply state if you run a scheme or are an employer trying it on, to try to deprive HMRC of money we will throw the book at you.

[northernladuk]

Erm... Isn't this bad for umbrella employees so doesn't affect proper contractors?

[willendure]

As if things aren't bad enough for contractors, there are the rumours about salary sacrifice changes ...

https://moneyweek.com/personal-finan...e-under-threat

SalSac was about the only thing that made brolly working tolerable.

Another article I read seemed to suggest it was only higher rate payers that would be targetted, but this one you linked give an average worker on £35K as an example. I mean how in hell someone on £35K is ever going to retire and live a decent life from 65 onwards seems unfathomable to me. They deserve a medal if they are going to be tucking some extra away throughout their whole working life just to have a little extra later on.

But yeah, never worked through an umbrella, but any time I have considered it its always been - whats the max I can channel into a SIPP to make this worthwhile?

[Protagoras]

Erm... Isn't this bad for umbrella employees so doesn't affect proper contractors?

Yep, pension contributions from gigs undertaken via one's LtdCo wouldn’t be impacted.