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This is quite a useful site for ltd co's http://www.taxationweb.co.uk/Originally posted by milanbenes -
Two things wrong with that article:
1. It leaves the impression that all contractors incorporate purely to avoid tax and NICs. Which is incorrect.
2. The following has been written in a way that suggests that contractors pay no NICs at all:The "self-employed" bit is inaccurate as well.Personal service companies.
Unaffected by the Budget. Taxed at company rate and exempt from national insurance. Workers must prove that they are self-employed.Comment
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Gosh, it is really quite shockingly wrong. Wondered if it was an April fools at one point. Done a "Have your say" feedback.Insanity: repeating the same actions, but expecting different results.
threadeds website, and here's my blog.
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I tried that - it seems to have broken.Originally posted by threadedComment
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The article states:
Personal service companies.
Unaffected by the Budget. Taxed at company rate and exempt from national insurance. Workers must prove that they are self-employed.
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As the company rate will rise to 22%, 'Unaffected by Budget' is absolute nonsense. Also employees with low salaries pay more tax due to the abolition of the 10% band, which I believe was again aimed at Personal Service Companies, although the side-effects are to hit about 3m low-earners who can ill-afford to pay this extra 'stealth' tax, masquerading as a tax cut.Comment
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lauged when I read about the contractor who earns £1.5K a day but doesn't want to manage her own affairs. 1 days work and she can pay the annual accountant charges.Comment
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and have enough left for HDTV!Originally posted by TheRightStuff
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£1.5k per day
How the hell do they live on that?!?!??
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ask Sally.Originally posted by kirk £1.5k per day
How the hell do they live on that?!?!??Comment
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