Help! How should I get paid?

[Zippy]

I'm going to have to love you and leave you. Going for a drink with Norrahe.

Keep the home fires burning

[cailin maith]

I'm going to have to love you and leave you. Going for a drink with Norrahe.

Keep the home fires burning

Have fun!!

[Zippy]

Have fun!!

You too! GIve young Pogle a hug for me.

[pzz76077]

I have a potential new job. The boss has a budget of £30ph to pay for my services. He has to employ me as a locum/temp/contractor, not permanent, and probably on a 6 month rolling basis, and I'm trying to work out the most tax efficient means.

A limited company seems the best route.

I have a million questions and I'm prepared for the flames - I've tried to read about this and just end up more confused.

My calculation for what I can get paid is:

Figure paid by employer
minus VAT (which I might be able to get flat rated at 12%)
minus my company's Employer NI (12.8% of whatever salary I elect to give myself)
minus corporation tax (which looks like 20%) on remainder minus salary and deductible expenses.
minus dividend tax on any dividends I pay myself over the high-tax-rate threshold (at 40%-20%=20%)
minus my employee's NI (at 11%) on my salary
minus income tax on my salary minus my employee NI

On £30ph, with an arbitrary salary of £5ph I make that:

30-3.6-0.64-4.152-0.55-0.89= £20.168 which is 67.23%

Does that look about right, and is this all dependent on this nebulous "IR 35" I seem to keep coming across?

Then it is for my ltd company to invoice my boss each month.

What fundamental flaw am I missing?

Thanks for any help anyone can offer.

If I were you, Id ask for cash in the hand 3 months in advance, thats usually acceptable to most co's I have worked for in the past.
If they don't accept this, then I wouldn't touch them with a bargepole. Move on until you get one that will work on your terms, theres loads of contracts around at the moment so dont put up with any flannel.
HTH

PZZ

[Board Game Geek]

<Ding Dong !>

Hi everyone, sorry I'm late.

I got a bit tied up at my last visit.

Well, not me exactly, but you know what I mean.

Right...<hefts a massive flightcase on wheels over the step and along the hall way>.

Where do you want me to set up the gear, and who's the party Gimp ?

ps..OP: At £30 p/h, Go Umbrella Company. Saves hassle. It's only those on several hundred a day who benefit with Ltds.

[Confusedcontractor]

It seems your moderators feel you need to be able to flame without any comebacks so my two attempts to thank the posters with serious advice have been quarantined.

I'll leave you to your virtual mutual teabagging. You crazy guys! And your crazy forum. You know how to have fun. That's for sure.