New contractor help

[elsergiovolador]

Inside IR35 is really a contractor? Sounds more like a no rights employee to me.

[fidot]

Not quite true but its not a simple process like PAYE - How to claim a National Insurance refund | AccountingWEB

Thanks. I didn't know this and stand corrected. However, in this case, I can't see that any of the mentioned circumstances apply.

[andydd68]

Thanks. I didn't know this and stand corrected. However, in this case, I can't see that any of the mentioned circumstances apply.

True..although might be a common scenario.i.e someone gets well paid contract for a month for lets say £8k a month, the umbrella would assume that salary would be £96k so just NI would be a lot..but what if he only works one month and actualy owes no PAYE nor NI, anyone know this scenario ?

[fidot]

True..although might be a common scenario.i.e someone gets well paid contract for a month for lets say £8k a month, the umbrella would assume that salary would be £96k so just NI would be a lot..but what if he only works one month and actualy owes no PAYE nor NI, anyone know this scenario ?

I believe the contractor would still owe the NI as it is worked out on a weekly or monthly basis.

[elsergiovolador]

True..although might be a common scenario.i.e someone gets well paid contract for a month for lets say £8k a month, the umbrella would assume that salary would be £96k so just NI would be a lot..but what if he only works one month and actualy owes no PAYE nor NI, anyone know this scenario ?

You can reclaim it through self-assessment and wait for a cheque from HMRC. May take even a year or so...

[northernladuk]

You can reclaim it through self-assessment and wait for a cheque from HMRC. May take even a year or so...

Absolute rubbish... as usual.

[Peoplesoft bloke]

Is contracting still a lucrative despite government taking so much for most people on here ?

No it isn't.