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Recent content by acitizen

  1. A

    newbie tax question

    Thank you! It turns out I can live on less than that, so this is something to investigate carefully.
  2. A

    newbie tax question

    Correct. I think they may be willing to replace it with a contract with an ltd company if there was a sufficiently strong reason. But there does not seem to be. I am sufficiently different from most of their employees, and they have no-one capable of understanding what I do in sufficient...
  3. A

    newbie tax question

    The last thing I would object to, I suppose. I would expect them to turn me into a permanent employee if I am still with them in two years. Anyway, their lawyers have thought about it, and it's their preferred method. As I mentioned in a previous post, this is a big-name company with significant...
  4. A

    newbie tax question

    Actually, I am pretty sure they have. The contract says I am not their employee, and should send them a bill every month for an amount stated in the contract. I have worked on a similar basis before, although the earnings were trivial there (no complaints from HMRC either). This is a big-name...
  5. A

    newbie tax question

    This is not for me, I am afraid. Schemes that reliably work cannot generally be kept secret for long. There are 10s of companies busy advertising "we will save you a lot of tax, the only thing is that you are not allowed to know how". The limit of what I am looking for would be a scheme...
  6. A

    newbie tax question

    Many thanks for the clear explanation. The question that remains is why would anyone bother to set up a company solely to avoid class 2 and class 4 NI when the cost of doing so is a sizeable proportion of the saving, and there is a risk of life-changing harassment by the HMRC?
  7. A

    newbie tax question

    16k would be worth worrying about, but the difficulty I see is that the only way to find out what you would do for me is to pay someone for giving me an approximate version and saying "trust me, it's OK" (quoting an earlier post): I foresee some difficulties here: i) I need to trust some...
  8. A

    newbie tax question

    Many thanks. Is this in any way specific to being a contractor, or does it also work for anyone in normal employment?
  9. A

    newbie tax question

    Many thanks for that. I don't need to use up the personal allowance, so that leaves me an extra £600 odd better off going down the dividend route (but at under £3k the difference is still not worth worrying about).
  10. A

    newbie tax question

    Both threads seem to require prior knowledge, but google and wikipedia suggest that i) the only argument about BN66 is whether it applies retrospectively, and ii) EBTs don't work any more. Both of these illustrate that tax avoidance strategies are short lived. This sort of uncertainty is...
  11. A

    newbie tax question

    Only on dividends over the HR threshold, and it is exactly 40% in total since the income is only 100k. Anyway, the important point was that this part of the tax liability was the same whichever way I sliced it for the HMRC, so does not matter when deciding which route to take (?)
  12. A

    newbie tax question

    I have had a look through an awful lot of ads offering to avoid tax on contracting income. My question is basically to what extent is it worth bothering, seeing as the vast majority of the advertisers are at best keen on being misleading and at worst outright lying (retain 90% of your pre-tax...
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  1. Contracting
    1. General
      1. Brexit
    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
    5. Welcome / FAQs
  2. Social
    1. Light Relief
    2. Social / Events
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