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Recent content by LA1
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Quick question - NI Calcs
Paymatters is correct - The expenses and employers NI are not part of your taxable income. In the same way that the employers NI is not part of the salary of a perm employee. If the website quoted implies that the gross payment should be used, it's wrong. This would be like paying tax/NI on...- LA1
- Post #10
- Forum: Accounting / Legal
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L
Admin fee to Opt-in to Conduct Regs
Why would you want to Opt In anyway? Opting in means you want employment rights. In other words you see yourself as an employee. This will immediately put you Inside IR35 based on your working practice. I thought the idea was to show we are geniunely in business and NOT employees????- LA1
- Post #16
- Forum: Accounting / Legal
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Paying too much salary?
You realise that by OPTING IN you automatically give yourself employee status for every contract ie you will fall INSIDE IR35 regardless of the contract wording. If you want employment rights then you are an EMPLOYEE. Dividends are therefore illegal and if you are investigated you will be...- LA1
- Post #40
- Forum: Accounting / Legal
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L
Best Options for a UK Working Holiday (from Australia)
You would be entitled to the 5% deemed payment allowance if you use your own ltd but its not just an allowance, you have to have business costs of 5% in order to get the relief. Your costs thru an Umbrella are unlikely to be 5% as typically their fees are £15 - £30 a week. Also you are anly...- LA1
- Post #10
- Forum: Accounting / Legal
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L
Summing up Taxation in Holland/EU
Netherlands have a diferent rule to the UK and resiency status is not a factor. You will be liable to Dutch tax from day one. Double tax treaty rules should still apply. If going thru a service company they must be registered under Dutch rules.- LA1
- Post #9
- Forum: Accounting / Legal
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L
LTD calculator
As it doesnt ask you about expenses, you can assume they are offsetting as much as they can ie travel, hotels, business expenses etc. The chances are that you would never be able to offset half of these. Many companies put these misleading calculators on their websites. The only way to know...- LA1
- Post #2
- Forum: Accounting / Legal
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L
umbrella or Ltd??
In answer to your original question, if she is returning to do the same or a similar role then the short gap makes no differnce she will fall inside IR35. If the role is substantially different then if the contract and her working practice are both strong then she could fall outside IR35. She...- LA1
- Post #7
- Forum: Accounting / Legal
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L
IS this Legal?
Was worried about your comment above but when I checked there are links to news around the budget etc not just from last year so it obviously has been updated since. I use their Outside solution (LLP) which gives me self employed status therefore save loads as no Ers NI. I am only allowed to...- LA1
- Post #23
- Forum: Accounting / Legal
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L
Final Stance on IR35
If your contract falls Inside IR35 you cannot take a dividend payment. All earnings must be paid as salary. Therefore there are no profits to take as dividend. This means all business expenses such as accountancy fees, company house filing fees, etc must be paid from your net salary. You are...- LA1
- Post #9
- Forum: Accounting / Legal
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L
what about partnerships ?
I work thru a LLP my status is self employed therefore I can offset all business expenses etc, pay very little NI as only class 2/4 due(1% after £33.000), and as Limited Liability, I am not affected by any other partner. Agencies OK with this as they pay my payroll provider(a ltd co) and they...- LA1
- Post #16
- Forum: Accounting / Legal
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L
Is or has anyone used No Longer Ltd before?
The following link to HMRC website explains the deemed payment allowance. http://www.hmrc.gov.uk/manuals/esmmanual/ESM3145.htm As you will note the first deduction from the amount received is the 5% then expenses followed by employers NI. Tax and NICs are then applied to the remaining figure.- LA1
- Post #5
- Forum: Accounting / Legal
