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Recent content by rascal

  1. R

    Gary Lineker scores against IR35 & HMRC

    EDIT: Ignore this. Apparently he used a General Partnership and not a Limited Company so IR35 did not apply for that reason. https://www.theguardian.com/football...r-49m-tax-bill So, contract directly with the end client, and IR35 doesn't apply. Now we just need a way to get rid of the...
  2. R

    Which Umbrella

    Avoid Sapphire. When I was "employed" by them, they changed the rules on how much I could contribute to a personal pension mid-contract and without notification. I had to pay hundreds of pounds of additional income tax and national insurance as a result. They even admitted they were...
  3. R

    Recommend a lawyer

    I think they used an agency for convenience, but the agency is stripping away all the protections offered by a limited liability company by forcing you to sign the agreement shown above, essentially making you self-employed. Apparently they got stung by a contractor who closed his company to...
  4. R

    Recommend a lawyer

    The agency is Redrock (Bristol). Here is the full text of the document. They insist that you sign it whether you are operating as a limited company, or through an umbrella. They will not let you start a contract without signing it, and as they act as single supplier for a number of end...
  5. R

    Umbrellas which offer 'Salary-Sacrifice' pensions

    That hasn't been my experience. I was told that the salary sacrifice arrangement could only be changed once a year (as it forms part of your employment contract) unless a significant lifestyle event occurs. I'd be wary of any UC that flaunts the HMRC rules on this...
  6. R

    MVL alternative?

    No, it's not really. You just seem to have difficulty following the thread of the conversation. My first post was in reply to this question: In response to that I described the advice I was given by my accountant when I found myself in a similar situation. No, because I didn't presume to...
  7. R

    MVL alternative?

    I think you have read too much between the lines of my post. I never asked the accountant the question you implied. It was the accountant who described the company as having "stopped trading" when it is not generating any income i.e without a contract. "Ceased trading" was never mentioned...
  8. R

    MVL alternative?

    No actually - they work for a well-known firm of accountants specializing in IT contractors. The point I'm wishing to make is that simply asking your accountant doesn't always get you the best advice. There seems to be a lot of room for "interpretation" of the accounting standards, whereas I...
  9. R

    MVL alternative?

    There are no unusual circumstances. The company had ample retained profit to pay salary and dividends, but the accountant advised most expenses are only allowed if they relate to trading, and the company stops trading from the point it stops generating income. They also advised that an...
  10. R

    MVL alternative?

    People here are always saying speak to your accountant. Well, my accountant said I shouldn't be drawing a salary if the company isn't trading i.e. company has no revenue due to me being out of contract. I'll be interested to see what the comments in this thread have to say about it.
  11. R

    Recommend a lawyer

    Those are my thoughts exactly. I also had concerns around this piece, especially with regard to IR35 and professional insurances.
  12. R

    Recommend a lawyer

    Thanks for your reply. I should point out that there are two documents governing this contract. 1. The main contract between the limited company and agency for services to the end client. 2. This supplementary contract between myself and the agency, which I have described here. With the...
  13. R

    Recommend a lawyer

    Having looked through previous posts, I haven't been able to find any other examples of this. In order to contract with an end client, the agency wants me to sign a separate document (consultancy agreement) as an individual, and not as a limited company director. For the most part, it...
  14. R

    Amount of dividend versus profits

    This bit is wrong.
  15. R

    Pension creating a trading loss for the year

    I'm going through the same process at the moment, trying to calculate how much my company can contribute. Accountant has advised that it cannot create a trading loss for the accounting period, otherwise it will not be exempt from CT and HMRC may look into it and charge a penalty. You can take...
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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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