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Recent content by softwaredever

  1. S

    Who is liable for penalties under the new IR35 regime?

    If my client decides that I am outside IR35 from April 2020, then say in a year HMRC decides they were wrong and I was actually inside, who is liable for the extra tax due? Would I have to pay anything? * I know that there will be no penalties for the first year, but theoretically.
  2. S

    Surely the reality is that your average software development contract is INSIDE IR35?

    So it seems that people are saying that according to the spirit of the law, your average (according to my definition) IT contractor is inside IR35, but according the case law (which is the actual law), they are outside?
  3. S

    Surely the reality is that your average software development contract is INSIDE IR35?

    In my field (web application development in London) literally every contract I see advertised or hear about from agencies is of the type I described, as are ads for mobile and native app development that I come across. My experience chimes with the OP here...
  4. S

    Surely the reality is that your average software development contract is INSIDE IR35?

    It's true this is the one that I think isn't so clear cut, and I can't say I fully understand the MOO test. So are you implying that because your average IT contract is to work on a specific project, rather than to work for a specific company, there is no MOO?
  5. S

    Surely the reality is that your average software development contract is INSIDE IR35?

    Here's my experience of IT contracting - you work full-time in a team of other contractors/permies (reviewing each other's code, with the more experienced ones/product managers directing less experienced ones), on company equipment, at the client's site, to complete some project. In theory you...
  6. S

    Is contract renewal rate increase negotiation always with the agency not the client?

    Thanks for all the replies. I'm speaking to other agencies about new contracts now, my plan is in the next couple of weeks to discuss the situation with the client first, but do the final numbers negotiation through the agency. As people have said, a large % increase may be unlikely, but I have...
  7. S

    Is contract renewal rate increase negotiation always with the agency not the client?

    I'm a full-stack (mostly front-end) developer contractor in London on £300/d, have been there 13 months. I know this is massively below market rate but I was happy with it at the beginning (started on £280, raised to £300 after 3 month probation) as I had no contracting experience and had been...
  8. S

    Is it legal to invest the LTD company money earmarked for corporation tax in stocks?

    Don't you need to have enough cash in the company to pay corporation tax at the point you pay a dividend though? It's my understanding that you can't pay a dividend that would leave the company with less cash than its tax liabilities at this date. Perhaps I'm wrong though.
  9. S

    Is it legal to invest the LTD company money earmarked for corporation tax in stocks?

    Not something I'm actually planning to do, but I was getting a business savings account to put the corporation tax money in and I started thinking about what else it would be possible to do with the money.
  10. S

    Is it legal to invest the LTD company money earmarked for corporation tax in stocks?

    Note I'm not asking whether it would be advisable! I know it would not be advisable. But I'm curious about whether it's legal. Say I have a few thousand in my business bank account earmarked for corporation tax. I.e. it's not surplus cash as such, that's already been taken out as dividends. If...
  11. S

    Accountant recommendation please (London)

    Thanks for the advice everyone Thanks for the advice everyone Thanks to the people who replied to my post. I accidentally deleted it so I'll reproduce it below in case anyone has any more comments. As some of you have said, it may be cheaper to get a monthly one anyway even if I'm not using...
  12. S

    HMRC saying I have NI to pay at <£5000, but I'm on Directors cumulative method?

    Great, thank you for clarifying this.
  13. S

    HMRC saying I have NI to pay at <£5000, but I'm on Directors cumulative method?

    Yep I may have to...it's complex stuff! As you say, this NI thing must be because I'm only working for half the year and I guess NI isn't calculated on a total annual basis but on the period I've been working for. This confirmed it for me, if I put in that I've been working for the entire year I...
  14. S

    HMRC saying I have NI to pay at <£5000, but I'm on Directors cumulative method?

    Hi everyone, Just called HMRC about this but they said they can only answer these kind of queries on weekdays, which is when I'm working, so if anyone has any insight, would be very grateful. I set up an LTD a few months ago, and currently am doing my accounting myself as I wanted to learn how...
  15. S

    DIY Pensions for a Limited Company?

    Ah thanks, hadn't thought I'd need to do anything with the pension provider itself, but will do, and good to know nothing is needed on the HMRC side bar recording as an expense.
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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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