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Recent content by Tinker
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financial advantage of ltd vs paye
yes - due to being a wuss and knowing my contract wouldn't stand up to IR35 review I'm moving from MSC (where I received dividend payments, a la Ltd company) to umbrella and I reckon I'm going to lose at least £1000 - £1500 a month in take home pay... bummer (am re-negotiating my contract as we...- Tinker
- Post #5
- Forum: Accounting / Legal
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MSC Solution
This was the bit I was really worried about and you've confirmed my concerns. Thnks- Tinker
- Post #21
- Forum: Accounting / Legal
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MSC Solution
Thanks - it's not that hard to understand if everybody says the same thing, but I've asked numerous providers the same question all giving me slightly different answers which is why I came to this board. Thankyou for you clear response.- Tinker
- Post #20
- Forum: Accounting / Legal
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MSC Solution
Hi fellow first timer - thanks for this. Think you've hit the nail on head with Point 3. This is what my provider is saying: I am remaining an MSC and as such from now on all income that was previously classed as dividend income will be subject to PAYE, but not NI yet. As of August NI will also...- Tinker
- Post #18
- Forum: Accounting / Legal
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MSC Solution
Thanks All for your information. They are fairly adamant that they are right: "The people you spoke to are correct that the National Insurance Regulation needs Royal Ascent which will happen in August; however they are incorrect to suggest that NI can then be applied retrospectively from April...- Tinker
- Post #12
- Forum: Accounting / Legal
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MSC Solution
The company I'm with are going to start treating my income as PAYE, previously it was dividend income. However they are saying that I don't need to start paying NI until August. They are basically saying that, due to the new legislation, my MSC income will be taxed as PAYE income with immediate...- Tinker
- Post #9
- Forum: Accounting / Legal
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MSC Solution
Good point about the retrospective bit - will check with them and see what they say..- Tinker
- Post #7
- Forum: Accounting / Legal
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MSC Solution
Yes I will be run as an MSC but they are saying that I do not need to pay NI on income that I previously received as dividends until August.. a) does that sound right? b) will I now be off the IR35 radar? Thanks for your help so far- Tinker
- Post #5
- Forum: Accounting / Legal
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MSC Solution
Ltd company. The firm who I'm with have a ltd company on my behalf. They invoice the agency, the agency pays them, they take off tax etc and then pay me.- Tinker
- Post #3
- Forum: Accounting / Legal
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MSC Solution
I'm really really sorry if this has been covered before - have read the stickies but couldn't find anything to exactly answer my query: I have, up until now, been run as an MSC. Not sure if my contract would stand up to close IR35 inspection and so I've decided to not go down the limited...- Tinker
- Thread
- Replies: 22
- Forum: Accounting / Legal
