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
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Recent content by Untouchable1

  1. U

    Rule of thumb uplift from outside IR35 to inside IR35 day rate?

    I’m trying to get a sense of the typical uplift needed when moving from an outside IR35 contract to an inside IR35 one. For example, if someone’s day rate is £1,200 outside IR35, what would be the rough equivalent inside IR35 to achieve a similar take-home pay? Is there a general rule of thumb...
  2. U

    Looking for a Good Tax Calculator for 24/25

    My account came back with "Yes, it will still be worthwhile. The £1,047.50 is a tax-deductible expense for corporation tax purposes. This represents the most tax-efficient salary for a company director." I struggle to believe this is true....
  3. U

    Looking for a Good Tax Calculator for 24/25

    Appreciate the input. I have an accountant, I just like to do these things myself :)
  4. U

    Looking for a Good Tax Calculator for 24/25

    Hi everyone, I’m trying to get a better handle on my finances for the 24/25 tax year and was hoping someone could recommend a good tax calculator or tool that covers the following: Helps me estimate how much tax I should set aside. Allows me to model splitting my income between PAYE and...
  5. U

    Salary level?

    They did not.....
  6. U

    Salary level?

    Hi, Returned to contracting after a long hiatus. What are people setting their salary to these days? My accountant suggested 1,047.50, just wanted to check with you guys though. Another consideration, is that I already had an income of 38k on a self-employed basis in this tax year, before...
  7. U

    Sole trader vs Limited from a tax perspective

    I ran the numbers again with higher expenses and pension contributions. Increasing expenses doesn't make a difference from a tax liability. With no pension contributions, a sole trader is definitely more tax-efficient. (and less costs of insurance, accountants, hassle etc) However, as soon as...
  8. U

    Sole trader vs Limited from a tax perspective

    Returning contractor here. Setting up as a limited company always was more tax-efficient, but is that still true? When I use the calculator it tells me that I pay less tax as a sole trader. What's going on here? What are the benefits of setting up as a limited from a financial perspective?
  9. U

    Sole trader vs Limited Company - low paying 3 month gig

    This gig is very low-risk, so I'm happy from that perspective. Just interested in the financial aspect.
  10. U

    Sole trader vs Limited Company - low paying 3 month gig

    It's been a long time since I was contracting, so I'm not up to speed on the latest stuff. I just came out of a perm role. Expect I'll be looking for my next one for 3-6 months. In the meantime, I've been offered a 3-month contracting gig for £382 a day. They asked me if I want to invoice...
  11. U

    Sajid Javid set to curb ‘entrepreneurs relief’ in Budget

    At what point does it count as 'appointing a liquidator'? The liquidation company I've spoken to has said I could stop the liquidation at any point up to the 'general members meeting' has taken place and put the company into dissolution. Thanks, Untoucable1
  12. U

    MVL / Entrepreneurs relief question

    Bad bot.
  13. U

    MVL / Entrepreneurs relief question

    Hi, I have ceased trading, closed my accounts, de-registered for VAT, de-registered as an employer etc etc. and will be appointing a liquidator today. I’m keen to avoid any possible changes that might affect entrepreneurs relief in the upcoming budget. I have the following questions: What...
  14. U

    Closing down company & reclaiming statutory maternity from HMRC / entrepreneurs rel..

    Thank you everyone for your input. Not great news really! I think I'm going to lose out either way....
  15. U

    Closing down company & reclaiming statutory maternity from HMRC / entrepreneurs rel..

    I don't know, but I hope that my accountant has taken care of this. I believe that the claim has been made.
See more

Partners

Contractor Mortgages
Contractor Mortgages
PI Insurance
PI Insurance
Closing your company
Closing your company
Contractor accounting
Contractor Accounting

Advertisers

Contractor services

CUK News All news

Tag cloud

accountant agw boomed! contract contract advice expenses global warming guinea pigs hmrc ir35 limited company monday links mumsnet online tax the official doom training trigger warning umbrella wgas
  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
Back
Top