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Recent content by youngguy

  1. Y

    How best to get an outside rate based on the inside rate

    After over 5 years, I possibly have the chance of an outside role. It's £150 less than my inside role. I'll confess to being somewhat out of date on the current corp and dividend tax rules and more than out of practice on how bes to calculate and compare against inside roles! How best might I...
  2. Y

    Umbrella contractor - are you changing anything post budget?

    I'm correcting myself. As things stand it states "All employer pension contributions will continue to be free of NICs." How much this all changes before 2029 is anyone's guess...
  3. Y

    Umbrella contractor - are you changing anything post budget?

    Took me a while to be able to sit down and write this after the shafting today :tongue Given the changes to pensions and salary sacrifice from 2029, is anyone changing their strategy? I am salary sacrificing £30k a year but due to being under a brolly I have the pleasure of covering the...
  4. Y

    Drawing dividends from company that isn't invoicing

    That is an idea I didn't think of! Could well be part of the option in a couple of years
  5. Y

    Drawing dividends from company that isn't invoicing

    The only (current) reason is I pick up a handful of days consultancy and if that continues Ltd gives me a vehicle for that, plus I was thinking if I paid out in dividends over a few years I don't have the ER at 10% (assuming that still exists in the future)
  6. Y

    Drawing dividends from company that isn't invoicing

    I'm not at retirement yet, but one of the things I am starting to look at is how I might bridge the gap between stopping working and pension age. I have a ltd company which is fully functioning and has done very small bits of work (few days a year) but my current main gig is an inside contract...
  7. Y

    Using my Ltd as my Umbrella

    1. Many brolly 'employees' get paid weekly and on a Friday. The timings of pay runs and submitting of timesheets means this is significant (for some) to ensure they get paid. 2. If you use the calculator the margin is clearly listed. Most umbrella co websites do it this way as the first thing...
  8. Y

    Horrors of their first budget.

    Thanks, I've asked the accountant so will update here on their view. My planned approach is the same as yours - hit the 60k (or 40k from previous yrs) from a combination of brolly salary sacrifice and the rest direct from the ltd
  9. Y

    Horrors of their first budget.

    My Google fu may be white belt as I can't find an answer (and my accountant may consider this financial advice). Can you have two companies sal sacrificed into your pension up to 60k? My ltd is still open due to doing a tiny bit of work and it has a larger than I'd like (especially at 18%) sum...
  10. Y

    Horrors of their first budget.

    Posted in wrong place
  11. Y

    Exact Payroll Ltd - problems afoot????

    This would not surprise me. I had a lot of problems with Exact (a search here will provide the details). What I noticed was that the upper management has changed hands several times since the last couple of years and the people who were on entry/admin and had got my entries wrong literally...
  12. Y

    Business Savings Accounts

    It's funny as I found this due to Investec closing one of my accounts and me searching for the current best batch! Thanks to all on this thread for giving me some good alternatives. I have 4 accounts, when I've got near the limit, I've then opened another account. There is a hassle when you...
  13. Y

    Pension LTA, IFA, bit of everything

    AHH thanks. This somehow passed me by. It sounds vaguely familiar but I think I maybe forgot/dismissed it/assumed it was more gov hot air. I'll carry on until labour change the field and deal with it then.
  14. Y

    Pension LTA, IFA, bit of everything

    Think I'm going to get a bit of stick for this one but it's Friday, so what the heck. I've been loitering inside IR35 for a while now and therefore maxing out salary sacrifice. This keeps the tax bill as low as it can be but now I'm staring down the 'problem' of the Pension LTA. A bit of...
  15. Y

    Better to overpay pension when working through an umbrella?

    Yes very true....and if I thought it was difficult explaining to a standard lender what it meant to have a ltd as a contractor, I should not have been surprised at even more befuzzlement at trying to explain how an umbrella who is legally my employer and provides a wage slip, isn't really my...
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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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