I believe My current IT contract ( through agency) falls within ir35. I have spoken to both the agency and the client they were not sure but say it most likely falls within ir35. Now my question is how does this affect me . what do i have to do
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Originally posted by abu1 View PostI believe My current IT contract ( through agency) falls within ir35. I have spoken to both the agency and the client they were not sure but say it most likely falls within ir35. Now my question is how does this affect me . what do i have to do
Assuming you are still paid gross, take off any allowable expenses (there aren't many, accountancy fees mainly) then pay 95% of the balance to yourself as salary with full PAYE and both NIC's deducted and sent to the taxman. The rest is liable for CT of course, and the balance (usually about fourpence) taken as dividends. But read the guide I linked to properly.Blog? What blog...? -
Originally posted by abu1 View PostI believe My current IT contract ( through agency) falls within ir35. I have spoken to both the agency and the client they were not sure but say it most likely falls within ir35. Now my question is how does this affect me . what do i have to do
The same guides should tell you the differences of working and the impact as well. You could do with getting more familiar about it whatever your IR35 status is.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by malvolio View PostDo some reading on how IR35 works? Ask your accountant? <NLUK OFF>
.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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