I'd suggest understanding more about IR35 and you mortgage options before making a decision.
Don't worry about the date you start contracting from an IR35 perspective, understanding your IR35 status is the priority.
There are mortgage advisers out there who specialise in dealing with contractors so it is certainly worth talking to them to see what options you have before making the jump into contracting.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- 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!
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "New contractor - Should I start before April 2019?"
Collapse
-
Originally posted by dankmemes View PostHi,
I'm a wannabe contractor. I was originally looking to start after purchasing a house as a permie in ~October 2019, but due to the IR35 changes I have been persuaded to potentially start earlier to get a year in outside of IR35, and buy a house 12 months after starting as a contractor instead.
My question is; should I start before the next tax year, so I can get a full 365 days outside of IR35?
Leave a comment:
-
Originally posted by WLB2018 View PostHi,
I would suggest (like others have) to read up more on IR35 so you are more aware of what it is and how it will impact you moving forward. Beyond IR35 make sure you have everything else planned out. Speak to an accountant or accountants to get their input into the Mortgage situation, it also gives you an idea on what to expect moving forward.
As for timing, jump in when you feel you are ready and are armed with all the facts, oh and of course have a contract to start
Enjoy.
WLB
Leave a comment:
-
Hi,
I would suggest (like others have) to read up more on IR35 so you are more aware of what it is and how it will impact you moving forward. Beyond IR35 make sure you have everything else planned out. Speak to an accountant or accountants to get their input into the Mortgage situation, it also gives you an idea on what to expect moving forward.
As for timing, jump in when you feel you are ready and are armed with all the facts, oh and of course have a contract to start
Enjoy.
WLB
Leave a comment:
-
If your reason for going contracting is financially based and you will be requiring a mortgage for the house purchase then you may be better staying permie until the mortgage has been sorted as there is no guarantee of income when contracting, so you may find it more difficult to get a mortgage in contract.
Read up on mortgages for contractors as well as IR35 and don't make a life changing decision until you are sure you know what to expect and it is the right course of action for your circumstances.
Leave a comment:
-
Originally posted by dankmemes View PostI mean IR35 being introduced in the private sector from April 2020
There are a lot of links out there, it's still a mind bender and pretty vague and subjective, but a good thing to start trying to understand if you plan to go contracting.
Good luck
Leave a comment:
-
I think you are completely misunderstanding IR35. Have a look on the right, there are a load of links including IR35. Have a read up on those, and use Google to look for more.
Once you've done that we'll be happy to try help on anything specific.
Leave a comment:
-
Originally posted by dankmemes View PostI mean IR35 being introduced in the private sector from April 2020
I know what you think you mean, but it's coming out all garbled.
Look for a contract, establish (and evidence) the status of that contract w/r to IR35, decide whether to accept it, and then pay your taxes appropriately. The same applies now, as ten years ago, as after April 2020.
Leave a comment:
-
What's this 365 days outside IR35 stuff? Who's told you this?
Leave a comment:
-
New contractor - Should I start before April 2019?
Hi,
I'm a wannabe contractor. I was originally looking to start after purchasing a house as a permie in ~October 2019, but due to the IR35 changes I have been persuaded to potentially start earlier to get a year in outside of IR35, and buy a house 12 months after starting as a contractor instead.
My question is; should I start before the next tax year, so I can get a full 365 days outside of IR35?Tags: None
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: