Reply to: Can't RTFM. Won't RTFM.

[Pondlife]

Thread of the day.

Good work folks.

[Rookie]

Q. What is the best overseas country to set up my LtdCo so I pay no tax like you guys lol.

Q. I've never worked in IT and I want to be a project manager. What is the best way to start - is it at the bottom by being a programmer or can I just go straight in as an analyst in a call centre?

Q. I called an agent and he said he wants references before he can give me a job. I gave him the name and number of all my previous managers. That was yesterday. How long does it take for them to check references? Will I be able to start on Tuesday?

Q. I haven't got any savings so I need to get paid quick. Does the client pay or the agency, I'm confused. Do they normally pay on Fridays?

Q. My friend says he makes lots of money as a contractor but you should pack in your permanent job first. So I did that and finished yesterday. Does it take you guys long to get a contract. I've kept next week free in case I have to have an interview.

Q. My friend says he can claim everything on expenses like meals and car and mobile phone and even his dining table lol. How do you get the client to pay for them?

Q. I am a fukcwit. Can you tell?

PS How much money are you on? What is a 'normal' wage as a contractor?

Excellent, RC!

[blacjac]

I think RC was taking the pi55......

[centurian]

Hi,

I've really have read the links on the side and the First Timers guide. But I can't find an answer to my question.

I know about PAYE forms P45, P46, P60 and P11D but I cannot find anything out about:Is the P155 something the taxman takes from me?

Should I ask my account to raise a P155? Would organising a P155 up help?

Where should I send my P155 off?

Can anyone send me a P155 sample?

Couldn't be bothered to hit the Shift-4 key, so just used the '5' instead.

Mind you, explaining it has just consumed about 100-times more keypresses.

[RichardCranium]

Hi,

I've really have read the links on the side and the First Timers guide. But I can't find an answer to my question.

I know about PAYE forms P45, P46, P60 and P11D but I cannot find anything out about:

the p155

Is the P155 something the taxman takes from me?

Should I ask my account to raise a P155? Would organising a P155 up help?

Where should I send my P155 off?

Can anyone send me a P155 sample?

[centurian]

We're NOT taking the p1$$ out of newbies, we're ripping at the ones that utterly fail to engage a braincell, use the search feature or even peek at the First Timers guides.

I'm sure most of us are more than happy to give what advice we can to the people who've got real questions or need recommendations.

Fair comment. Wrisp slapped

[TykeMerc]

Now back to taking the p155 about newbie's

We're NOT taking the p1$$ out of newbies, we're ripping at the ones that utterly fail to engage a braincell, use the search feature or even peek at the First Timers guides.

I'm sure most of us are more than happy to give what advice we can to the people who've got real questions or need recommendations.

[centurian]

I think Gordon Brown has got something wrong. He said he reduced VAT to 15% to help small businesses. But surely I'll be worse off if I can only keep 15% VAT instead of keeping 17.5% VAT. Does he mean the small business I'm claiming the VAT from?

<LarkingAround mode="Off">

Yep. On the FRS, I'm about £200-300 worse off p.a. because the flat rate percentage only changed by 1.5% as opposed to the 2.5% cut.

So not only will I have to pay extra when the (supposed) increase to 20% VAT occurs, I'm also having to pay extra when it goes down.

With "help" like that, I'd hate to see this government being "mean"

</LarkingAround>

Now back to taking the p155 about newbie's

[pmeswani]

I see. That must be why it is called "self-employed". Because you employ yourself, you do not have to pay any taxes. That must be why the government pays the expenses too.


I think Gordon Brown has got something wrong. He said he reduced VAT to 15% to help small businesses. But surely I'll be worse off if I can only keep 15% VAT instead of keeping 17.5% VAT. Does he mean the small business I'm claiming the VAT from?

Paying VAT to the tax man is for whimps. Just pocket the money and hope they never find out. HTH.

[RichardCranium]

no point in opening a company bank account, just give your angency your personal bank account details and collect the full amount, this is the best way to avoid paying any tax.

I see. That must be why it is called "self-employed". Because you employ yourself, you do not have to pay any taxes. That must be why the government pays the expenses too.


I think Gordon Brown has got something wrong. He said he reduced VAT to 15% to help small businesses. But surely I'll be worse off if I can only keep 15% VAT instead of keeping 17.5% VAT. Does he mean the small business I'm claiming the VAT from?

[dozer]

no point in opening a company bank account, just give your angency your personal bank account details and collect the full amount, this is the best way to avoid paying any tax.

[centurian]

Q. I called an agent and he said he wants references before he can give me a job. I gave him the name and number of all my previous managers. That was yesterday. How long does it take for them to check references? Will I be able to start on Tuesday?

It's also useful if you let the agent know where you are interviewing at the moment, including contact names and details of the role. That way the agency can be sure he's not double hitting you for the same role.

[centurian]

* Can I start a Limited Company without any IR35?

I'd completely ignore IR35 - don't even give it another thought. The government have only won 4 cases.

Out of the millions of Ltd companies, this means the chances of losing are basically zero.

Waste of time getting contracts reviewed and IR35 insurance as well.

If you do lose, just offer to pay the amount owed without any interest or penalties. Seems to work for MP's, so I'm sure HMG will be just as accomodating for normal people.


(sidenote : can't blame newbie contractors too much if they get the above impression though - think agents / umbrella's etc. deliberately paint a vague picture as to the IR35 risks, espeically when they smell a newbie they want to get their claws into)

[centurian]

Q. My friend says he can claim everything on expenses like meals and car and mobile phone and even his dining table lol. How do you get the client to pay for them?

Not forgetting that you should take a contract which gives the highest potential for expenses, because "it's extra money - the taxman gives it back to you"

It's far better to take a £40ph contract 200 miles away which gives 20K in expenses, rather than a local £38ph contract with zero expenses. That 20K is like...what.. £8-9ph extra on top of the £40



Mind you, it's amazing how many established contractors still don't understand how expenses work in terms of their real effect on the bottom line.

[Fred Bloggs]