Reply to: Any tips for a contracting noob

[northernladuk]

Ok boss was the wrong word.

Looking at your username you seem to have a habit of doing that.

[genius]

Ok boss was the wrong word.

[northernladuk]

And don't take advice from contractors. A vast majority haven't a clue what IR35 is and many others have a tentative grasp on it. Some of the crap o hear from people that half a clue is scary. Leave it to the professionals.

I'd becareful about discussing IR35 and other tax issues with your client as well. It's your business not theirs. I'd not be impressed if a supplier turned up and started moaning about their tax affairs to me.

[northernladuk]

Fail.

You are your own boss, if you have a boss then you are a disguised employee.

You have a client, and a hiring manager.

This. That statement alone makes me doubt your status.

I have a feeling with this and that comment about efficient salary earlier makes me think your need to swallow your pride a little and seek advice first.

[PurpleGorilla]

I am pretty confident I'm outside of IR35 based on conversations with both my boss...

Fail.

You are your own boss, if you have a boss then you are a disguised employee.

You have a client, and a hiring manager.

[genius]

Contract reviewed before signing?
Join IPSE or get QDOS IR35 insurance?
Got PL insurance (QDOS is best)?
Have a plan to save money for times you have no contract.
Consider JSA as an option for when you have no contract.

Salary is debatable this year depending on whether you claim employment allowance or not. Speak to your accountant.
Dividends - take every month if you want to. I do. Makes no odds at all.

What is this IR35 insurance? I am pretty confident I'm outside of IR35 based on conversations with both my boss and my accountant, plus other contractors I know personally on same / similar projects over the past 3 or so years have always been outside.

[psychocandy]

Rigggght.. And preparing for JSA is a suitable response to a serious thread?

Read what I wrote - I said CONSIDER. BIG difference.

[northernladuk]

Rigggght.. And preparing for JSA is a suitable response to a serious thread?

[kaiser78]

zzzzzzzzzzz give it up you two

Wpr1S - this started as a serious thread for somebody seeking proper information - please throw your toys around in General if you need to...

[psychocandy]

You've got to pay for the holiday in Florida somehow

Oh hang on. I feel really guilty now about doing it - I'm going to pay it all back....

[psychocandy]

Indeed, thars gold in thar Welsh hills

Mountains mun - black gold!

[pr1]

zzzzzzzzzzz give it up you two

[psychocandy]

No but you have to balance that opinion and you can see very clearly that no one else, particularly the accountant bods recommend this. It's only you... which would tell me that it's either tulip advice or it's very particular to your circumstances. That would then indicate it's not really very good advice to a newbie. Anyone with a hole in his arse can see that. A better piece of advice would be to take some certs to shore your CV up and reduce the potential amount of time you are on the bench than going straight for the benefits cheat line. Particularly when even you are still not 100% on whether we can claim or not.

You do know that accountants are not experts on the benefits system though, don't you?

We always harp on about asking the right professional person be it accountant or otherwise. I did - I asked someone at the JobCentre and asked to speak to a senior person who confirmed its all above board. Seems to be more appropriate than taking the advice of a stranger on an internet forum, no?

[MrMarkyMark]

You've got to pay for the holiday in Florida somehow

Indeed, thars gold in thar Welsh hills

[psychocandy]

Self inflicted, as far as I remember, the warchest he did have, just prior to claiming JSA, he used to pay off his credit card.
At least 16K, I believe, still nothing to see here....

It was a while ago. I cant rememebr if there was a savings limit or not or whether this one now. This was contributions-based JSA.