Reply to: Have you been PAYE audited ?

[2uk]

Well if you aren't getting the insurance to protect yourself from investigations why are you getting it ?

You can get insurance cover for tax liable in addition to the tax investigation costs.

[Ardesco]

If we talk about saving from investigations we should talk about insurances that cover the tax itself. I will start a new thread soon.

Well if you aren't getting the insurance to protect yourself from investigations why are you getting it ?

[2uk]

What's more important? A car that doesn't come with indicators as standard, but does come with a bloody huge electromagnet under the front bumper, or peace of mind knowing that if you get investigated the insureance could save you twice as much as a brand new bmw?

At the end of the day it's your choice......

If we talk about saving from investigations we should talk about insurances that cover the tax itself. I will start a new thread soon.

[Ardesco]

Yep I manage that. But you see , i save for my new BMW

What's more important? A car that doesn't come with indicators as standard, but does come with a bloody huge electromagnet under the front bumper, or peace of mind knowing that if you get investigated the insureance could save you twice as much as a brand new bmw?

At the end of the day it's your choice......

[2uk]

No, earning at least double £90 a day (I.e. £180/day)

Yep I manage that. But you see , i save for my new BMW

[Ardesco]

No, earning at least double £90 a day (I.e. £180/day)

[2uk]

If you aren't earning at an absolute minimum double that

You mean if I am not earning double what a PAYE would make ?

As someone said contracting is not only about money ( although for me it is ) but also about work-style. ( which I love as well )

[Ardesco]

If you aren't earning at an absolute minimum double that, you may want to rethink your chosen career choice. Also PCG membership will be paid out of your company so no Tax/NI to pay on that £90 either.

[2uk]

It's an extra £90 a year; why is it even an issue?

I am sorry but have you seen my bank account ?

[2uk]

Find out

If you aren't set up for PAYE you are unlikely to have a PAYE audit, however if you aren't set up for PAYE why not? Do you have a LTD CO? Do you have an accountant?

Do you actually know what's going on in the world....

Sorry for that , I am a Ltd with one of the accountants on this site. Will ask them next time. . I guess I am since I will be paying myself PAYE with inside contracts.

[wizard1974uk]

How was it nasty? Seemed to be good advice.

It's down to a person's perception on whether they deem a post to be nasty or not, no hard and fast rules out there.

[max]

Whenever I see malvolio post I always want to search for more. So nasty it's good. I was offended at the start but now it's so funny.

P.S you fecker

How was it nasty? Seemed to be good advice.

[TheRightStuff]

Oh FFS, PCG membership covers you for an IR35 investigation, PCGPlus covers you for a PAYE investigation that might lead to an IR35 investigation just like it says on the tin. The higher level of cover is meant to stop any kind of IR35/S660a/expenses trawl happening by giving professional help earlier in the process (plus some other useful benefits).

It's an extra £90 a year; why is it even an issue?

Whenever I see malvolio post I always want to search for more. So nasty it's good. I was offended at the start but now it's so funny.

P.S you fecker

[Ardesco]

I'm saying nothing

[Bluebird]

I know, but if you don't know if you're PAYE registered, then it looks like your using an MSCP - how else wouldn't he know [ unless extreamly thick ? ].


Best advice 2UK is ask you accountant [ if you've got one ] or more FULLY explain your Ltd Co set up and perhaps we can offer you some advice.