Thanks
Thanks guys.
Widget you are absolutely correct, I should do my own research (and will ASAP) but I've just got back from sabbattical and have had this position come up and I need to make a V. swift decision.
Tim - not a first timer but found my previous Ltd company cumbersome and find the ease of use of an umbrella over a minor piece of lost revenue acceptable.
If what you say is correct, and having read most of both of yours previous posts I have no reason to doubt you - this is kind of what I was looking for.
Many thanks again.
- 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 "Opt in/out... sorry to mention this again"
Collapse
-
Guest replied
-
Guest repliedAs you are considering using an umbrella I would guess that you are a first-timer (without a Ltd).
So the question is irrelevent as, in this circumstance, it is impossible for you to opt-out. The opt-out must be signed by you (as the employee) AND by someone (as the representative of "the work seeker who is incorporated"- your Ltd) BEFORE the employee is introduced to the client. This someone will probably also be you, but it could also be a co-director. But, "the work seeker who is incorporated" does not yet exist so you (or anybody else) cannot sign on their behalf.
The agency can pretend to himself that you can opt-out but if you should ever have the need to show that your opt-out is void there should be little difficulty in doing so.
tim
Leave a comment:
-
Guest replied1. Do your own research. We might lie to you (hint look at the DTI web site).
2. Sack the agent, they are lying to you. You could report them to the DTI.
The "only" reason opting in/out could affect your tax and NI would be if it were a major pointer to IR35 status. It isn't so it can't.
Your agent is obviously worried so use this to negotiate a cast iron outside IR35 contract. Make sure it is signed and accepted by you, the agent and the client.
If they wont negotiate then stay opted in. You also want to check terms and conditions of that contract (as you would with any contract) to determine your IR35 status and therefore rate.
Leave a comment:
-
Guest started a topic Opt in/out... sorry to mention this againOpt in/out... sorry to mention this again
Hi, can anyone very briefly advise how opting in/out affects tax/ni etc as agency have suggested this to be the case...
Also, "1st Option" as an umbrella company. Any info or experiences..
Many thanks in advance,
SteveTags: 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: