Reply to: 2 Year Rule

[singhr]

Speaking as a veteran, you really can't be sure if you are 'ok' until HMRC have lifted the drain covers up on you

[BA to the Stars]

Which is what/ and how? I wake up, eat my breakfast, bus to work, lunch and back home? Where is the expense? Is that not a regular working day?

Please explain further!?

Cheers

You could have claimed your travel expenses (as you use the bus, I assume that it is local to where you live so this may not be a large amount).

If you operated as a limited company there are other potential tax benefits over working through an umbrella company, however, there are then the issues of running the company. It all depends what you are most comfortable with.

Have a look at the first timer guide (useful even for experienced contractors) and also have a look at some of the "contractor calculators" which you can easily find on Google. They will give an idea of what you could have earned through claiming expenses.

HTH

[Lithium]

very bored now!

[Clippy]

Seriously go to bed or summit! You really are getting into stalker territory!

Drivel it is then.

[Lithium]

Seriously go to bed or summit! You really are getting into stalker territory!

[Clippy]

If you want decent advice from the people on here you might like to avoid posting this kind of rubbish in the future.

You stalking me or summit?? And "No" I still stand by that, as that's "my" experience from the places "I" have worked at =)

So which category does this post fall into?

Drivel or bull$hit?

[Lithium]

If you want decent advice from the people on here you might like to avoid posting this kind of rubbish in the future.

You stalking me or summit?? And "No" I still stand by that, as that's "my" experience from the places "I" have worked at =)

[Zippy]

Mouth, zip ,shut etc. etc.



Already accept that as being paid through an Umbrella Company! %)

If you want decent advice from the people on here you might like to avoid posting this kind of rubbish in the future.

[Lithium]

Mouth, zip ,shut etc. etc.

Bridge, under, billy-goat etc. etc.

Employers NI.

Already accept that as being paid through an Umbrella Company! %)

[Zippy]

Bridge, under, billy-goat etc. etc.

Employers NI.

[Lithium]

You can rest assured that you have been a model tax-payer as far as the current government are concerned and have nothing to worry about on that score.

You have paid a lot of tax that you could have avoided, but that is another issue.

Which is what/ and how? I wake up, eat my breakfast, bus to work, lunch and back home? Where is the expense? Is that not a regular working day?

Please explain further!?

Cheers

[Gonzo]

So as of Monday I will have been in my current contract for 2 years. I know there is a 2 year ruling regarding expenses, I have claimed none as I treat it as a regulalar job. My question is; are there any other Tax releated issues or indeed any probs I need to be aware of.

I'm not a hardened contractor as I was unemployed at the time and needed a job which happened to be a contractor position, and I also work through an umbrella company.

After reading up on things I believe there is nothing to worry about, just thought I would get the opinions of the "veterans" on here.

You can rest assured that you have been a model tax-payer as far as the current government are concerned and have nothing to worry about on that score.

You have paid a lot of tax that you could have avoided, but that is another issue.

[Lithium]

Thanks for the reply Sausage, as I expected

RSoles, the name seems to be appropriate so keep it up

[RSoles]

there is nothing to worry about

Apart from the way you're throwing your money around.
Not claiming legitimate expenses wastes shareholder value and pays for parasites to have their moats cleaned, duckhouses built and defined benefit pensions.

Sorry to jump on you Lithium, but couldn't you think of a better place for this money?

[Sausage Surprise]

So as of Monday I will have been in my current contract for 2 years. I know there is a 2 year ruling regarding expenses, I have claimed none as I treat it as a regulalar job. My question is; are there any other Tax releated issues or indeed any probs I need to be aware of.

I'm not a hardened contractor as I was unemployed at the time and needed a job which happened to be a contractor position, and I also work through an umbrella company.

After reading up on things I believe there is nothing to worry about, just thought I would get the opinions of the "veterans" on here.

No, especially since you've never claimed expenses and pay all of your tax and NI through an umbrella.