Reply to: Quick Contractor Perks Roundup

[northernladuk]

Short summary:

1) total shafting on dividends
2) total shafting on pensions for "additional" rate taxpayers
3) 45% tax still in place
4) lots more contractor related shaftings
5) Waldork is Osborne's sockie

So, in one word:



DOOM!!!!

HTH

This.. Tat shop is the way to go IMO.

[AtW]

It's not my fault. Why on earth would I have been interested in the rumblings in the contractor market. I had transcended all that nonsense, now I'm about to fall back to earth with a bump.

Short summary:

1) total shafting on dividends
2) total shafting on pensions for "additional" rate taxpayers
3) 45% tax still in place
4) lots more contractor related shaftings
5) Waldork is Osborne's sockie

So, in one word:



DOOM!!!!

HTH

[MarillionFan]

Have you been drinking champagne in 1st class lounge all last year???

It's not my fault. Why on earth would I have been interested in the rumblings in the contractor market. I had transcended all that nonsense, now I'm about to fall back to earth with a bump.

[AtW]

Done a bit more reading now.

Two more questions

(1) Is the 5k Tax Free dividend in addition to any salary you've had to date, or if would I have to pay tax anyway on a 5k divvy as I will have already earned a load this year.
(2) How much can the company pay into the directors pension? Personally I can pay 40k per year, but is that the same if it comes from a LTD. Is the limit the same?

Have you been drinking champagne in 1st class lounge all last year???

[MarillionFan]

Done a bit more reading now.


Two more questions


(1) Is the 5k Tax Free dividend in addition to any salary you've had to date, or if would I have to pay tax anyway on a 5k divvy as I will have already earned a load this year.


(2) How much can the company pay into the directors pension? Personally I can pay 40k per year, but is that the same if it comes from a LTD. Is the limit the same?

[FatLazyContractor]

Keep taking the antibiotics and you will be fine.

Why? Is he married to one of your ex-wives ?

[BrilloPad]

Not free of consequences...

Keep taking the antibiotics and you will be fine.

[AtW]

NLyUK's prices! AndyW's mum is free. And she doesn't fit into that gladiator outfit since FLC left his lunchbox there the other month.

Not free of consequences...

[AtW]

You tried searching or speaking to your accountant?

Maybe his accountant is Darren U.....

[barrydidit]

Is the perk of 50% off AndyW mum's prices still valid?

If not, I will not be able to afford her in the gladiator outfit...

NLyUK's prices! AndyW's mum is free. And she doesn't fit into that gladiator outfit since FLC left his lunchbox there the other month.

[BrilloPad]

Is the perk of 50% off AndyW mum's prices still valid?

If not, I will not be able to afford her in the gladiator outfit...

[MarillionFan]

IPSE tax events in Guildford (19th) and Reading (20th) if you want to get back up to speed quickly.

You don't need to be a member to attend, but if you do want to join click here

See https://www.ipse.co.uk/events for details

I shall pop over and take a look, but doubt I will join. I won't join any Club that would have me as a member.

[northernladuk]

Small people are still paying tax so still nothing for you to worry about......

[mudskipper]

IPSE tax events in Guildford (19th) and Reading (20th) if you want to get back up to speed quickly.

You don't need to be a member to attend, but if you do want to join see here

See https://www.ipse.co.uk/events for details

[TheFaQQer]

4 years since I last took ER.

Sounds like a plan to start out, with the intention of a full return (and so you can argue that the locations are temporary), and leave the money in the account for the year unless you need it.

Stay outside IR35, stay away from public sector until the rules are clarified (and probably after that too), and welcome back