Going perm but what if?

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northernladuk replied

11 March 2020, 17:48
Actually.. Didn't your previous thread answer these questions? The link on risk was supplied, you were advised to speak to your accountant so on.

What's new in this thread that we couldn't help with in the other? Just the question about the uplift?
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northernladuk replied

11 March 2020, 17:42
I am only thinking what if the client agrees for a rate lift of say 20%

That's your biggest problem and is very unlikely to happen.

I think permanent is safer option.

Safer option is to leave. But it's a big decision with lots of implications. Don't just think. Have a look at the thread below.

Either way, you don't want to be there when any of this kicks off... and you've left it very very late.

https://www.contractoruk.com/forums/...ould-i-go.html

If you are struggling with the tax numbers in the company you really should be speaking to your accountant. They will know what you have in the company and what your situation is so will be able to give you a figure you are owed by your LTD. How much you pay has nothing to do with time so forget whatever someone told you. Listen to your accountant only. They are professionals at this.

Last edited by northernladuk; 11 March 2020, 17:45.
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jkb99 started a topic Going perm but what if?

11 March 2020, 17:38
Going perm but what if?

I have been into the contracting business for only about 11 months .My end client is going to consider me inside now and they are not ready to accept an umbrella/consultancy. So, I either go inside OR go permanent. I think permanent is safer option. I will then have to probably close my current ltd company and take out the earnings after paying appropriate taxes but as being outside. Total turnover of round about £100k. I cannot for sure figure out how much could that be? Someone told me that I might end up paying 30% anyway in case I close the company within 2 years of opening. Is that true?

I am only thinking what if the client agrees for a rate lift of say 20%. I can then keep my ltd. alive and probably not lose too much on paying back dated inside IR35 taxes for past 11 months or so. Any kind advice please?

**Sorry I'm relatively new to all this so please be gentle on me :-) **
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