Deemed LtdCo payment direct to SIPP

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!

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.

BR14 replied

21 February 2020, 20:50
16
Leave a comment:
eek replied

21 February 2020, 20:40
Originally posted by professor View Post

What is stopping agencies from changing that model?

The law
Leave a comment:
professor replied

21 February 2020, 20:34
Originally posted by eek View Post

Because it won’t work, agencies deemed payments are after tax already deducted...

What is stopping agencies from changing that model?
Leave a comment:
eek replied

21 February 2020, 20:15
Originally posted by professor View Post

..didn't see threads on the scenario agency paying to LtdCo directly (as opposed to umbrella paying salary to individual). Can it work?

Because it won’t work, agencies deemed payments are after tax already deducted so it won’t work as the employer NI has been paid.
Leave a comment:
professor replied

21 February 2020, 20:04
..didn't see threads on the scenario agency paying to LtdCo directly (as opposed to umbrella paying salary to individual). Can it work?
Leave a comment:
ladymuck replied

21 February 2020, 09:24
As mentioned in the other threads, there are minimum wage considerations too. Depends on the agency etc. All covered in the discussions NLUK refers to
Leave a comment:
northernladuk replied

20 February 2020, 22:44
There are at least three threads on umbrellas that lay in to personal sipps going in at the moment and quite a few others in the last few months.
.

Umbrella pension site:contractoruk.com/forums - Google Search

Last edited by northernladuk; 20 February 2020, 22:51.
Leave a comment:
professor started a topic Deemed LtdCo payment direct to SIPP

20 February 2020, 22:08
Deemed LtdCo payment direct to SIPP

Could the agency pay the (deemed LtdCo rate + NICR + apprentice levy) directly to LtdCo contractor's SIPP?
This makes agency's job easy - don't have to bother deducting the NICE & Tax from deemed LtdCo rate, as payment to SIPP is made in gross.
Might be useful for those who don't need the cash straightaway and mitigate the cut.
Is this practical?
Tags: None