Reply to: Umbrella questions about SDC expenses, pensions and Scottish tax bands

[eek]

In/Out..shake it all about..........its outside at the moment...it will be inside once clock hits April 6th.....yes I know how ridiculous that is..but thats the new world we are entering...as we all know..its doesnt matter whether its actually in/out or whether a client has done a reasonable SDS...they are risk averse so everyone is gonna be In ......with a few exceptions.

Plus your comment isnt correct..you can be Inside IR35 or even employed as fully perm and claim some expenses..the uniform/washing is an obvious one thats often pitched...many umbrellas also allow you to claim (limited) others, mileage being another example.........perhaps wrongly ?

For expenses here we are talking travel of a commuting type to your fixed place(s) of work.

And If you are claiming for uniform cleaning you are well and truly inside.

[andydd68]

Is your contract inside IR35 - if it is you can't claim expenses - the SDC exemption is for outside IR35 contracts..

In/Out..shake it all about..........its outside at the moment...it will be inside once clock hits April 6th.....yes I know how ridiculous that is..but thats the new world we are entering...as we all know..its doesnt matter whether its actually in/out or whether a client has done a reasonable SDS...they are risk averse so everyone is gonna be In ......with a few exceptions.

Plus your comment isnt correct..you can be Inside IR35 or even employed as fully perm and claim some expenses..the uniform/washing is an obvious one thats often pitched...many umbrellas also allow you to claim (limited) others, mileage being another example.........perhaps wrongly ?

[contractor_coop]

Employer contributions to Fidelity SIPP

Does anyone use an umbrella that does make contributions to Fidelity?

From my understanding Fidelity will accept a single employer contribution into their SIPP - <mod snip>

All this means that each month you will be required to complete this form in order to notify Fidelity of the amount that is being paid.

You just need to find an umbrella whois prepared to work with you to achieve this

[eek]

I doubt it...

Is your contract inside IR35 - if it is you can't claim expenses - the SDC exemption is for outside IR35 contracts..

[andydd68]

Don't assume you will get that money come April as IR35 overrides the SDC get out when it comes to expenses see the IR35 examples on Travel and subsistence expenses for workers engaged through 'employment intermediaries' from 6 April 2016 - GOV.UK

and I suspect HMRC may be looking at your claims going forward and disallowing them...

But nice to see Parasol haven't changed their stripes.

I doubt it...

[lucyclarityumbrella]

I've a friend who's just been told Parasol will pay into any SIPP. However, they've only started this in the last few weeks due to demand. While interesting, I don't fancy being a guinea pig for their new services...

Be interesting to see if this is the case, I have seen others who have been told that and then have ended up not being able to.

[eek]

Just started with Parasol and they can pay into PensionBee easily enough, took a few emails back n forth, they will only do monthly (not sure wether its a set date) and only a set amount not a %

As for expenses, etc..they seem happy enough to pay mileage, Im working on assumption Im not covered by SDC (yes I know this was discussed earlier in the thread, but SDC is not IR35 although its similar in scope).

They 'will' also pay expenses on software/equipment bought solely for the role, although in practice I found this very difficult and gave up trying to persuade them my O365 licence of £5 was a valid expense.

Don't assume you will get that money come April as IR35 overrides the SDC get out when it comes to expenses see the IR35 examples on Travel and subsistence expenses for workers engaged through 'employment intermediaries' from 6 April 2016 - GOV.UK

and I suspect HMRC may be looking at your claims going forward and disallowing them...

But nice to see Parasol haven't changed their stripes.

[andydd68]

So Fidelity do take ad-hoc payments. But maybe the form is too much work to be viable?
I'll probably just go with HL or AJ Bell. More expensive, but probably easier than trying to change umbrella at this point.

I've a friend who's just been told Parasol will pay into any SIPP. However, they've only started this in the last few weeks due to demand.
While interesting, I don't fancy being a guinea pig for their new services...

Just started with Parasol and they can pay into PensionBee easily enough, took a few emails back n forth, they will only do monthly (not sure wether its a set date) and only a set amount not a %

As for expenses, etc..they seem happy enough to pay mileage, Im working on assumption Im not covered by SDC (yes I know this was discussed earlier in the thread, but SDC is not IR35 although its similar in scope).

They 'will' also pay expenses on software/equipment bought solely for the role, although in practice I found this very difficult and gave up trying to persuade them my O365 licence of £5 was a valid expense.

[gaz777]

The simple thing you need to do is to check with your pension provider first; ideally they need to accept adhoc, non dd payments from the employer, not on a set date, not with a set amount - then you know if it's feasible or not!

So Fidelity do take ad-hoc payments. But maybe the form is too much work to be viable?
I'll probably just go with HL or AJ Bell. More expensive, but probably easier than trying to change umbrella at this point.

I've a friend who's just been told Parasol will pay into any SIPP. However, they've only started this in the last few weeks due to demand.
While interesting, I don't fancy being a guinea pig for their new services...

[lucyclarityumbrella]

The simple thing you need to do is to check with your pension provider first; ideally they need to accept adhoc, non dd payments from the employer, not on a set date, not with a set amount - then you know if it's feasible or not!

As many have said, it may still even be worth paying into their group pension scheme, and transferring our after, at least you still gain the salary sacrifice element.

[northernladuk]

I only changed SIPP last year, due to BestInvest bumping their fees. I'd prefer not go through the hassle of setting up a 3rd provider, but that may be the only solution

Piece of piss setting and iii or HL one up and the same to transfer out.

[northernladuk]

i used contractorumbrella on several gigs.
payment was into their tame pension <scottish widows>.
i transferred <free> into my main <fidelity> fund afterwards.
no real hassle, and no costs.

Yup. I moved out of Scottish Widows to HL and was a cinch. I'm guessing the whole process is that simple, not just picking two good options that are willing to do it properly.

[BR14]

i used contractorumbrella on several gigs.
payment was into their tame pension <scottish widows>.
i transferred <free> into my main <fidelity> fund afterwards.
no real hassle, and no costs.

[gaz777]

I don't think it's a malicious thing. When I phoned today, Fidelity was still on the agent's list. It was only when he double-checked with the pension people he found it had been removed.

Fidelity do actually allow ad-hoc employer contributions: How can my employer make contributions to my pension? | Help & Support
But it looks like a manual form and payment, so maybe it's too complicated / too much work for Paystream? Maybe Paystream initially thought Fidelity would work, then had to drop them after looking into the details?
That's why I was curious if any other umbrella would do fidelity?

I only changed SIPP last year, due to BestInvest bumping their fees. I'd prefer not go through the hassle of setting up a 3rd provider, but that may be the only solution

[Paralytic]

I don't think it's a tactic more a slight lack of care.

Can you pay money into xyz pension - sure not a problem.

xyz has this restriction - opps we weren't aware of that.

Given my experience with Paystream, I'd not be so sure. But, it is reliant on the individual to ask the right questions up front.

From my correspondence with them, NASA do allow payments into pre-existing pensions (and I specifically got them to confirm they could make payments into my provider) and also confirmed they would allow you to change the amount (but did say they'd prefer this was not a monthly thing).

They charge £5 extra but that reduces to £0 for pension providers who they have a good on-going relationship with (Aviva being one).