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  • Being offered renewal under umbrella, unsure about where to go from here

    Hi everyone,

    I've been reading lots of IR35 related threads (I'm still confused) but I would also really appreciate your feedback on my current situation.

    I've been with this client since April 2020, renewed once and current contract ends end of coming March. Client has...
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  • Higher tax band if timesheets not approved on time

    Hi,

    As a IR35 contractor through an agency (not umbrella ), I am supposed to be paid weekly. I submitted my timesheets every week but my manager didn't approve them until 1 month so he approved 4 timesheets in one go.

    Now I received the payment for those 4 weeks from the agency...
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    Last edited by petafin; 29 November 2020, 19:00.

  • psv
    started a topic Negative tax on employee payslip

    Negative tax on employee payslip

    Hi All,

    I recently started a contact after being in permanent employment for 4+ years. I'm operating through a LTD company as director. I'm using Primo Payroll (free version).

    I updated previous income and tax deducted as per P45 on Primo payroll. I'm using standard tax...
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  • ChairmanMeow
    started a topic Director PAYE going Perm

    Director PAYE going Perm

    Hi All,

    So I've been out of contract since the beginning of March..... I have now taken the plunge and have gone perm and I plan to close the Limited Company, its just not viable anymore.

    I have always paid myself through a mix of Salary and Dividends, although this year...
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  • psv
    started a topic Payroll query

    Payroll query

    Hi All,

    I'm new to this forum and this is my very first post/query.

    My permanent role was made redundant a couple of months ago. I used to contract few years ago via my own Limited company which has been in dormant state for last 3 years. Last month (Sept) I started a...
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  • Offered new contract. Told it has to be PAYE or Umbrella. Which should I choose?

    Hi all, I have searched the forums but haven't been able to find information that will help answer my query, so I hope that you can help.

    I had been contracting with my LTD company for the past 10 years in various UK organisations all outside IR35. All was going well but as a result of...
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  • mowog
    started a topic Umbrella vs. Agency PAYE?

    Umbrella vs. Agency PAYE?

    Hi all,

    I'm new here, and also new to contracting.

    I've been offered a 6 month public-sector contract with what seems to me like a fairly mind-boggling day-rate. I've been told by the recruitment agency that I can either be paid PAYE through them, or go through an umbrella...
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  • johnhooper
    started a topic L1 Visa Questions

    L1 Visa Questions

    Hello, I've been contracting in the UK at an American bank since August 2019.
    I'd like to be transferred to the NY Office as soon as possible. However, from what I understand regarding the L1 Visa, you need to be an employee for at least 1 year with the bank.
    Do my months as a contractor...
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  • borisk66
    started a topic IR35 deductions - breach of contract

    IR35 deductions - breach of contract

    Surely, based on existing standard contracts, the agency will ordinarily be in breach of contract by making these deductions instead of paying gross?

    Most agency>PSC contracts state a rate, say £500+vat per day, so agency is under a contractual obligation to pay £600 to that PSC,...
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  • Ramsayp
    started a topic Director employee status in IR35

    Director employee status in IR35

    Hi, I am interested in any information around 'director employee status' in the IR35 context i.e. I am effectively already a PAYE employee of my PSC I receive a salary and pension etc (I could even take this further and write my own HR policies). But more practically I have questions, if Im deemed...
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  • Do I really need to register for PAYE as an IT Consultant in my own Limited company?

    I just quit my full-time employment, formed a Limited company and started working directly with a client as a (what I believe to be) self-employed freelance IT consultant. I have just invoiced them for my first week's worked hours and soon expect my company to receive the payment.

    I...
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  • Just opened my LTD, how to deal with paying myself?

    I've finally taken the plunge and opened up own company. When it comes to paying myself I've read that it is best to pay yourself £8,164.00 per year so that you don't need to pay NIC but still get awarded the credits towards your state pension. However if I am to pay myself (it is only me working...
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  • Becoming a spousal maintenance cash cow - or not

    Hi folks,

    I'll try and keep this succint.

    If you're likely to be divorced one day, and (after happily paying full share of a child maintenance + any extra bits your child needs directly) you'd rather see most of your income used to grow a business and pay salaries, rather...
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    Last edited by jacob; 18 July 2018, 22:25.

  • fwd
    started a topic Accounting & Pay for 1 week in the tax year

    Accounting & Pay for 1 week in the tax year

    Hi, In the tax year of 2016/17 I only worked the final week of the year, (last week in April).

    My invoice for the year was 2,750+550 VAT= 3,300 in total.

    I am on the flat rate scheme @ 14%, what’s the treatment to get the maximum. Appreciate if someone could provide...
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  • Existing PAYE employee with second job. Conttact or PAYE ??

    Hello,

    I hope someone can give me some direction

    I have a primary employer who pays me via PAYE at around £90,000. I have been there 10 years

    I have been offered a second role at another company at £75,000 which I can perform as there is no conflict...
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  • Concorde
    started a topic IR35 Employer Pension Contributions

    IR35 Employer Pension Contributions

    Are contractors working with a public sector organisation through a PSC (ltd company) under IR35 deemed employment arrangements able to recover employer's national insurance contributions on company (PSC) pension contributions.
    There seems to be volumes written about IR35 but can't seem to find...
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  • Retrospectively claim dividends as salary - how far back?

    Hi everyone,

    I'm new to running a limited company and I have made the mistake of paying myself and the other 50% shareholder solely in dividends - £15,000 since our incorporation on 03/02/2015. I should note that we're a new start-up and neither director has any other sources of income....
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  • eazy
    started a topic Tax Schemes - Agencies being hit

    Tax Schemes - Agencies being hit

    AccountingWeb : HMRC campaign causes collateral damage
    http://www.accountingweb.co.uk/tax/b...lateral-damage

    Rebecca Cave caught up with Philip Fisher, AccountingWEB columnist and BDO partner, to find out more about the issue.

    ...
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  • PAYE, contracts and work place pensions

    Hi all,

    I was wondering if somebody can advise me on paying a salary to myself and my wife.

    I am the sole director of a private LTD. I am outside ir35 (or at least, believe myself to be and should have a pretty strong case). My wife is not a fee-earner but takes care...
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  • Running a Limited Company for short-term intermittent contracts

    Having retired from full-time work I am hoping to continue working part-time but no more than 6 months in any calendar year. And this 6 months might be made up of a number of shorter periods throughout the calendar year.
    I would prefer to set up a Limited Company rather than go through an umbrella...
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  • Take home differences PAYE+ National insurance

    Right, so i'm new to contracting and have decided to take the umbrella route as i'm not sure if this is long term.

    Anyway, I have been quoted..

    Giant:

    Employers NI:£2844
    PAYE tax: £3624
    Employees NI: £2479

    Paysteam:
    ...
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  • russtifer
    started a topic Salary paid in one go? And how much?

    Salary paid in one go? And how much?

    Hi there,

    My ltd has been trading since mid-April. As of now, I haven't taken any salary or dividends. I've had no other income from other sources.

    I'd like to extract some funds. I realise starting with a salary is the most efficient initial source because it's an expense...
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  • Cpo
    started a topic Dividends or PAYE

    Dividends or PAYE

    I've recently started contracting and setup a limited company. I got an accountant who advised me to take dividends at quarterly intervals and that he didn't think it necessary to setup payroll. When I asked him what about national insurance contributions he said something along the lines of, at the...
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  • Ltd Company already running but now entering full-time job...Puzzled

    Hi all,

    I was wondering if I could get some advice on a situation I don't fully understand. My Ltd company is up and running, already in existence etc. However, I have just accepted a PAYE full-time job, and am unclear about what to do regarding my company. I do have an accountant on-side,...
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  • jubilee
    started a topic Best time ot invoice?

    Best time ot invoice?

    Hi, I formed my company in Dec 2011 and I pay a seperate employee a monthly salary - I have yet to pay myself anything. I was wondering if it makes any difference if I invoice before 5 April or not as I want to withdraw dividends for myself before 5 April tax year end (my personal allowance).
    ...
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  • blinko
    started a topic Seeking salary advice

    Seeking salary advice

    Hi all,

    I am hoping to gain some advice on my salary/dividends.

    This financial year apr 2011 - apr 2012 I have had 2 PAYE jobs for a total of 5 months. I have just started contracting in October and setup my own limited company.

    I have earnt over the tax...
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  • wilson1973
    started a topic Employee PAYE vs Employer PAYE

    Employee PAYE vs Employer PAYE

    Hello to you all and thank you for passing by.

    I'm a newbie contractor (all rather exciting stuff), so please bear with me.

    I am a sole share holder in a limited company and VAT registered with my bank account setup, so in essence have the basic setup complete.
    ...
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  • syd433
    started a topic Working in the Netherlands

    Working in the Netherlands

    Hi,

    I have just secured a contract which will be for the next year beginning in January 2012 based in Holland. My question is regarding tax liability:

    I am a UK passport holder (born in UK but not lived there for years!) and I will be working through a UK based Agency who...
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  • richy
    started a topic HMRC PAYE online?

    HMRC PAYE online?

    Hi All

    Anyone using HMRC PAYE online? I'm thinking to switch to do it myself.. and wonder if it has everything I need to just do it in the web browser.

    My ltd co uses the an accountant to do our PAYE now. I email the Gross amounts each month.. accountant emails back the...
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