• 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.

Deemed LtdCo payment direct to SIPP

Collapse
X
Collapse
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    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?

    #2
    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.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

    Comment


      #3
      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

      Comment


        #4
        ..didn't see threads on the scenario agency paying to LtdCo directly (as opposed to umbrella paying salary to individual). Can it work?

        Comment


          #5
          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.
          merely at clientco for the entertainment

          Comment


            #6
            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?

            Comment


              #7
              Originally posted by professor View Post
              What is stopping agencies from changing that model?
              The law
              merely at clientco for the entertainment

              Comment


                #8
                16
                Entropy is NOT what it used to be.
                Inertia, however........................

                Comment

                Working...
                X