Danbro - cracking pension/childcare scheme

[northernladyuk]

Wow... just.. wow.

You yourself said they do in this post.

http://forums.contractoruk.com/umbre...ml#post2443473

You asked and Lucy directly answered your question in this thread.

http://forums.contractoruk.com/umbre...-benefits.html

And I'm sure it's been mentioned more than once in the countless other trash threads you've started about this whole sorry affair.

Just makes you wonder if you come on here to troll and just spout off rather than actually looking to help yourself learn more about what you do. Actually, the answer to that is bloody obvious.

And breathe...

[Hobosapien]

...
6. The rate was upped by 30% to accommodate. ...

Ditto. Having a decent warchest to top up the minimum wage I'm drawing means I can divert the maximum allowance (£40k/year) into a pension pre tax/NI, so that 30% increase means I'm better off than if I'd done same via non-IR35 caught contract.

Just got to keep an eye on when I will hit the 40k limit so start to get taxed heavily, and see if worth renewing (if offered) or using warchest to find 'a proper contract'.

[BR14]

And breathe...

[Fred Bloggs]

Keep an eye on Danbro. I have no idea what their brolly is like, but as contractor accountants they were 100% useless when I used them. And I mean, truly awful.

[northernladyuk]

Keep an eye on Danbro. I have no idea what their brolly is like, but as contractor accountants they were 100% useless when I used them. And I mean, truly awful.

Perfect match for PC. Will look forward to future threads.

[lucyclarityumbrella]

A bit? F me... I hate to see you struggling with something that's a real PITA.

And here's me thinking we made it easier for contractors than operating their own Ltd company

[eek]

And here's me thinking we made it easier for contractors than operating their own Ltd company

Some people will find a way to make anything 100x more complex than it needs to be simply because they can't comprehend why things work the way they do...

Psychocandy trying to save a few pence is a perfect example of that....

[lucyclarityumbrella]

Danbro let you treat all pension contributions as employer contribs. So you're saving ALL the NI (inc employer NI I think?). Same with childcare vouchers - but limit is £28 per week assuming you're higher rate tax payer.

OK let me explain... the employers NI is a reverse calculation based on taxable earnings for the contractor and not the day rate, therefore anything contributed to via salary sacrifice is reducing the taxable salary and therefore reduces the Employers NI, as such will take into account the pension and childcare vouchers.

Should be the same theory with any umbrella salary sacrifice pension.

[psychocandy]

And here's me thinking we made it easier for contractors than operating their own Ltd company

I'm sure you're lot and some of the better umbrellas do. BUT, there are one or two out there who are a bit crap and will do as little as possible for the money.

[psychocandy]

Some people will find a way to make anything 100x more complex than it needs to be simply because they can't comprehend why things work the way they do...

Psychocandy trying to save a few pence is a perfect example of that....

More than a few quid. OK so I want to stick £400 a week into my pension say.

If I went with Sterling, it'd amount to about £25 if I did it via them - because they only do the minimum. The rest (£375) would have to be an AVC. So saving 40% admitedly = £150.

If the whole £400 goes as salary sactifice then it works out saving about 50% - so £200 saved in tax/NI.

Better than a poke in the eye.