• 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!

Corporation tax inside IR35

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

    Corporation tax inside IR35

    Hi folks,

    I have a simple question which I am struggling to find a clear answer to.

    I have a limited company. 1 client who pay me monthly. Private sector. The one contract falls inside IR35.

    Each month my accountant runs the IR35 calculation and I pay myself the 95% deemed payment as salary. I pay PAYE and NIC tax at this point.


    Am I right in thinking that I should only be liable for the other 5% when it comes to paying corporation tax?


    Many thanks

    #2
    Yes that is correct and there will be some business expenses that reduce the 5% for you such as accountancy fees and insurance.

    Comment

    Working...
    X