Just been offered to go perm Just been offered to go perm - Page 6
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  1. #51

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    Quote Originally Posted by techsoftlondon View Post
    Well I took your advice and am going perm.

    Next q is when?
    Contract ends on Friday.
    I could start as perm next Monday.
    Or does that look dodgy.
    We had someone here who left on Fri as perm and came back as contractor.

    What happened when the public sector was affected?
    Did contractors go perm?
    or did they all leave for the public sector.

    Still waiting for accountant to reply to my q's about it.
    Really wont miss them and they're one of the biggest but have been VVV sloppy lately.
    Nearly messed up my VAT and Corporation tax this year.
    If you have a break of more than a month it probably helps to argue it's a different engagement. If you want a holiday, take one before starting the new perm role.

    I think your risk is really low whether you take time off or not. IF HMRC looks to go after historical cases, the first ones they will go after are the ones who were outside and there is now an inside determination. That's not you. They MIGHT even start looking for outside to perm, but if so, they'll be looking first at people who did that in March/April.

    There's quite a bit of paranoia around IR35, some of it for good reason, but as far as I know HMRC has never argued in a case that because someone has gone perm they must have been inside before. Going the other direction might make you a target but there is no evidence that going to perm does.

    The best thing you can do is close your company and hold onto your contract reviews. You are unlikely to ever be targeted, but if you are, it is likely to be way down the list, and you should be able to easily get your company closed before anyone ever pays attention.

    Lloyds/Barclays etc are doing people like you a big favour. Their actions mean a lot of contractors are going to be closing their PSCs because there just aren't going to be as many contracts for LtdCo contractors. No way HMRC scrutinises them all to figure out who they should investigate for IR35.

    Get your company closed.

  2. #52

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    Accountant advised to see if permanent works for a few months then close it.

    Also If you have reserves of over 25K it will cost 2000+vat to shut a company down
    but yes I think sooner than later.

  3. #53

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    Quote Originally Posted by techsoftlondon View Post
    and the ones that stayed...how did they mitigate the risk.
    Public sector were even worse that private sector for contractors being completely oblivious of what they are supposed to be. Full of permatractors that saw it as more of a job for life than the perms did. Many of the ones that stayed just carried on without and understanding or any regard for the risks of the situation as they were so entrenched with their clients.

    There is rumour HMRC have sent enquiry letters to some but I'm yet to see any hard evidence of this.
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  4. #54

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    Quote Originally Posted by techsoftlondon View Post
    Accountant advised to see if permanent works for a few months then close it.

    Also If you have reserves of over 25K it will cost 2000+vat to shut a company down
    but yes I think sooner than later.
    Yes, it costs some money to shut it but you can probably claim ER and so pay only 10% tax on the capital distribution.

  5. #55

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    Quote Originally Posted by techsoftlondon View Post
    My boss was using this
    - 460
    - day rate


    To get the same income via permanent employment would require a salary of £104,667
    Your boss is a fool. Close the deal before he realises it.

  6. #56

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    Quote Originally Posted by AnthonyQuinn View Post
    Your boss is a fool. Close the deal before he realises it.
    Christmas has come early for you. The salary alone is at least £25k more than the typical equivalent for contract paying about £450 a day.

    That package is probably more in line with a day rate of 650 plus.

  7. #57

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    Quote Originally Posted by techsoftlondon View Post
    Accountant advised to see if permanent works for a few months then close it.

    Also If you have reserves of over 25K it will cost 2000+vat to shut a company down
    but yes I think sooner than later.
    £2000+?? You haven’t been shopping around. Mine cost less than that.

  8. #58

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    Quote Originally Posted by cojak View Post
    £2000+?? You haven’t been shopping around. Mine cost less than that.
    Care to mention price and provider, I might need their services

  9. #59

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    Quote Originally Posted by ContractorBanking View Post
    Care to mention price and provider, I might need their services
    MVLOnline. Part of the Maslins group that post on here.
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  10. #60

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    It was £2000 if over 25k in the a bank account

    £400 if under

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    Last edited by techsoftlondon; 23rd October 2019 at 14:10.

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