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psychocandy
30th March 2017, 09:55
So whats the best approach if you've already got a limited company?

Since there are no expenses is it better to just go umbrella or something like paystream?

I guess you'd still need to keep paying things like accountants, ipse membership, insurance though. But you'd have no money coming into the limited for this?

Is that right?

TheFaQQer
30th March 2017, 10:02
Why not have a look at the FAQ (http://forums.contractoruk.com/public-sector-ir35/120479-working-public-sector-faq-about-ir35.html#post2394880) and see what that says?

northernladuk
30th March 2017, 10:07
PC. Bearing in mind we are a week and a bit away from this does it not occur to you these questions might have been discussed already? I know you like us making all your decisions for you but a bit of research first has to be in order surely?

LondonManc
30th March 2017, 10:09
White shirt, black shoes, plain tie first day. If the dress code is more relaxed, lose the tie. HTHBIDI

northernladuk
30th March 2017, 10:11
White shirt, black shoes, plain tie first day. If the dress code is more relaxed, lose the tie. HTHBIDI

Blimey... When did signing on get posh??

Neil@Intouch
30th March 2017, 13:07
So whats the best approach if you've already got a limited company?

Since there are no expenses is it better to just go umbrella or something like paystream?

I guess you'd still need to keep paying things like accountants, ipse membership, insurance though. But you'd have no money coming into the limited for this?

Is that right?

Some specialist contractor firms are offering a free and flexible approach, so you can keep the company running along side an Umbrella solution. You could then just switch between the two as and when you need to, depending on the role and IR35 status.

LondonManc
30th March 2017, 13:11
Blimey... When did signing on get posh??

You still have to operate as a business. ;)

psychocandy
31st March 2017, 11:29
Some specialist contractor firms are offering a free and flexible approach, so you can keep the company running along side an Umbrella solution. You could then just switch between the two as and when you need to, depending on the role and IR35 status.

Yeh dont want to can my limited or accountant just yet.

psychocandy
31st March 2017, 11:36
Couple of questions:-

1. Any advantage at all with staying limited rather than umbrella if its PS inside IR35?

2. Assume its less hassle for agency if you go umbrella? (because otherwise they'd have to sort the tax rather than umbrella doing it?)

3. Are agencies generally paying less if you dont use an umbrella? see question 2.

TheFaQQer
31st March 2017, 11:38
Couple of questions:-

1. Any advantage at all with staying limited rather than umbrella if its PS inside IR35?

2. Assume its less hassle for agency if you go umbrella? (because otherwise they'd have to sort the tax rather than umbrella doing it?)

3. Are agencies generally paying less if you dont use an umbrella? see question 2.

1) Have you read the FAQ?

2) Have you read the FAQ?

3) Who knows what each agency is paying? They might, they might not, they might even be cheaper than an umbrella. But you'd have to look at the agency and the umbrella and ask them what they are charging to be able to form an opinion.

quackhandle
31st March 2017, 11:53
The fact that HMRC have stated that if you work inside IR35, (in the PS) then they're gonna come after you for some back tax.

Do you really want to faff about with a Brolly?

Walk. The. F**k. Away.

qh

TheFaQQer
31st March 2017, 12:16
The fact that HMRC have stated that if you work inside IR35, (in the PS) then they're gonna come after you for some back tax.

Link?

quackhandle
31st March 2017, 12:31
Link?

If I recall it was on here, let me see if I can find it.

qh

northernladyuk
31st March 2017, 12:59
So whats the best approach if you've already got a limited company?

Since there are no expenses is it better to just go umbrella or something like paystream?

I guess you'd still need to keep paying things like accountants, ipse membership, insurance though. But you'd have no money coming into the limited for this?

Is that right?

In the nicest possible way, you have been operating 'borderline' 'it is what it is' IR35 on your BAU work for ages. Take this opportunity to close down the Ltd and work through an umbrella. You should be pretty safe then.

northernladyuk
31st March 2017, 13:00
Why not have a look at the FAQ (http://forums.contractoruk.com/public-sector-ir35/120479-working-public-sector-faq-about-ir35.html#post2394880) and see what that says?

Speaking of FAQs, FAQQer, could you put together an FAQ for public sector IR35?

quackhandle
31st March 2017, 13:16
IR35 inspectors to probe public PSCs retrospectively :: Contractor UK (http://www.contractoruk.com/news/0012890ir35_inspectors_probe_public_pscs_retrospec tively.html)

Source is QDos, so not guaranteed they will come after you but I'd certainly put my mortgage on Hector trying it on.

qh

SueEllen
31st March 2017, 13:54
IR35 inspectors to probe public PSCs retrospectively :: Contractor UK (http://www.contractoruk.com/news/0012890ir35_inspectors_probe_public_pscs_retrospec tively.html)

Source is QDos, so not guaranteed they will come after you but I'd certainly put my mortgage on Hector trying it on.

qh

As what Eek predicted....

DotasScandal
31st March 2017, 13:58
As what Eek predicted....

And yours truly ;)

Semtex
31st March 2017, 14:20
And yours truly ;)

correct DS you did, but you're not one of Eeks little minions which is why you were not mentioned :laugh

MrMarkyMark
31st March 2017, 15:12
correct DS you did, but you're not one of Eeks little minions which is why you were not mentioned :laugh

Heres hoping all the many newcomers will contribute as much and pick up the slack.

I won't hold my breath :laugh

Andy Hallett
3rd April 2017, 06:48
Many of our contractors are using a brolly for Inside work and Ltd for outside.

E.g. "I was employed when I should have been employed. I use my Ltd for consultancy work Guvnor"

WordIsBond
3rd April 2017, 07:09
correct DS you did, but you're not one of Eeks little minions which is why you were not mentioned :laugh
As obsessed with him as you seem to be, I'm starting to wonder if you are his sockie. :rolleyes:

psychocandy
4th April 2017, 10:10
Many of our contractors are using a brolly for Inside work and Ltd for outside.

E.g. "I was employed when I should have been employed. I use my Ltd for consultancy work Guvnor"

Yes maybe thats the best idea. Of course, still have to pay for accountant whilst working as brolly. Although to be fair they do have a half price deal...

Since my end of year is in a month and I'm just starting in an inside IR35 that could well roll for a while, I do wonder if its going to be worth closing the company down. And then re-open afresh at next contract - if its outside.

northernladuk
4th April 2017, 10:16
Normally I'd point out it's just one gig and look at the bigger contracting picture. The gig could fold before you walk in on the first day etc etc. But... Seems we are talking about you here, you've just come out of a PS gig, you are going in to another one. It looks like you've been pigeonholed now so could be safe to say you are a PS contractor now so shutting it might be an option I these circumstances. If you were in for one gig and likely to bounce out Id say different t.