I am currently in contract inside IR35 for a PSC client. I accepted the initial contract post the whole IR35 situation thinking it was going to be only a few months. They have now asked me to extend another 12 months.
(As an aside, is it possible to get an inside IR35 contract flipped to be outside? Obviously by adopting different working practices that are truly outside IR35) I already choose the hours I work and use some of my own equipment regularly.
The main question here is Pension contributions. I have a mortgage on a few properties, and up until now I have left my pension dormant in favor of paying down my mortgage; it is going well. However when I calculate my tax bill over the next 12 months, I think I would be better off leaving the mortgages and putting money on my pension instead, gaining tax relief in the process. My current situation is I continued to work through my Limited Company. My agency is covering the fees their accountant charges to operate PAYE, so there is no difference to me than before; they pay me with Tax and NI deducted, and I pay myself 100% salary. Expenses aren't an issue (before someone points that out) as I am 3 miles from home.
I have asked my agent, but they are not being quick about responding to me.
Can I instruct their accountant to pay directly into my stakeholder pension before deducting tax?
Thanks
(As an aside, is it possible to get an inside IR35 contract flipped to be outside? Obviously by adopting different working practices that are truly outside IR35) I already choose the hours I work and use some of my own equipment regularly.
The main question here is Pension contributions. I have a mortgage on a few properties, and up until now I have left my pension dormant in favor of paying down my mortgage; it is going well. However when I calculate my tax bill over the next 12 months, I think I would be better off leaving the mortgages and putting money on my pension instead, gaining tax relief in the process. My current situation is I continued to work through my Limited Company. My agency is covering the fees their accountant charges to operate PAYE, so there is no difference to me than before; they pay me with Tax and NI deducted, and I pay myself 100% salary. Expenses aren't an issue (before someone points that out) as I am 3 miles from home.
I have asked my agent, but they are not being quick about responding to me.
Can I instruct their accountant to pay directly into my stakeholder pension before deducting tax?
Thanks
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