• 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!

Is it as bad as it seems?

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

    Is it as bad as it seems?

    Hi all

    4 years ago I moved back to Devon, and tended to work in and around London, obviously claiming accommodation, travel etc.

    However I have just been asked for interview by a large well known english banking group and they are one of the all contractors via umbrella inside IR35 lot.

    I know that there is a cover-all 5% tax allowance however with London accommodation and the travel and other unclaimable expenses that is somewhat inadequate.
    The rate is low in comparison and there has been no enhancement to account for IR35 losses.

    It is as bad as it seems or am I missing something?

    ADV-thanks-ANCE
    Never has a man been heard to say on his death bed that he wishes he'd spent more time in the office.

    #2
    unfortunately, yes it is

    Comment


      #3
      Originally posted by Scrag Meister View Post
      I know that there is a cover-all 5% tax allowance...
      Isn't this being removed?

      Comment


        #4
        Originally posted by Paralytic View Post
        Isn't this being removed?
        Unfortunately, yes it is.
        Blog? What blog...?

        Comment


          #5
          Originally posted by BR14 View Post
          unfortunately, yes it is
          Originally posted by malvolio View Post
          Unfortunately, yes it is.
          There's a running theme here.

          Comment


            #6
            Originally posted by BR14 View Post
            unfortunately, yes it is
            Originally posted by malvolio View Post
            Unfortunately, yes it is.
            Originally posted by Paralytic View Post
            There's a running theme here.
            unfortunately, yes , there is

            Comment


              #7
              It's not as bad as it seemed. It's worse.
              Down with racism. Long live miscegenation!

              Comment


                #8
                Originally posted by Scrag Meister View Post
                Hi all

                4 years ago I moved back to Devon, and tended to work in and around London, obviously claiming accommodation, travel etc.

                However I have just been asked for interview by a large well known english banking group and they are one of the all contractors via umbrella inside IR35 lot.

                I know that there is a cover-all 5% tax allowance however with London accommodation and the travel and other unclaimable expenses that is somewhat inadequate.
                The rate is low in comparison and there has been no enhancement to account for IR35 losses.

                It is as bad as it seems or am I missing something?

                ADV-thanks-ANCE
                Worse. Come April you'll lose the 5% expenses allowance as well.
                "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

                Comment


                  #9
                  Is it as bad as it seems?

                  Originally posted by Scrag Meister View Post
                  Hi all

                  4 years ago I moved back to Devon, and tended to work in and around London, obviously claiming accommodation, travel etc.

                  However I have just been asked for interview by a large well known english banking group and they are one of the all contractors via umbrella inside IR35 lot.

                  I know that there is a cover-all 5% tax allowance however with London accommodation and the travel and other unclaimable expenses that is somewhat inadequate.
                  The rate is low in comparison and there has been no enhancement to account for IR35 losses.

                  It is as bad as it seems or am I missing something?

                  ADV-thanks-ANCE
                  2 of my friends have just quit HSBC as they are on £500 a day but commute from jock land and costs £3K ish a month on expenses - now out of net income about £6K leaves just £3K after mortgage and house bills it leaves them negative income

                  Expenses is the killer for people who need to

                  Sent from my iPhone using Contractor UK Forum

                  Comment


                    #10
                    Originally posted by GhostofTarbera View Post
                    2 of my friends have just quit HSBC as they are on £500 a day but commute from jock land and costs £3K ish a month on expenses - now out of net income about £6K leaves just £3K after mortgage and house bills it leaves them negative income

                    Expenses is the killer for people who need to

                    Sent from my iPhone using Contractor UK Forum
                    This harks back to the other post I made, about the government not realising/caring that they are destroying not only contracting but the whole economy built around it. These expenses that we incur are income for someone else's business. Income that creates jobs. Income on which tax is paid. Hotels, landlords, restaurants, transport, insurance, accountancy, umbrellas etc.

                    Contracting is not just about I.T. There is a whole micro-economy built around it and the government will end up killing jobs and receiving much less in tax once they force through their misinformed plans.

                    Comment

                    Working...
                    X