If I only contract for 6 months of the year, does this have unforeseen consequences for NI /Tax when working through an Umbrella / IR35?
I think I read something on a thread that suggested that if I worked for 6 months at £X a day and took the remaining 6 months off, I'd end up paying more tax and NI that if I worked 12 months at £X/2 a day.
I think the suggestion was more NI would be paid, but I can't find the post and can't remember the reasoning behind it. Can anyone clarify this?
I think I read something on a thread that suggested that if I worked for 6 months at £X a day and took the remaining 6 months off, I'd end up paying more tax and NI that if I worked 12 months at £X/2 a day.
I think the suggestion was more NI would be paid, but I can't find the post and can't remember the reasoning behind it. Can anyone clarify this?
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