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  1. That's it, by Jove, we've solved it! Except......

    That's it, by Jove, we've solved it!

    Except...

    Hang on a sec...

    Oh yeah. SNCF is also state-owned.
  2. Thread: Varna

    by Amanensia
    Replies
    5
    Views
    209

    If there's a ship called Demeter in the harbour,...

    If there's a ship called Demeter in the harbour, might be best to stay indoors at night.
  3. Replies
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    1,530

    Client is irrelevant. The point is you've gone...

    Client is irrelevant. The point is you've gone from being a business owner, to a simple employee of a firm in which you have no ownership interest.

    Might or might not be irrelevant for IR35...
  4. Replies
    14
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    583

    Nobody knows. Some say as you will be inside...

    Nobody knows.

    Some say as you will be inside IR35 going forward, HMRC will see that as a "win" and not bother looking any closer.

    Some say the fact that you are going to be inside IR35 doing...
  5. Replies
    15
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    1,530

    I recently took advice on this from my own...

    I recently took advice on this from my own accountant, and from a friend who is a tax partner in a major UK accountancy firm. Both were of the strong opinion that MVL -> Umbrella is absolutely no...
  6. Replies
    225
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    7,174

    Poll: Ten days ago Labour were 25/1 to get the most...

    Ten days ago Labour were 25/1 to get the most seats. Five days ago they were 20/1. Today they are 10/1.

    I don't think they are going to win, but people are starting to disagree...
  7. Replies
    48
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    3,683

    Only if you were a member of a registered pension...

    Only if you were a member of a registered pension scheme in the years for which you wish to use the allowances (any scheme - doesn't have to be the one you want to pay into now.) But if you're not...
  8. Replies
    38
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    1,421

    I tend to work in banks and insurance companies. ...

    I tend to work in banks and insurance companies. The coffee is bad, but not that bad.
  9. Replies
    38
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    1,421

    In 20 years of contracting at more than a dozen...

    In 20 years of contracting at more than a dozen different clients, I've never been asked to take a medical or provide any medical history. I'd see it as a very strange request indeed.
  10. Replies
    20
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    1,287

    Ah yes, missed that, apologies Patrick.

    Ah yes, missed that, apologies Patrick.
  11. Replies
    20
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    1,287

    Why not? The intermediary will charge VAT.

    Why not? The intermediary will charge VAT.
  12. Replies
    20
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    1,287

    Never heard of him. Seems like that's just as...

    Never heard of him. Seems like that's just as well.
  13. Replies
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    1,287

    This doesn't make any sense. The end client now...

    This doesn't make any sense. The end client now just pays the VAT to the Umbrella company rather than the LtdCo. The client is still paying unreclaimable VAT, it's just that now it's going to HMRC...
  14. Assuming you're talking about a large private...

    Assuming you're talking about a large private sector client, the client is only responsible for inside/outside determination from April 6th (assuming the changes go through as expected.) ...
  15. Thread: Aviva

    by Amanensia
    Replies
    29
    Views
    1,948

    Good pal of mine is an Aviva contractor. He's...

    Good pal of mine is an Aviva contractor. He's leaving at the end of the year but they offered him more to stay on. So it's definitely not true to say that Aviva have "cancelled all contractors."
  16. I would certainly be taking dividends up to the...

    I would certainly be taking dividends up to the top of the standard rate income tax band before putting anything into a pension.
  17. Yeah, I'm 49 next month and going through the...

    Yeah, I'm 49 next month and going through the same thoughts!

    Remember the minimum age for drawing PP benefits will rise to 57 in 2028. Sounds like that might affect you if you're 46 now...
  18. Bear in mind the contribution limit for tax...

    Bear in mind the contribution limit for tax efficiency is £40k per year. You can also whack in £40k for each of the previous three years although you must have been a member of an approved pension...
  19. Thread: BT - IR35

    by Amanensia
    Replies
    21
    Views
    2,251

    Making most roles umbrella (I understand what you...

    Making most roles umbrella (I understand what you mean, but umbrella PAYE is not the same thing as inside IR35, and not all roles are affected at all banks.)
  20. Replies
    16
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    1,047

    Yup......

    Yup...

    And yup again...
  21. Dividends should only be declared up to a maximum...

    Dividends should only be declared up to a maximum of the profits made by the company (not forgetting to allow for the tax due on those profits.) These profits may be from the current or previous tax...
  22. Replies
    36
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    1,135

    Stick with the 1978 version.

    Stick with the 1978 version.
  23. Replies
    77
    Views
    2,644

    I shan't be shedding any tears.

    I shan't be shedding any tears.
  24. 13/12 to 6/1. Contract ends 31/12 anyway. Was...

    13/12 to 6/1. Contract ends 31/12 anyway. Was asked to work an extra week into the furlough but politely declined :wave:
  25. Replies
    10
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    874

    They've gotta win first...

    They've gotta win first...
  26. Replies
    11
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    852

    A company contribution is truly gross. A...

    A company contribution is truly gross. A personal contribution paid from funds that you received as salary is not really fully gross, as the company will have borne Employer's NI on the salary,...
  27. Thread: VAT Charging

    by Amanensia
    Replies
    7
    Views
    367

    Why are the consultancy not paying VAT?

    Why are the consultancy not paying VAT?
  28. Replies
    11
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    544

    I'm starting a definitively deemed-outside...

    I'm starting a definitively deemed-outside contract with a new client in January.

    I am not alone.
  29. Replies
    20
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    1,125

    Sounds promising - good luck!

    Sounds promising - good luck!
  30. Replies
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    1,125

    I see, that does make some sense I guess. I...

    I see, that does make some sense I guess.

    I think I would definitely be having a full and frank conversation with the client before stopping invoicing though. As part of that conversation I would...
  31. Replies
    20
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    1,125

    I'm struggling to follow this? Issuing an...

    I'm struggling to follow this?

    Issuing an invoice is just the way that you tell the agent that they owe you money. If you don't invoice, you ain't getting paid. If you do invoice, you still may...
  32. I tend to reply that if I took a permanent role,...

    I tend to reply that if I took a permanent role, the total tax paid via PAYE/ERNI would be very significantly lower than the total tax I actually pay via CT, dividend tax and PAYE. So I'm better off...
  33. Replies
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    6,192

    This.

    This.
  34. This.

    This.
  35. Replies
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    I don’t think you quite get it. Labour’s plans...

    I don’t think you quite get it. Labour’s plans to increase dividend tax, without taking account of the fact that dividends are paid net of CT already, results in a WORSE outcome than just putting...
  36. Well, considering you asked the question only...

    Well, considering you asked the question only giving revenue and not profit, what do you expect!
  37. Replies
    55
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    4,049

    It’s like someone promising not to punch you in...

    It’s like someone promising not to punch you in the stomach but only if you let them kick you in the balls instead.
  38. Replies
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    4,049

    Setting dividend tax to marginal income tax rate,...

    Setting dividend tax to marginal income tax rate, ignoring the fact that CT has already been paid, makes IR35 irrelevant anyway.
  39. Replies
    6
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    448

    Might possibly be useful to denominate a...

    Might possibly be useful to denominate a shareholder as a company officer for eventual ER eligibility.
  40. 5% or 7% of your profits, respectively. ...

    5% or 7% of your profits, respectively.

    However I’ve not seen any indication that CT will rise to those levels for small companies. More likely is 21% under Labour, and no change under the...
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    1,046

    Labour don’t need to do anything regarding IR35. ...

    Labour don’t need to do anything regarding IR35. They’ll just treat dividends as completely taxable gross income. Problem solved.
  42. It's such an odd suggestion I couldn't quite work...

    It's such an odd suggestion I couldn't quite work out initially why they'd make it. Everyone would just pay salaries instead, which are obviously out of pre-tax company funds so only get taxed once...
  43. Interesting, it hadn't occured to me that they'd...

    Interesting, it hadn't occured to me that they'd be applying full personal taxes on top of Corporation Tax - but of course they must be, as otherwise "equalising tax treatment of dividends with...
  44. Replies
    155
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    6,880

    Nobody really understands economics. Anyone who...

    Nobody really understands economics. Anyone who tells you they really do, just doesn't understand that they don't understand.

    That goes double for economists.
  45. Not just to keep the seat warm, but in general I...

    Not just to keep the seat warm, but in general I will do what is necessary to get the job done. I really don't understand the clockwatching attitude some people have. I mean, sure, if you have a...
  46. Replies
    3
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    641

    It'll take a while, but we'll get there, in many...

    It'll take a while, but we'll get there, in many cases. Particularly for relatively niche skillsets with large barriers to entry.
  47. Inside from April ---> no travel expenses...

    Inside from April ---> no travel expenses claimable ---> large extra expense for the contractor ---> more likely to leave
  48. Thread: NSFAtW

    by Amanensia
    Replies
    3
    Views
    275

    A clue.

    A clue.
  49. Replies
    58
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    6,192

    We're at (3) at the moment. Looks like the...

    We're at (3) at the moment. Looks like the progression is gonna be:

    4. Client doggedly refuses to up rates, loses 75% of resources, half to competitors offering "outside" roles, and the other...
  50. Replies
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    6,880

    We agree about one thing at least.

    We agree about one thing at least.
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