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  1. Replies
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    Keep the loan no more than £10k, and pay it back...

    Keep the loan no more than £10k, and pay it back within nine months of the company year end in which it was made.

    Do this and there's no need to charge any interest, no liability to any tax and no...
  2. Replies
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    294

    Once you've been offered the job I'd start asking...

    Once you've been offered the job I'd start asking questions like this. It's fully expected; if they aren't a tiny company they'll have plenty of people doing sacrifices (although probaby not as much...
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    That's not an unreasonable approach. Bear in...

    That's not an unreasonable approach.

    Bear in mind there will probably be a "normal" pension contribution - for example, the company might pay (making the numbers up here) 5% of pensionable salary...
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    I'm quite surprised to hear it's just happening...

    I'm quite surprised to hear it's just happening now. I went onto the new system about 18 months ago. Maybe I was a guinea pig. Doesn't sound like they learnt anything in those 18 months though!
  5. This. The percentages are deliberately...

    This.

    The percentages are deliberately published the way they are so people will react precisely as the OP has.
  6. Replies
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    1,893

    That's what I did when they first did this new...

    That's what I did when they first did this new website thing a year or two back, locking me out of my account for a couple of weeks in the process.

    Starling has been roughly a trillion times more...
  7. Replies
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    Danes? Great.

    Danes? Great.
  8. Replies
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    477

    Yes, backwards compatibility is guaranteed. But...

    Yes, backwards compatibility is guaranteed. But does the laptop not have a type-A port you can use?
  9. Replies
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    Unless you can manage the extraction very...

    Unless you can manage the extraction very carefully, though, pension funds are taxable on withdrawal, unlike ISA funds. And of course with an ISA you don't have to wait until you're 55/57/whatever. ...
  10. Replies
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    If you're using an Umbrella the whole concept of...

    If you're using an Umbrella the whole concept of IR35 is irrelevant. You're an employee of the Umbrella. You might be quoted a day rate but really you're being paid a salary - just one that flexes...
  11. Replies
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    Ask your accountant! And if you can't ask your...

    Ask your accountant! And if you can't ask your accountant, ask Google!

    Whaddya think this is. A forum or summat?
  12. Depends how you look at it. Myself and my wife...

    Depends how you look at it.

    Myself and my wife (both employed directors) generally take a guest each (a couple we are very good friends with) out to a slap-up dinner, spending £600. We'd do the...
  13. Replies
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    4,583

    He's right. Most roles in banks are certainly...

    He's right. Most roles in banks are certainly inside but I'm aware of several people in my niche who are still outside. Indeed, the team I left (at a UK big four bank) for a new role at the end of...
  14. Replies
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    Agreed, but it was implied (I think!) from the OP...

    Agreed, but it was implied (I think!) from the OP that he had historic year allowances to use up. As long as a pension was in place, even if not contributed to, for the previous three tax years,...
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    Why? I put £80k in last year and took a salary...

    Why?

    I put £80k in last year and took a salary of £16k. There's no earnings-related restriction for employer contributions.

    Edit: apologies, just spotted the bit about being inside IR35.
  16. Do you mean substantially more?

    Do you mean substantially more?
  17. If the "three hefty deductions" are the...

    If the "three hefty deductions" are the Umbrella's fee, Employer's NI and the apprenticeship levy, you'll be paying the second and third one either way. If the agency thinks they've got a way of...
  18. Replies
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    Tough to afford cigarettes on that rate.

    Tough to afford cigarettes on that rate.
  19. Thread: Perm vs FTC

    by Amanensia
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    1,104

    Hard to see much of a downside, particularly if...

    Hard to see much of a downside, particularly if it's genuinely CV-enhancing. If their reason for "no contractors" is predominantly to do with fitting in with groupwide policy rather than cost, as is...
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    I quite often ask for changes to notice periods;...

    I quite often ask for changes to notice periods; I ask for none (although if they insist, I'm quite happy for it to be asymmetric - I have to give notice, while they don't.)

    It reflects the nature...
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    Yep. It’s certainly not cost-neutral for the...

    Yep.

    It’s certainly not cost-neutral for the client to go from paying rate + VAT to paying lower-rate plus ERNI. I suspect the logic is partly that VAT is seen as a cost of doing business that...
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    It depends. In finance, typically VAT is not...

    It depends.

    In finance, typically VAT is not reclaimable. Under some circumstances, some of your VAT may be reclaimable if your costs can be wholly or partially apportioned to a business...
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    Your friend is wrong. I left Lloyds at the end...

    Your friend is wrong.

    I left Lloyds at the end of last year, rather than go perm/FTC. The two contractors in my department who did go perm are both very much still there. I chatted with one of...
  24. Replies
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    I'm in the process of moving away from Sky, as...

    I'm in the process of moving away from Sky, as they've hiked the TV cost so much we're just going to dump it, and made sense to look at broadband at the same time. I'm not massively price-conscious...
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    Disinterested is usually a great thing to be. ...

    Disinterested is usually a great thing to be. Uninterested, on the other hand...
  26. Replies
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    It's possible. It may even be likely. It's not...

    It's possible. It may even be likely. It's not certain.
  27. Replies
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    These seem like perfectly reasonable questions to...

    These seem like perfectly reasonable questions to me. I'm not sure why everyone should always ask their accountant first - much quicker and easier to get simple answers to simple questions...
  28. And were a member of a pension scheme (any...

    And were a member of a pension scheme (any pension scheme) in each prior year for which you are using your historic allowance.

    (I appreciate that's probably what you meant, just wanted to be...
  29. That's not correct for employer contributions.

    That's not correct for employer contributions.
  30. There are several "outside" roles in modelling at...

    There are several "outside" roles in modelling at LBG. Mostly highly specialised roles that require significant actuarial knowledge as well as experience with Prophet/ALS/MoSes development. The R...
  31. Replies
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    At least he didn't ask if you've checked with...

    At least he didn't ask if you've checked with your accountant first!
  32. Replies
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    ECHR has absolutely nothing to do with the EU.

    ECHR has absolutely nothing to do with the EU.
  33. Replies
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    I would be very relaxed about making gifts of...

    I would be very relaxed about making gifts of shares (or anything else) to a bona fide spouse - no need for dressing it up as a purchase. I'd feel much safer doing that than having multiple share...
  34. Replies
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    If you're going to be employed directly by TCS,...

    If you're going to be employed directly by TCS, and not by an Umbrella or similar, I'm not sure this would look any different from the outside to you just taking a completely unrelated permie job...
  35. Replies
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    How long have you been there? Many people...

    How long have you been there?

    Many people would say not to go down this route in a million years but I dunno. If you've been there forever then I'd probably agree but I don't see this as being...
  36. Replies
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    I'd do as Lance suggests. TCS won't can you...

    I'd do as Lance suggests.

    TCS won't can you while the client still wants you and is paying them for you. Just make sure you ask very clearly for the salary you need, and don't get fobbed off by...
  37. Replies
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    I'm not saying it is! As I made clear in the...

    I'm not saying it is! As I made clear in the rest of my post, it's not something I have done or would do.
  38. Replies
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    I know many other contractors that use different...

    I know many other contractors that use different share classes for spouses in order to declare separate dividends. None of them have had any issues with this but I've never bothered with it, on the...
  39. Replies
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    How? SDC yes, but IR35? It simply doesn't apply...

    How? SDC yes, but IR35? It simply doesn't apply once you're a fully PAYE employee, whether of an umbrella company or not.
  40. Replies
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    Umbrella = employed = IR35 is irrelevant. Unless...

    Umbrella = employed = IR35 is irrelevant. Unless you were making a joke that I'm too dense to get...
  41. Replies
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    A law banning anyone from Leeds visiting Dortmund?

    A law banning anyone from Leeds visiting Dortmund?
  42. I'm completely the opposite - actively avoid...

    I'm completely the opposite - actively avoid anything with obvious designer names on it. Frankly covering yourself in advertising is chavvy. A genuine haute couture dress or whatever doesn't have...
  43. Replies
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    This seems to be becoming a small "thing" - a...

    This seems to be becoming a small "thing" - a friend and former colleague is working at a client who are in the process of moving at least some of their contractors onto a FTC using a formula along...
  44. Replies
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    The Umbrella companies want you to go through...

    The Umbrella companies want you to go through Umbrellas as that's their business.

    The agency wants you to go through an Umbrella as it's hassle for them that they'd much rather someone else did. ...
  45. Replies
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    It's probably a way of saying "have you asked...

    It's probably a way of saying "have you asked your accountant?"
  46. Replies
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    Not in and of itself, no. But it puts you in a...

    Not in and of itself, no. But it puts you in a much stronger bargaining position when it comes to setting up working practices etc the way you want - because there aren't 50+ other people all...
  47. I'm living proof that that's not true.

    I'm living proof that that's not true.
  48. Replies
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    Basically if you've got genuine niche skills that...

    Basically if you've got genuine niche skills that are really tough to source, clients are likely to make the effort to put you outside. If your skills are more generic (even if you really are...
  49. Only one person has said anything different!

    Only one person has said anything different!
  50. Any answer to this can only be an opinion, and...

    Any answer to this can only be an opinion, and worth as much as you are paying for it, but my view would be that there is almost no risk here. HMRC would need to be remarkably sure of themselves to...
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