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  1. A possible advantage of getting the tax-free 25%...

    A possible advantage of getting the tax-free 25% out of the pension as soon as possible is that it minimises the proportion of the lifetime allowance it uses up. The mortgage is a good place for it...
  2. Bear in mind that anything left in the company...

    Bear in mind that anything left in the company will be available to hand over to HMRC if they one day disagree with your IR35 judgements going back several years. Money that's in your pension is...
  3. here I use my earnings as a limit, not the 40,000...

    here I use my earnings as a limit, not the 40,000 limit, because my earnings are less than 40,000

    The annual allowance is 40,000 a year, regardless of your earnings. So your annual allowance is...
  4. Employer pension contributions aren't made out of...

    Employer pension contributions aren't made out of profits, they are an expense at the time they are paid, just like salary. If your contribution is sufficiently large (when combined with other...
  5. Replies
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    I'm not following the argument closely enough to...

    I'm not following the argument closely enough to understand in what scenario yes didn't mean consent, but reasonable belief of consent is a defence against a rape conviction, so even if yes didn't...
  6. I think you're really over-thinking this. The...

    I think you're really over-thinking this. The client has said use a limted co, so really you have no choice. (Saying you won't work for them because of this is tail wagging dog.)




    Point 1:...
  7. Replies
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    5,255

    Well, this is a bit embarrassing. It turns out my...

    Well, this is a bit embarrassing. It turns out my accountants have be running an umbrella since 2016. Cost £19.50 a week. Which works out at about £100 a year more than they're charging me to run a...
  8. Replies
    31
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    5,255

    Pensions are a non-issue for me, I can't make any...

    Pensions are a non-issue for me, I can't make any more contributions. (But that is a very good point, generally speaking. Until a couple of years ago I was putting massive amounts into my pension,...
  9. Replies
    31
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    5,255

    Thanks. that's useful information about the...

    Thanks. that's useful information about the agencies insisting on brollies so they can offload the admin, I hadn't thought of that. So I may not have any choice.


    My accountant charges £62.50 a...
  10. Replies
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    6,812

    I did wonder if the agency would pay me as an...

    I did wonder if the agency would pay me as an individual directly, given that the reason main reason for not doing so in the past, liability for payroll taxes, would not be an issue.

    What's...
  11. Replies
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    6,812

    £900 a year inclusive of VAT.

    £900 a year inclusive of VAT.
  12. Replies
    31
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    5,255

    I won't be doing anything different, unless you...

    I won't be doing anything different, unless you can tell me the name of a brolly that charges less per month than it costs me to run a company. I don't understand how running a PSC, including payroll...
  13. Is it actually necessary to sell the properties...

    Is it actually necessary to sell the properties to the company so they can get the rent? Are there any rules against making an interest-free loan to a company you own? If not, you could lend them the...
  14. Replies
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    1,283

    £11+VAT PCM? Plusnet charged a one-off fee of...

    £11+VAT PCM?

    Plusnet charged a one-off fee of £5 to convert my residential broadband to a static IP.

    I've just checked their charges, and apparently for business accounts you can have multiple...
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    875

    If your work is irregular, i.e. not 9-5 every day...

    If your work is irregular, i.e. not 9-5 every day of the week for months at a time, then you could pay more National Insurance via an umbrella than you would as director of your own company. For...
  16. I don't think there's any requirement for pension...

    I don't think there's any requirement for pension contributions to be made in the same financial year as the earnings that support them.

    I have in the past made a loss paying pension contributions...
  17. Replies
    7,657
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    566,877

    I think the advantage of the lack of a central...

    I think the advantage of the lack of a central bank was supposed to be to do with making it a non-inflationary currency.

    The fact that a pound loses 2%-3% of its value each year seems less of a...
  18. Replies
    7,657
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    566,877

    It's said that the reason that legal tender...

    It's said that the reason that legal tender (pounds, dollars, whatever) still has value after coming off the gold standard is because it can be (has to be) used to pay taxes. The need to pay taxes...
  19. Replies
    7,657
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    566,877

    I'm just repeating Bank of England views. You'd...

    I'm just repeating Bank of England views. You'd better write to them and tell them they don't understand.

    (Unless I've misrepresented their view.)

    Just googled, here's an article from yesterday...
  20. Replies
    7,657
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    566,877

    Apparently BOE have been considering issuing a...

    Apparently BOE have been considering issuing a cryptocurrency for a couple of years now, but there are some banking issues I don't fully understand deterring them.

    Apparently the only BOE money...
  21. Replies
    7,657
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    566,877

    I think that counts as niche use as a currency. I...

    I think that counts as niche use as a currency. I think that is a plausible scenario. It probably depends if any cryptocurrencies that may be used by the general public in future give the benefits of...
  22. Replies
    7,657
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    566,877

    So everyone knows it's going to end up at zero,...

    So everyone knows it's going to end up at zero, but are trying to out-guess everyone else about when to get out?

    Or, it's not going to zero, as there will be an infinite supply of new speculators?...
  23. To be logically consistent with current UK taxes,...

    To be logically consistent with current UK taxes, CGT on sales would make sense. However I read recently how Belgian wealth tax works, and we could change to taxing all assets that way. So no more...
  24. Thread: Catch 22

    by IR35 Avoider
    Replies
    45
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    2,755

    Some other memorable scenes/lines from the book...

    Some other memorable scenes/lines from the book involved Captain Aardvark. I remember him as having killed Nately's whore, but I found the relevant bit in wikipedia (many of the characters have their...
  25. I've been caught by this. Bought something off a...

    I've been caught by this. Bought something off a random web site, turned out it came from China.

    The worst bit is that it's not just the VAT you pay, you have to pay the courier an admin fee in...
  26. If shunning the FTSE 100 was unintentional, the...

    If shunning the FTSE 100 was unintentional, the the easiest fix would be to replace the "ex UK" fund with an all-world one.

    Another tip: I prefer ETFs to mutual funds, as they can be cheaper with...
  27. You seem to be shunning companies in the FTSE...

    You seem to be shunning companies in the FTSE 100?

    Regardless, you will be fine with that.

    You would also be fine with any similar portfolio that didn't shun FTSE 100.

    You would...
  28. Replies
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    From memory (when I looked into it) you get 1...

    From memory (when I looked into it) you get 1 extra box free but have to pay for any beyond that.

    My memory may be wrong.
  29. Your company's tax year is irrelevant in deciding...

    Your company's tax year is irrelevant in deciding what contributions you can make without breaching pension annual allowance.

    You can make another 40K contribution in April because it is a...
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    879

    I was imagining "Vera" would be a new product...

    I was imagining "Vera" would be a new product from www.realdolls.com
  31. I've only skimmed your proposal, but I I think...

    I've only skimmed your proposal, but I I think I've understood the gist of it. I feel qualified to comment as I joined a company set up on a (in some but not all respects) similar basis when IR35 was...
  32. I'm a gentler soul than Lukemg, so I couldn't be...

    I'm a gentler soul than Lukemg, so I couldn't be as blunt as he was. But I'm screaming similar things to myself in the privacy of my own head.

    If you are paying approaching 2% on a balanced fund...
  33. Replies
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    2,475

    If not already familiar, you'd need to acquaint...

    If not already familiar, you'd need to acquaint yourself with how investment trusts work, in particular understand the problems/opportunities caused by share price being at a premium/discount to NAV....
  34. Replies
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    2,475

    Have you considered getting exposure to p2p via...

    Have you considered getting exposure to p2p via investment trusts? Then you could invest via any normal ISA or SIPP.

    I am about to use the Funding Circle fund, as it seems to be the purest and...
  35. Replies
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    There's a reason why in both the UK and the US...

    There's a reason why in both the UK and the US there is a legal requirement to say past performance does not predict the future.

    You should never take past performance into account when choosing...
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    Sticky: In case any newbies are reading the thread, I'll...

    In case any newbies are reading the thread, I'll just clarify that you meant you need to pick the 10% that will outperform in future, not that have outpeformed in the past. Which, long story short,...
  37. Replies
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    1,870

    Cheaper. Not sure if there's a definition of...

    Cheaper. Not sure if there's a definition of efficient (other than accounting costs) where they differed significantly.

    Another drawback of umbrella's is that they won't (or wouldn't when I...
  38. Replies
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    1,870

    When I last considered this, several years ago,...

    When I last considered this, several years ago, it turned out that it was cheaper to run your own company than use an umbrella.

    That appears to still be the case. Crunch Accounting are charging me...
  39. I agree that after using current year allowance,...

    I agree that after using current year allowance, the oldest unfilled year is always next in line.
  40. Replies
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    I think you've missed the fact (that Maslins...

    I think you've missed the fact (that Maslins already mentioned) that you probably won't get tax relief on the pension contributions.

    Assuming it costs you 1K a year to run the company, it'll cost...
  41. Replies
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    25,684

    If you make pension contributions out of retained...

    If you make pension contributions out of retained earnings from previous years then presumably you are going to make a loss. You need to check that you will be able to offset that loss against...
  42. I don't gamble (unless you count a brief period...

    I don't gamble (unless you count a brief period of financial spread-betting in the late nineties) but I was recently speaking to an immigrant with a partner with form for losing family money, and was...
  43. Replies
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    You can open a SIPP account and make employer...

    You can open a SIPP account and make employer "single contributions" of whatever amount you decide is appropriate. I used to make such contributions quarterly, but you can make them as often or as...
  44. I've just fiddled with one of my spreadsheets,...

    I've just fiddled with one of my spreadsheets, and I reckon with about 30K income I'd make about £770 on flat rate VAT which would fall short of paying the accountants bill by £160. No umbrella is...
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    According to someone being interviewed on news...

    According to someone being interviewed on news last night, the law will achieve its aim without any need for court cases. What will happen is that accountant's professional indemnity insurance will...
  46. Replies
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    37,977

    I think 5% is for a level annuity at state...

    I think 5% is for a level annuity at state pension age. Which means no inflation increases. A 3% escalation (3% a year increase) might be better, in which case you get 3.5%.

    4% is a rough rule of...
  47. When I was in that situation, I left the money in...

    When I was in that situation, I left the money in the company for up to nine years before I managed to withdraw it all in years when I could so without paying higher rate tax.

    While in the company...
  48. Replies
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    As has been said, you give your name when opening...

    As has been said, you give your name when opening an account, but strictly speaking the account contents do not belong to you in the way those in an ISA or bank account would.

    A SIPP is usually a...
  49. I'm up more than 60K since Brexit. Two thirds of...

    I'm up more than 60K since Brexit. Two thirds of my pension and ISA savings are in non-UK equities which (I think) automatically increase by however much the pound falls against the currency they are...
  50. Replies
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    2,952

    Does anyone else think that any loan balances...

    Does anyone else think that any loan balances outstanding after 30 years should be charged back to universities instead of being written off by government? This would force universities to consider...
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