I want to try and do the whole thing myself, it will be fairly simple situation i.e. monthly invoice, some expenses, 1 (me) employee on low salary, 2 directors me and partner) (60/40) dividends, paid monthly. I have sage accounting software. Just need a book, i will also be VAT registered.
That "monthly invoice" sounds ominous. Your first "read" may be to Google on IR35.
"Troy Steadman" wrote
Don't forget, though, that "monthly invoice" does NOT imply "caught by IR35"...
I know all about IR35, my contract is outside and has f*ck all to do with this. Next...
I don't think there will be a next given your attitude. Looks like you are on your own!
"Monthly invoice" suggests one customer and regular invoicing, "(me) employee" suggests one employee.
How many "badges of trade" so far Tim, IR35 or no IR35?
So theres no books?
IR35 is not an issue, my 2 concurrent contracts are written to cater for it and I have PCG membership which includes insurance.
"Troy Steadman" wrote
Yes (but that doesn't imply that IR35 applies)...
"Troy Steadman" wrote
Again, yes -- but, again, that doesn't imply that IR35 applies!
"Troy Steadman" wrote
My "Troy-speak" translator is failing me here. What did you mean?
The book would be too big. You have everything you need at your fingertips.
Luckily my "Repeat to Tim" echo machine has not yet run out of echo.
You cannot decide for yourself whether you are working through your "one man band" limited company, any more than you can decide to be self employed.
If you turn up:
1) Yourself... 2) ...at an arranged time... 3) ...to be paid monthly... 4) ...in equal tranches... 5) ...without risking your own capital...then you are an employee. Your employer is responsible for deducing income tax and NI, and if you (by which I mean he) choose to further deduct NI and Corporation Tax where none is due, that is up to you...erm...him.
"Troy Steadman" wrote
The OP may have said (1) & (3), but didn't mention (2), (4) or (5).
Anyway, it's the *contract* that counts (you need to determine whether the contract is one "of service" or one "for services").
Even if all your "badges" above applied, it may still not be employment (or caught by IR35), for instance because the contract might allow you to send along someone else instead of yourself....
Ir35 is optional in my view, people who pay at are too lazy/stupid to get themselves outside it, it can be done using a contract reviewing company who specialize in Ir35, also joining the PCG covers you for any investigation and having company website/stationery etc. Only 3 PCG members out of thousands have been found to be avoiding tax this way and at most they pay is a percentage of the tax they never paid on that contract.
There is nothing wrong with his attitude imo. He asked a simple question and got an argument in return. Distinctly unhelpful.
op could consider using the Amazon rankings to get an idea - /
Daytona
Troy was trying to help him yet the OP acted very unpleasant and dismissive. You may approve of how he acted but I don't want to help people like that.
I consider it only as unpleasant as an unhelpful reply. If he has taken action to cover IR35 then it was quite reasonable to be dismissive.
Daytona
You don't understand the difference between:
"Thanks, but I have had the IR35 issues considered and resolved" and,
"I know all about IR35, my contract is outside and has f*ck all to do with this. Next..."?
Fair enough !
Daytona
Thanks everyone for the replies, Sorry I was snappy with original one I had a bad day.
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.