Fuck fuck fuck

[pyro]

Gone back Contracting and working in york, doing long travel yadda yadda yadda, but at around £700 quid a week doing ok.


Until... Tax - NI - ENI(forgot about that..) and other ****.

£388

Its not fucking worth working any more.

Time to start looking for a permanent job again.

What has the government got against contractors?
__________________

[Kylie]

Gone back Contracting and working in york, doing long travel yadda yadda yadda, but at around £700 quid a week doing ok.


Until... Tax - NI - ENI(forgot about that..) and other ****.

£388

Its not fucking worth working any more.

Time to start looking for a permanent job again.

What has the government got against contractors?
__________________
They've been trying to stop people doing it for a couple of years now, making it harder and harder and making it more costly, and more difficult for the employers to actually use contractors, they want companies to have employees.

No idea why tho

[Hillbilly Deluxe]

apply for polish nationality,they've all got jobs :D

[Grav]

They've been trying to stop people doing it for a couple of years now, making it harder and harder and making it more costly, and more difficult for the employers to actually use contractors, they want companies to have employees.

No idea why tho

Labour are supposedly the party of the working class yet they have put more bloody obstacles in the way than the other lot ever have.......

[pyro]

FTW, time to go back to my old ways.

I really have come to the end of my tether, I have tried to do the right thing and be a good boy.
When I was a 'naughty' boy I never had less than £300 in my pocket and paid my way, didnt owe anyone anything, now after 6years of being good, I'm skint and seem to be £20,000 in debt!!! How the fuck did that happen???

Time to go back to the 'fire' I think..

[Bosun]

right find slobs insurance and send him out on a canoe

[Bassman]

Have worked for myself for years.. and it is definately getting harder now.. loads of new rules all the bloody time.. the VAt is fecking horrendous.. then there is the ****e you have to go through to give someone a job..If you stay stricktly legit these days mate.. then you will go backwards.. Had the same problem as you.. loads of debt just trying to stay honest.. you gotta wonder if its worth it..

[John Hopkins]

Gone back Contracting and working in york, doing long travel yadda yadda yadda, but at around £700 quid a week doing ok.


Until... Tax - NI - ENI(forgot about that..) and other ****.

£388

Its not fucking worth working any more.

Time to start looking for a permanent job again.

What has the government got against contractors?
__________________

Calm down there is a way out of this...You've just got to find it...Ok national insurance is a voluntry payment if you are self enployed and you can opt to pay just the basic stamp, which will cut that bill in half or better...I don't know the details of your case but if you have got behind on the tax returns they try to frighten you...Get a calm clear frame of mind, and phone up the Inland revenue office...ask to speak to a tax assessor and then ask for an appointment....Find all your receipts and payments for this year up to present date, and put them all in date order, do the same all the way back to two years before the date they are charging you for...Total the receipts for each year, and the payments...keep the receipts for each year separate from the payments and take them in to the meeting...This will take a bit of time to total everything up but it is worth the effort...DO NOT LIE...the small room where the interview takes place is bugged...every word you say is recorded..Don't speak until you are spoken to and they will ask the purpose of the interview...this is for the recording, you reply I'm hoping to sort out my tax returns...They will then ask to see the details (receipts & Invoices) for the year in question....when they have sorted that out they will ask to see the next or current year..then they will say thats all ok now we just have to make an appointment for you to bring in the two years before that..and you can say 'Thats alright I've got them here'...and thats all there is to it...When you are sorting out the receipts pin any small till receipts to a piece of A4 paper with any dates written on the A4 sheet that way all the receipts are easy for the inspector to find without little bits falling out of the package...then sack your accountant and in future use Quicken software to do your books...Do it now..John

[Kylie]

Pyro if you have any accounting questions then you could always try my boss, she seems to like you (or your pyromaniac tendencies anyway) and she just happens to be a qualified accountant.

You may have to burn someone in return tho :D

[pyro]

Pyro if you have any accounting questions then you could always try my boss, she seems to like you (or your pyromaniac tendencies anyway) and she just happens to be a qualified accountant.

You may have to burn someone in return tho :D


Might have to return to my old trade ;) anyway, I do need some advice though.... once I calm down, sorry just drank a bottle of cheap red wine in 45 minutes and want to kill the bloke who keeps revving his engine outside...

[Suzukiron]

PM me....
Tell me what you do, n i maybe will be able to help you...
or i might know someone who can :D

I have myown ltd company, in the past composite company.....i know the score...its not a good situation i gotta admit, but there are always ways n means...

Later
Ron
(ffs my tax codes just gone to 764L!!!! n i only earn £105 a week directors pay!work it out yersel) ways n means.....
(bad bastard of old to.....)

[Kylie]

Might have to return to my old trade ;) anyway, I do need some advice though.... once I calm down, sorry just drank a bottle of cheap red wine in 45 minutes and want to kill the bloke who keeps revving his engine outside...
BURN HIM!!!!!!!!!!!!!!!!!!!!!

[kitkatman]

Might have to return to my old trade ;) anyway, I do need some advice though.... once I calm down, sorry just drank a bottle of cheap red wine in 45 minutes and want to kill the bloke who keeps revving his engine outside...
use the empty bottle as a molocov cocktail....they'd like that :D

[Yambabe]

(ffs my tax codes just gone to 764L!!!!

:confused: But that means you will pay LESS tax not more Ron, so I can't see why it would be a problem - standard code is 522L meaning you can earn £5220 pa before you start to pay tax, yours means you can earn £7640 so you're better off.........

Unless you meant 764K in which case you are truly fecked! :D

Pyro, how do you get paid/pay yourself at the moment? Drop me a PM, I might be able to offer you some advice.

I too have a fair bit of experience of the old composite and new PSC legislation, the pitfalls of IR35 and the various ways in which you can try not to give all your money to the chancellor, but from the point of view of administering them rather than working for them.

As a self-employed contractor who is working on a non-ltd basis (harder and harder to do these days) you shouldn't be seeing more than about 35% of your income tops going in tax and NI. If you're working through your own ltd that should drop to around 30%. With a bit of creative accounting you could get it to a fair bit less.

FWIW the main reason they clamped down on the contractor market was because of the huge revenue losses when the composite company providers realised the number of loopholes they could exploit. The main reason they want everyone to be employees is cos of the employers NI, they get an extra 12.8% of your wage off your employer each payday as well as what gets deducted from you don't forget. So if you can legitimately NOT be an employee then your employer saves a shedload of money (one reason why contractor rates have historically been significantly higher than permie ones)but the govt lose it.

As always, for hints and tips on the contractor market have a google for the contractorUk forum and go make friends with some of those guys. They are mostly IT (with some noteable exeptions) but some of them have been in the game for years and they really know their stuff. There are also a couple of really good accountants who post on there regularly. However, if you need a book-keeper with lots of experience of dealing with Ltd Co contractors I might know of one who charges reasonable rates! ;)

[Taff]

Might have to return to my old trade ;) anyway, I do need some advice though.... once I calm down, sorry just drank a bottle of cheap red wine in 45 minutes and want to kill the bloke who keeps revving his engine outside...
But The Mighty Clarksons's a twat cos he wants to kill the bikers who keep zooming past his house....?
How does that work then? :confused: :confused: :confused:

[Suzukiron]

Well i think i will keep my advise to myself....judging fae what Yam says.....I will bow to her al encompassing knowledge of everything...

but luckily i have it the good way...

764L means i can earn £7640 before tax.....now simple maths (gotta make it simple fer Yam, who obviously thinks im thick as a brick ...£105 per week, directors fees = £5460 / year......why the hell do you think i get £1500 min tax rebates a year.....But what do i know....
Seems where some ladies are concerned, nowt about nowt......

Hey ho, not gonna let it bother me today!

Later
Ron
(fossilsaurus! n proud)
:D ;) :eek:

[pyro]

But The Mighty Clarksons's a twat cos he wants to kill the bikers who keep zooming past his house....?
How does that work then? :confused: :confused: :confused:

I have never said that.

[Taff]

Didn't look whether you had or not to be honest, just saw an opportunity to pull the wire of the general populous over shouting and yorping about Clarkson not liking noisy power rangers, and you wanting to kill noisy engine revver man.
I agree with both actually.
Especially Clarkson.
In fact.
Only Clarkson, you should know better...

[Yambabe]

......why the hell do you think i get £1500 min tax rebates a year.....

Be interested to hear how you manage that Ron, seeing as with the code you are on you don't have any tax deducted from your wages and tax credit on dividends is not refundable? :confused:

PM me if you want, serious question as this is what I do for a living and I'm genuinely curious.

Oh and for the record I don't think you're thick, far from it. I think from your reply I may have misinterpreted what you were trying to say though, Pyro was talking about how much tax he had to pay and you mentioned your tax code like it was a bad thing which I pointed out it isn't. If that's the case I'm sorry. But at the same time in the circumstances you've described you shouldn't be seeing much of a benefit from it either.

[Suzukiron]

Jo...
Its only just changed in the past month..... :D
im guessing so that they dinnae have to give me any tax rebates....up til recently it was 5xxx summat.... hence the nice big rebates...last ones getting spent on the Buell....performance mods...
Happy Days
Ron
:D ;) :eek:

[Yambabe]

Lightbulb goes on - you have PM! :)

[frenchie]

sp how can i get a tax rebate on the weekly salary i pay meself cos my tax last year was a crippler?

fren
already Yammie client

[Yambabe]

By paying into an approved personal pension scheme I think. :)

For every £1 you invest in the scheme you only have to actually physically pay in 78p, the fundholder claims the other 22p directly from the govt. So if you contribute £1560 to the scheme the pension fund holder actually gets £2000 to invest on your behalf.

If you are a 40% taxpayer however you can claim additional relief for the extra 18% (40%-22%). So you pay in £1560, the fund gets £2000 and when you do your tax return you are entitled to claim a further £360 back as a refund.

Obviously those figures are muchly simplified but that's pretty much how it works. Pensions are a complicated thing and not something I know a huge amount about but if you don't already have one it's definitely worth speaking to an IFA about.