backtoparents Posted February 13, 2006 Share Posted February 13, 2006 Anybody know how these work? Might have to do some contract work in the near future, and have no idea where to start. I know there are a fair few IT people on here who've had to do similar. Any pointers where I should look for advice? btp Link to comment Share on other sites More sharing options...
Justice Posted February 13, 2006 Share Posted February 13, 2006 Some work by allowing you to claim £78 per day for accommodation, £10 for food and 40p per mile for petrol and they don’t need any recipes so half your wages become tax free. Others pay you half your wages into an offshore bank account. Was you to try this as a sole trader then the IR would soon be on to you so I can only assume that these agents come to special deals with the tax man. Properity4 is a good agent if your looking. Do your duty and starve the devil of food, or in this case your money that they claim is your taxes. Link to comment Share on other sites More sharing options...
aclwalker Posted February 13, 2006 Share Posted February 13, 2006 Some work by allowing you to claim £78 per day for accommodation, £10 for food and 40p per mile for petrol and they don’t need any recipes so half your wages become tax free. Others pay you half your wages into an offshore bank account. Was you to try this as a sole trader then the IR would soon be on to you so I can only assume that these agents come to special deals with the tax man. Properity4 is a good agent if your looking. Do your duty and starve the devil of food, or in this case your money that they claim is your taxes. LOL. Did you mean "receipts"? Link to comment Share on other sites More sharing options...
Mr Blek Posted February 13, 2006 Share Posted February 13, 2006 Anybody know how these work?Might have to do some contract work in the near future, and have no idea where to start. I know there are a fair few IT people on here who've had to do similar. Any pointers where I should look for advice? btp If you want a simple solution, giantgroup.co.uk is the one to go for. Be warned that there is extra tax to pay on the dividends received if you earn over 32k The best is to have your own ltd company, but then you need to make sure your contract is IR35 free as well as a host of other matters. This site has tons of information: http://www.contractoruk.com/ Link to comment Share on other sites More sharing options...
backtoparents Posted February 13, 2006 Author Share Posted February 13, 2006 Cheers Chaps, Thanks for the links and info. I'll have a trawl through options tonight. btp Link to comment Share on other sites More sharing options...
laurejon Posted February 18, 2006 Share Posted February 18, 2006 I work for a large corp Global. The contractors we have all use a company www.pro-corporate-online.co.uk They seem to pay on time, and do everything for you for around 80 quid a month, the fee of which is tax deductable. From what I have heard, you must take out insurance for IR35 in case you ever get rumbled and put under investigation from the Revenue. Even if you do have nothing to hide, the costs to defend yourself would bankrupt you. Pro Corporate offer this insurance also in the package. Let us know who you chose, it will be interesting to compare. Link to comment Share on other sites More sharing options...
messychopper Posted October 21, 2007 Share Posted October 21, 2007 I work for a large corp Global.The contractors we have all use a company www.pro-corporate-online.co.uk They seem to pay on time, and do everything for you for around 80 quid a month, the fee of which is tax deductable. From what I have heard, you must take out insurance for IR35 in case you ever get rumbled and put under investigation from the Revenue. Even if you do have nothing to hide, the costs to defend yourself would bankrupt you. Pro Corporate offer this insurance also in the package. Let us know who you chose, it will be interesting to compare. Anyone know if we come back to the UK and contract through a US corporation will we be subject to IR35? I don't care what currency is deposited in our offsore account just so long as I dont end up paying 60% in UK tax, corporation tax in the US is what we really want to pay. Background = Cisco / Juniper Chopper Link to comment Share on other sites More sharing options...
Thunderbird 900 Posted October 21, 2007 Share Posted October 21, 2007 Umbrella Companies? The expert on umbrellas is surely the one and only ... BRUNO! Link to comment Share on other sites More sharing options...
gilf Posted October 22, 2007 Share Posted October 22, 2007 Anybody know how these work?Might have to do some contract work in the near future, and have no idea where to start. I know there are a fair few IT people on here who've had to do similar. Any pointers where I should look for advice? btp I did a short term (6 month) contract a few years ago and I used Giant as mentioned by Mr Blek. You are effectively a director of one of their companies and you get paid most of your wages as a dividend. The company you work for pays the Umbrella company who then charge an admin fee for dealing with your tax NI etc. You can claim reasonable expenses which are then used again to offset your tax. However as others have said you and only you are responsible for making sure the contract is IR35 complient, with a short term contract thats not normally a problem. It worked for me and didn't/haven't had any complications from the tax man. Link to comment Share on other sites More sharing options...
Solvent Celt Posted October 22, 2007 Share Posted October 22, 2007 Umbrella Companies?The expert on umbrellas is surely the one and only ... BRUNO! Saint preserve us! Noooooo! The title of the thread had me thinking of zombies straight way! I'd recommend the new film... in attempting to "domesticate" the zombies Umbrella Corp created "fast zombies" aarrggghhh! Link to comment Share on other sites More sharing options...
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