Member Since: 1st Nov 2000
12th Mar 2021
Your experience is somewhat at odds with mine.
My wife and I are aged 71 and 70. We received a phone call nearly 5 weeks ago from our GP's surgery for a vaccination appointment two days later on a Sunday afternoon at the local theatre.
We were directed to a parking area, greeted outside and immediately directed inside where we were asked our details. We were then directed to the main hall, sat for 90 seconds in chairs that had just been wiped then directed to a medic who vaccinated us with the Astra-Zeneca vaccine. It was all very smooth and efficient. I didn't even feel the jab.
For the next three days we each had a slightly sore arm around the vaccination area but that was all.
Now awaiting the second dose.
22nd Nov 2019
I part quote Jean-Baptiste Colbert "The art of taxation consists in so plucking the goose as to procure the largest quantity of feathers with the least possible amount of hissing."
Many people asked about NI have no idea about amounts they are paying but have some vague notion of it paying for the NHS.
Most people little idea about the tax they pay.
So, the politicians have very successfully confused the majority with just how big a shovel is pushed into their pay packet.
2nd Oct 2019
Nearly but not quite.
Under IR35, until recently there was a 5% of turnover deduction for expenses of running the company (not really enough in my opinion) plus a full deduction for any pension payments and any employee expenses (e.g. travel and accommodation). The remainder is classed as the sum of salary plus employers NI. An iterative calculation is then needed to calculate the employers' NI plus salary from which income tax plus employees' NI is deducted. So the contractor is liable for income tax plus a total of 25.8% NI reducing to 15.8% as salary is increased. Any corporation tax paid is deducted from assessments. Interest on monies owed to HMRC is also payable and liable to be substantive.
The new IR35 rules do away with the 5% deduction and who knows how pension is dealt with as there will be no money in the Ltd Co available for this. Nor is there any ability to retain funds to pay liability insurances costs or to enable continuity of salary when no work is available.
Under the latest IR35 rules no expenses are allowable and also, if an umbrella company is used, the contractor is likely to be liable for the Apprenticeship Levy.
21st Sep 2019
"With it being a Ltd company, any profit after payroll and other tax deductible expenditure would be taxed at corporation rates - will they get that back as an offset?"
"The BBC may of benefited from paying no PAYE/NIC contributions, however they also had the negatives of hiring a contractor."
The BBC gained from being able to hire from the best in the market whilst having no employer obligations such as final-salary pension, sick pay, HR costs and, of course, redundancy pay.
23rd Apr 2019
Isn't there a timing problem where one must appeal to an ET for a status appeal within 3 months but IR35 cases can start 6 years later i.e. out of time for an ET.
8th Jul 2016
I suspect that shareholders in companies such as Arcadia would love 0% CT their company. Those domiciled in Monaco would also pay no tax so it would be win-win for that arrangement. Perhaps not so great for the UK tax position.
6th Apr 2016
we could ALL pay less tax
I think that it is naive to believe that if the Government received all tax legally due then we could ALL pay less tax.
I believe that Governments have an insatiable appetite for expenditure.