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date: 21 Apr 2007 05:08:36 -0700,
group: uk.jobs.contract
back
New IR35 Regs
As an IT contractor on hourly rate my managed services/umbrella cpy
have really hit me lately with extra fees and even asking us to pay
their "employers NIC". Does anyone know a noddy guide online to
avoiding the worst brunt of these new rules?
I have been to one accountant who wants £500 to set up my own ltd cpy,
How much of that is fees that would be incurred by anyone setting up a
ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
only £20 per week but is it a piece of cake I can do myself?
Downtrodden
date: 21 Apr 2007 05:08:36 -0700
author: unknown
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
Re: New IR35 Regs
Hello googlenospam!
21 Apr 07 12:08, you wrote to All:
g> As an IT contractor on hourly rate my managed services/umbrella cpy
g> have really hit me lately with extra fees and even asking us to pay
g> their "employers NIC". Does anyone know a noddy guide online to
g> avoiding the worst brunt of these new rules?
g> I have been to one accountant who wants 500 to set up my own ltd cpy,
g> How much of that is fees that would be incurred by anyone setting up a
g> ltd cpy? He wants 1000 pa if he runs everything for me. Now thats
g> only 20 per week but is it a piece of cake I can do myself?
You can buy an off the shelf company that has never traded for 50-100 via
most accountant and the internet.
Doing the paper work for the company i.e., accounts, passing accounts to IRS
and Companies House is relatively straight forward if you use some software to
help such as TAS Books or Sage 50 then pass output to word or Open Office to
produce final accounts. I have been doing this for the last seven years
having got hacked off with expensive accountants.
As I'm also VAT registered I do the accounts every three months (takes around
two hours) then the end of year processing to produce final accounts (takes
around 3 - 4 hours) and passing to word processor (under 1 hour).
Job done, unless you have a complex business.
Vince
date: Sat, 21 Apr 2007 17:08:43
author: Vince Coen
|
Re: New IR35 Regs
On 21 Apr, 13:08, "googlenos...@hotmail.co.uk"
wrote:
> As an IT contractor on hourly rate my managed services/umbrella cpy
> have really hit me lately with extra fees and even asking us to pay
> their "employers NIC". Does anyone know a noddy guide online to
> avoiding the worst brunt of these new rules?
> I have been to one accountant who wants £500 to set up my own ltd cpy,
> How much of that is fees that would be incurred by anyone setting up a
> ltd cpy? He wants £1000 pa if he runs everything for me. Now thats
> only £20 per week but is it a piece of cake I can do myself?
>
> Downtrodden
I too in a different sense have been hit badly by the Regulations.
I am a retired contract since tha last budget. I am 65.
I work away from home and had intended to work 3 days a week,
but I incur about £150 expenses before I earn a penny. My rate was
actually quite low, so having to find the expenses from earnings
made the whole thing unrealistic. I was offered to start up my own
company, but from previous experience I believe that I must
keep the company open for a year and offer certified accounts next
April. The admin cost would be abour £1600.
But I only really intended to work until about September this year.
I then thought....well, I don't really need the aggro...I'll just go
PAYE.
I got in touch with pensions people and tax people, and received an
NIC exemption Certificate because I am a 'fully paid up pensioner'.
The Useless Agency I work for then said...yes you can work PAYE
with us but we will take another £2 per hour for our trouble.
That meant I would pay all of my expenses for an even lower rate.
I then said to Useless Agency...Fuck Off.!...or words to that effect.
I am now retired.
Cheers...Rocky
date: 24 Apr 2007 03:04:59 -0700
author: unknown
|
Re: New IR35 Regs
Hello rockall!
24 Apr 07 10:04, you wrote to All:
r> I was offered to start up my own
r> company, but from previous experience I believe that I must
r> keep the company open for a year and offer certified accounts next
r> April. The admin cost would be abour 1600.
On your level of turnover you do not need to use a certified accountant. I
have been doing my own accounts for the last seven years.
Having produced full accounts for myself and the IRS, I create a abbreviated
set for Companies House and sent the account via the internet as a pdf file.
Takes me around half a day to do all the accounts.
Vince
date: Wed, 25 Apr 2007 17:50:29
author: Vince Coen
|
|
|
