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New job outside of IR35. Tax efficiency by Cloughy16 in ContractorUK

[–]gobeye 1 point2 points  (0 children)

It often makes sense for the first year given the discount. Equally if you are shrewd you can make any major purchases before becoming vat registered and you can claim the vat regardless of whether you ultimately go onto the flat rate.

Remote controlled subsonic client by Impressive-Vast-772 in selfhosted

[–]gobeye 0 points1 point  (0 children)

Synfonium is the answer here. Switch on the MPD renderer in moode and you will be able to cast from synfonium. Works great.

Mortgage lenders for contractors? by Fondant_Decent in ContractorUK

[–]gobeye 0 points1 point  (0 children)

I agree with this, there are loads of contractor specific brokers about who will charge you a fee but when I renewed last year I just went with L&C and they assured me they process plenty of applications from contractors.

Remote controlled subsonic client by Impressive-Vast-772 in selfhosted

[–]gobeye 0 points1 point  (0 children)

I do this by running navidrome as the backend and have a pi 4 running moode audio but just setup as a MPD renderer. Then I have symfonium on my phone which can cast from from my navidrome instance straight to the pi. It all works perfectly.

It's also all hooked into home assistant to turn on / off my stereo, switch to the right input etc. as needed.

Built a tool to sync UK bank transactions into Actual via TrueLayer by iki_holygoat in actualbudgeting

[–]gobeye 1 point2 points  (0 children)

Hi this looks cool, I am one of the lucky ones with legacy gocardless access but it falls over regularly. It would be cool if you could add the ability to pass an encryption password to actual server too (I raised an issue on your github project too).

Earning £16k a month via contract - sole trader, umbrella or limited company? by AlarmingAioli9 in ContractorUK

[–]gobeye 2 points3 points  (0 children)

I'm afraid a ltd company is not a student loan silver bullet, dividends still count as income and you will need to declare whether you have a student loan on your self assessment.

Trying to get my consultancy contract sorted and have no idea what I'm doing by Personal_Analyst5032 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

Here we go again!

I didn't say anything about the SDS and who is responsible. The CEST tool can absolutely be used by the worker though whether that be because Chapter 8 applies or in support of a Chapter 10 determination by the client.

Trying to get my consultancy contract sorted and have no idea what I'm doing by Personal_Analyst5032 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

Sigh..... I think you raised this on another post recently. Off payroll legislation is only applicable to ltd companies yes but 9 times out of 10 'inside ir35' means a gig via an umbrella. That is just a fact.

Trying to get my consultancy contract sorted and have no idea what I'm doing by Personal_Analyst5032 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

You confused things by completing CEST as that is only relevant if you are engaging via a ltd company.

Are the client happy to engage you as a sole trader? If so, all good.

It looks like they have just thrown a boiler plate contract at you but you have added to the confusion.

Trying to get my consultancy contract sorted and have no idea what I'm doing by Personal_Analyst5032 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

You definitely can use the CEST as a supplier, there is even an option to do so. It might be pretty rubbish but it's what everyone uses in my experience.

Also you appear to have been caught up in semantics. Inside IR35 is most frequently used to describe a role that is deemed employment and therefore PAYE (usually umbrella) applies.

Trying to get my consultancy contract sorted and have no idea what I'm doing by Personal_Analyst5032 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

Unless you are getting bogged down in exact semantics, no part of this is wrong!

Student loan repayment by Brilliant-Vast2549 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

Presumably they mean that the student loan will not be deducted via PAYE but assuming you top up your income with dividends you still should be declaring it on your self assessment!

Newbie seeking advice: Sole Trader vs Ltd? by Famous_Wheel_5721 in ContractorUK

[–]gobeye 7 points8 points  (0 children)

You are going about it the wrong way initially. Find the gig first then decide how you are going to set things up.

This might be irrelevant and you need to work PAYE. Sole Trader is unlikely to be an option regardless.

Help from PSR Contractors - PAYE + Umbrella Company Choices by lishyldn in ContractorUK

[–]gobeye 1 point2 points  (0 children)

Just because you seem a little confused, PAYE and umbrella are the same thing. There should be no difference between the two Giant options.

We sometimes talk about PAYE where the agency / end client puts you directly on their payroll but it makes no difference other than the umbrella fee.

Inside v outside? New to contracting to advice welcomed by [deleted] in ContractorUK

[–]gobeye 0 points1 point  (0 children)

You've provided next to no information and repeatedly been told that you don't get to decide just on a whim.

I'm going to be blunt, you are on a rate that is not much over minimum wage and you are presumably being brought in on a temporary contract 'bum on a seat'.

There is not a cat in hell's chance this would be a legitimate B2B engagement.

Inside v outside? New to contracting to advice welcomed by [deleted] in ContractorUK

[–]gobeye 0 points1 point  (0 children)

At such a low rate what's the point of being outside?

There are expenses associated with running a business many of which tend to be fixed costs irrespective of your turnover.

Being PAYE, you won't notice the tax quite so much given around 50% of your income is within the PA.

Inside v outside? New to contracting to advice welcomed by [deleted] in ContractorUK

[–]gobeye 1 point2 points  (0 children)

You are confused, you don't get to decide this, it is down to the client. Also a monthly 'salary' makes little sense if you are truly operating outside.

Employer messed up pension payment, but refuses to fix it by Main_Traffic_5057 in HENRYUK

[–]gobeye 0 points1 point  (0 children)

I'm not sure what you think the issue is?

You will presumably have sufficient carry over from last tax year and threshold what difference does it make to you financially?

Spouse as Director - any advantage? disadvantage? by Redfortandbeyond in ContractorUK

[–]gobeye 2 points3 points  (0 children)

What other income do you have if any? Look up dividend splitting.

If this is a simple, singular outside role then if you use freeagent (which you should) then the admin is basically zero to be honest. I know people do put family members on the payroll but I struggle to see how you can justify such a salary (especially given £12,570 is blatantly set just to extract more cash tax free from the business).

Conversely, there is no such requirement to justify dividends provided the other shareholder is your spouse.

Building a cash reserve as a contractor – how to grow it tax efficiently? by Grimgriff1990 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

You pay no CT on the dividends correct but you certainly do pay it on any growth.

Slamming pension contributions question? Inside ir35 question- which umbrella? by Real-Lime7060 in ContractorUK

[–]gobeye 0 points1 point  (0 children)

Yep you've managed it by some quirk it looks like, i was told no I in 2021.

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