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enough
for a claim? Posted 6-1-2001 12:56 Sit
back and let ESS organise your refund Posted 6-4-2001 01:52 Hi Karen, don't forget to mention UKDiscovered when you phone ESS and qualify for a 5% discount too! cheers, the UKD team how
much to get back tax refund? Posted 5-10-2001 14:58 Hi Jos! Well, the percentage you're talking about is not unusual in the inner city area of London - and considering you're heading off in the not so distant future, it might be wise to stick with a company that can chase up your claim if it hasn't arrived back before you leave the UK. However we have some good news - we can put you on to a reputable company that will do PAYE returns for 12.5% - quite a savings if your refund due is around the average of £200 - £300. If you'd like there contact details, email us direct on taxationadvice@ukdiscovered.com! Best Regards, the UKD team Dear Jos, Free phone 0845 3070707 and ask to talk to one of the UK tax team. The company is called ESS and it organises tax refunds for over 30,000 working travellers having worked in UK, Ireland, Australia, Holland, USA, Germany, Japan. The fee is 12.5% but you get a 5% discount on commission thanks to UK discovered. Call them now! National
Insurance? Posted 4-25-2001 10:48 Hi Sally! We've got a host of info on National Insurance that you can find at: http://www.ukdiscovered.com/things_to_know/nationalinsurance.html in our 'Things to Know' section - funnily enough it's our feature of the week! Basically everyone has to pay this - which goes towards the various benefit schemes here in the UK, such as housing or unemployment benefits. Unfortunately, if you are on a temporary visa you are unable to claim any of these benefits for yourself. Best to think of it as entitling you to stay in the UK. To read more, check out the link above! Hope this helps, the UKD team Working
through an offshore company Posted 6-9-2001 13:13 Hi Corran, You're looking at involving yourself in some murky waters here. Have you read our info on offshore companies within out 'finding work' section? How it works is this. For a fee, Offshore companies do not take care of any of the worker's tax obigations - it is 'assumed' that the worker will comply with UK tax law, and organise and pay all taxes due themselves. Obviously many don't do this, and in doing so don't pay any taxes at all. People have used these companies in the past to save money on tax - in two words - tax avoidance, which is illegal and taken with a VERY dim view by the Inland Revenue. Imagine the repercussions in your home country if you were caught for not paying tax - the situation is the same in the UK. The risk many people take is that they bet on the UK IRD to never catch up with them. Best case scenario if you're caught out? You will have to pay all missed taxes, plus interest. Worst case? The above, and they could press tax fraud charges and take you to court. Considering the UK IRD now has offices based in South Africa, Australia and New Zealand, with the specific goal of finding these people -- matched with the recent news of the IRD restructure that has freed up many more tax auditors to work solely on potential tax fraud cases -- and things start looking a little less rosy for those using offshore companies. As a case in point, the IRD are already investigating the key island groups many contractors in the UK are currently using. Is saving a few pounds worth the risk of getting a knock on your door years down the track? If you're a genuine contractor you would be better served to look at the Limited Company scenario. Hope this helps, and feel free to contact us again if you have any further questions. the UKD team Working
in the UK Posted 6-10-2001 13:20 Hi Lisa, thanks for your posting. In regards to your queries... Not all agencies require contractors to operate through their own limited companies - in fact, since the introduction of IR35, many agencies prefer contractors to contract direct, rather than operate through their own limited companies. Our advice would be to test the waters when you arrive. As to whether your husband would be IR35 compliant by working through his own limited company, the easy test is this: If he is relying on an agency to find him his contracts, and he is the sole contractor working out of his limited company - then it would be difficult to prove to the UK IRD that he is IR35 compliant. Most contractors previously worked through limited companies as a means to better plan their taxes - I wouldn't concern yourself too much about this issue however. There are many reputable companies in London that can advise him on his best options once he arrives. If you do both decide to open a limited company however, this is easily done via many companies in the city, and will cost you anywhere from £20 to £100, depending on the range of services on offer. (ie: many companies offer a 'package' of setting up your company, doing your books etc.) There are responsibilities you need to be aware of if persuing this route however, that you will need to be aware of, feel free to get in touch again if you would like more information - or again, you can access this information easily from the 'set up' agencies on your arrival. Hope this helps! the UKD team Co
or PAYE? Posted 5-11-2001 11:04 Hi Jacko
Your friends are right in that operating your own limited company will
mean more paperwork but the news isn't all bad. There are plenty of
reputable agencies in London that can help as much or as little with
this as you like - depending on how tax savvy you are; and there fees
can be quite reasonable - tho it pays to shop around. Firstly though
you need to be aware of the IR35 contractors law - and whether it applies
to your circumstances as this can impact on the amount of tax and National
Insurance contributions you have to pay. To check out the ins and outs
on what IR35 is all about, click on the link below! What
are my responsibilities as a Company Director? Posted 6-7-2001 14:59
Hi Annie, you can check out our general faq on IR35 at: http://www.ukdiscovered.com/tax/taxfaq.html which should answer most of your questions in that regard. Responsibilities as a Director? Other than having to submit an annual return, if you are the sole person in the company (other than a company secretary which is mandatory) then you will be responsible for keeping and submitting the company accounts, and ensure all tax payments and NI contributions are kept up to date. Unless you have experience in the field of corporate tax we would recommend you get an accountant to look after these details for you - there are many agencies around the UK that offer this service at various prices, so shop around. We hope to have someone to recommend for this very purpose within our UKD Member Products and Services directory, so check back with us soon! Regards, the UKD team Ltd
Co's the Go? Posted 5-2-2001 11:12 Hi Doug, A lot of contractors used to work through limited companies as a way of better tax management and savings, and so they could miss out on the NI payment obligations. IR35 is a new law passed by the Inland Revenue to ascertain whether those contractors are legitimate contractors or simply trying to avoid their tax obligations. We have a list of basic IR35 FAQ's that should help to clarify things for you and give you an idea as to whether you would qualify to work under this scheme or not. You can access this information at: http://www.ukdiscovered.com/tax/taxfaq.html feel free to post any more questions you may have - or let us know whether you'd like one of are taxation consultants to give you a call to answer your questions more directly on a confidentail and one to one basis. UKD Moderator |
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