JonoMarshall

Most recent activity

• OT Huge Holocaust abstract oil on board by Roland De Cleer (b 1952) "Een Van de 6 Miljionen "

  in Components, clothing and miscellany • 2 weeks, 6 days

  

  An oil that's 14400 sq cm for £200 is ~1.4p per sq cm.

  Cheap. You can barely buy a large blank canvas and paint for that.

• The Freelance Thread (Contractor, IR35)

  in Miscellaneous and Meaningless • 1 month, 2 weeks

  

  That 'Phew!' moment when you walk away from a disastrous idea/investment with your house intact?

• The Freelance Thread (Contractor, IR35)

  in Miscellaneous and Meaningless • 1 month, 2 weeks

  

  Your 'actual' income tax as a LTD company and as an individual should be about the same (ignoring business costs and VAT refunds) unless you're doing something dodgy...

  The perks of LTD are the introduction of business costs/equipment (= more income allowance for you), much less risk as an individual, improved credibility (bizarrely), ease of employing others, ease of finance, potential to sell your business, Int'l billing and the ability to decrease/increase your income year-on-year.

• The Freelance Thread (Contractor, IR35)

  in Miscellaneous and Meaningless • 1 month, 2 weeks

  

  No and in hindsight I should've made a claim once, but forgot to use it (only 1 day, but still).

• The Freelance Thread (Contractor, IR35)

  in Miscellaneous and Meaningless • 1 month, 2 weeks

  

  I used to have it, then I started working in Sweden/France and I discovered I was no longer covered via the LTD company in the UK, so I cancelled it all.

• The Freelance Thread (Contractor, IR35)

  in Miscellaneous and Meaningless • 1 month, 2 weeks

  

  Some other things to consider:
  The flat rate VAT scheme can be an ~8% increase on your income (depending on the particulars).
  You can use business expenses for consumables/accountant/equipment/office/­travel/hotels/etc.
  You personal liability will be protected in the event your LTD company gets into trouble.

• The Freelance Thread (Contractor, IR35)

  in Miscellaneous and Meaningless • 1 month, 2 weeks

  

  Dividend tax doesn't equate to income tax. You pay the corporation tax, then let's say the personal allowance has been used up by taking a gross salary of £11,000. And let's say the rest of your income is dividends. The next tax band to consider is the basic rate tax band from £0 to £32,000. Dividends falling within this band are taxed at 7.5%. But the first £5,000 within that band are not taxed at all, due to the Dividend Tax Allowance (DTA) of £5,000 - so only £27,000 of the £32,000 is taxed at 7.5% (£2,025).

  Any dividends income falling in the higher rate band (currently from £32,001 to £150,000) then attracts the 32.5% higher rate of tax. Then any dividends in excess of £150,000 are subject to a rate of 38.1%. Dividends do not attract employer NICs, so you may decide to pay yourself entirely in dividends instead. Although an ~£11k salary can provide some flexibility at low cost.

  Actually, sorry, the DTA has been reduced to only £2k now and my tax bands above are outdated. Do your calculations for the new tax year here:
  https://www.itcontracting.com/calculator­s/dividend-tax-calculator-2018-19/

• Car appreciation... the aesthetics, the engineering, etc

  in Miscellaneous and Meaningless • 1 month, 2 weeks

  

  Dammit: They didn't strap the wheels down?!

• Car appreciation... the aesthetics, the engineering, etc

  in Miscellaneous and Meaningless • 1 month, 3 weeks

  

  Thoughts on Polestar 2?

• Black Rainbow Project needs your help!

  in Bikes & Bits • 2 months, 1 week

  

  As it is now it's a charity donation page to a business, which just seems weird to me.

  This. Social norms and market norms shouldn't be mixed.