Income Tax & NI

Re: Income Tax & NI

Postby Veronica » Thu Mar 19, 2009 9:16 pm

I concur with everything said here from my experience of Self-Employment over 20 years (1979-1998).

I just wish I'd known then what I know now.

The advice of just asking your employer about becoming self-employed, under contract to them, is good. Point out they would no longer have to pay 2/3 of your NI contributions.

This is actually what was FORCED on all Milkmen about 20 years ago. They were made redundant (with a handshake) and told to apply as self-employed.

(Excellent Thread! Thanx for Posting it, Steven:)
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Re: Income Tax & NI

Postby fries&brimstone » Fri Mar 20, 2009 2:07 pm

Free wrote:My rebuttal to companies house came in two forms. Firstly by spending all available profits on investments such as stock, advertising, equipment etc thus showing zero profits for the year end. Then, by notice of discharge and request for clarification of who [MR MYSELF] actually was, legally speaking and how any tax could be due from a fiction known as that 'name'...I've not heard anything from either the tax or the VAT for over 3 years now.

Cheers for the info, Free!

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Re: Income Tax & NI

Postby wayland » Fri Mar 20, 2009 5:07 pm

hi peeps, sure is an interesting debate, i am relatively new to this and have often wondered how to approach my employer regarding this issue, surely your name, company ID and bank details is all they require to pay you and the NI number is for the fiction, do you have to go down the self employed route? And would it really bother the company if they didnt sort your tax and contributions?
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Re: Income Tax & NI

Postby Free » Fri Mar 20, 2009 5:24 pm

I'd guess it all depends on the company. Larger corporations do like to stick to 'the rules' it would appear, but for smaller companies perhaps it could be a good idea to educate the bosses. To empathise..bosses are generally so bust running round being busy on what they feel important, they tend not to have the time to sit down and think about how to make their lives easier. I've been there. It's not until we step back from the day to day, that we find the solutions. could be an idea to suggest that if the Boss were to pay everyone in full and let them take responsibility for their own tax etc...then pay all the company profits into their own salaries they could then rebutt all demands upon their own self tax and thus the entire company could operate in a tax free haven...

One boss I knew made all his employees directors. They were then paid the maximum salary allowed before tax and the rest was paid in dividends on their shares. From then on it was up to them to deal with their own taxes on the profits they made from the shares.

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Re: Income Tax & NI

Postby jonboy » Sun Mar 29, 2009 10:20 pm

Most large companies have many 'sub-contractors' and other self employed tradesmen on their premises, I used to work at Mercedes every day, but I was self employed. I was registered as self employed during this time (2006-2007). I became EMPLOYED again in 2008, so had my tax and NI paid for me. In Jan 2009 I was laid off, so decided to become self employed again, but NOT REGISTERED, and so far I have not heard a peep out of anyone. I know the time will come when they realise my NI number has not contributed anything for a while, but I am not that fiction, so the letter will most definately be returned to sender.
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