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Penny Outskirts
Joined: 18 Sep 2005
Posts: 23385
Location: Planet, not on the....
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Treacodactyl
Downsizer Moderator
Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism
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Penny Outskirts
Joined: 18 Sep 2005
Posts: 23385
Location: Planet, not on the....
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dpack
Joined: 02 Jul 2005
Posts: 46211
Location: yes
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marigold
Joined: 02 Sep 2005
Posts: 12458
Location: West Sussex
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 Posted: Fri Nov 16, 12 9:32 pm Post subject: |
 
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| dpack wrote: |
with only one employer i would go for paye |
This. You need to earn A LOT more to make it worth the hassle of being self-employed or running a limited company if you are basically working for one employer. Either you have to spend unpaid hours doing paperwork or pay someone else to do it (most likely both). And if you turn over more than �77k you'll have to do VAT as well. Factor all that into your calculations. Also check what the deal is about claiming expenses, using a company vehicle/mobile/computer etc if you aren't on the payroll.
What's wrong with staying where you are, with all the benefits you get there?
To replace what you've got now you may need to buy a pension, life insurance (your current company probably provides some nice death in service cover), professional indemnity insurance, personal health insurance, private medical insurance... As well as covering holidays, bank holidays, tax, NICs etc and paying yourself a salary. |
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vegplot
Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd
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| Posted: Fri Nov 16, 12 9:53 pm Post subject: |
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| marigold wrote: |
| dpack wrote: |
with only one employer i would go for paye |
This. You need to earn A LOT more to make it worth the hassle of being self-employed or running a limited company if you are basically working for one employer. Either you have to spend unpaid hours doing paperwork or pay someone else to do it (most likely both). And if you turn over more than �77k you'll have to do VAT as well. Factor all that into your calculations. Also check what the deal is about claiming expenses, using a company vehicle/mobile/computer etc if you aren't on the payroll.
What's wrong with staying where you are, with all the benefits you get there?
To replace what you've got now you may need to buy a pension, life insurance (your current company probably provides some nice death in service cover), professional indemnity insurance, personal health insurance, private medical insurance... As well as covering holidays, bank holidays, tax, NICs etc and paying yourself a salary. |
Now I know where I'm going wrong. |
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Nick
Joined: 02 Nov 2004
Posts: 34535
Location: Hereford
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marigold
Joined: 02 Sep 2005
Posts: 12458
Location: West Sussex
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| Posted: Fri Nov 16, 12 10:40 pm Post subject: |
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| vegplot wrote: |
| marigold wrote: |
| dpack wrote: |
with only one employer i would go for paye |
This. You need to earn A LOT more to make it worth the hassle of being self-employed or running a limited company if you are basically working for one employer. Either you have to spend unpaid hours doing paperwork or pay someone else to do it (most likely both). And if you turn over more than �77k you'll have to do VAT as well. Factor all that into your calculations. Also check what the deal is about claiming expenses, using a company vehicle/mobile/computer etc if you aren't on the payroll.
What's wrong with staying where you are, with all the benefits you get there?
To replace what you've got now you may need to buy a pension, life insurance (your current company probably provides some nice death in service cover), professional indemnity insurance, personal health insurance, private medical insurance... As well as covering holidays, bank holidays, tax, NICs etc and paying yourself a salary. |
Now I know where I'm going wrong. |
That's just the money side - quality of life stuff is less easy to quantify. Contentment is worth a lot, happiness is worth more and your health is priceless  . |
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Nick
Joined: 02 Nov 2004
Posts: 34535
Location: Hereford
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