Info For Contractors Archives | Page 3 of 3 | Crystal Choice

Umbrella
Limited
About Us
Contact us
Blog

Umbrella
Limited
About Us
Contact us
Blog

Home » Info For Contractors » Page 3

Working Hours & What it Means For You

New dividend tax rules will cost contractors

Load More

Crystal Choice
Redfern House, 105 Ashley Road
St Albans AL1 5GD
Crystal Choice is a trading name for Design & Direction Limited. No. 10708973

Email: info@crystalchoice.co.uk

Web: www.crystalchoice.co.uk

Web: www.pocketaccounts.co.uk

Web: www.wecomparebrokers.com

Copyright © 2016 All rights reserved

Refer a Friend
Terms & Conditions
Privacy Policy
Corporate Responsibilities
GDPR

Call Back Request
Name*
First Last
Mobile number*
Email address*
Call back day*
Call back time*
Messages

Assumptions

Based on a contractor working 37.5 hours per week.
Full employee personal tax allowance of £11,000 per year (tax code 1100L).
Contractor has no additional income during the tax year.
Subsistence based on the HMRC’s benchmark scale rates model.
Annual business mileage calculated at 45p/mile for the first 10,000 miles and at 25p/mile thereafter.
Expenses calculated between £3.16 and £355 and is restricted by allowable expenses and expenses reasonably incurred by an employee working and staying away from home.
Weekly calculation based on 52 weeks per full tax year.
Monthly calculation based on 12 months per full tax year.
All Tax, NIC’s and employers NIC’s based on 16/17 tax year.

Additional assumptions for Crystal calculation

SDC (Supervision, Direction or Control) does not apply during any contract assignment throughout the tax year.
All legitimate business expenses incurred during each assignment will be paid as part of your regular Crystal payment package. Any incurred expenses over the pre-agreed amount can be received as a tax refund from HMRC after the tax year-end on 5th April.
All Crystal payments include holiday pay.
All Crystal payments do not include pension contributions.

Additional assumptions for Pocked Accounts calculation

All assignments fall outside the scope of IR35.
Director’s wage of £8,060 per year.
Pocket Accounts Premium package is used for the purpose of this calculation.
Only one owner and director is involved in the company.

Please note, you may be eligible for the HMRC’s flat rate VAT scheme. Our consultants would be happy to discuss this with you.