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Where Taxpayers and Advisers Meet

Inside IR35 but payment to ltd company

Ali1000
Posts:3
Joined:Fri Nov 15, 2019 10:18 am
Inside IR35 but payment to ltd company

Postby Ali1000 » Fri Dec 06, 2019 10:28 am

Dear friends,

I will be working through my own limited company for a job inside IR35 and was wondering how I can be paid to my ltd company as after deducting the taxes the practice is that usually the remaining amount is to be transferred to a private bank account by the companies. However, since I will also be aiming to work on other contracts time to time my preference is to be paid to my business account.

Thank you,

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Inside IR35 but payment to ltd company

Postby robbob » Fri Dec 06, 2019 11:11 am

I will be working through my own limited company for a job inside IR35 and was wondering how I can be paid to my ltd company as after deducting the taxes the practice is that usually the remaining amount is to be transferred to a private bank account by the companies.
I would have expected exactly the opposite - if you invoice via your limited company i would expect all your customer to pay funds into the limited company bank account only (unless they didn't realise or check if you only provided your personal bank details)

Ali1000
Posts:3
Joined:Fri Nov 15, 2019 10:18 am

Re: Inside IR35 but payment to ltd company

Postby Ali1000 » Fri Dec 06, 2019 6:03 pm

Me also, but the remaining amount is free of all taxes and that is why the inclination is to pay to the personal bank accounts. That is what I am hearing at least from the agencies and umbrella companies. It will be my first time....

Has anybody worked inside IR35 through their limited companies? Could you advise?
I will be working through my own limited company for a job inside IR35 and was wondering how I can be paid to my ltd company as after deducting the taxes the practice is that usually the remaining amount is to be transferred to a private bank account by the companies.
I would have expected exactly the opposite - if you invoice via your limited company i would expect all your customer to pay funds into the limited company bank account only (unless they didn't realise or check if you only provided your personal bank details)


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