Self-employed

[mondo_notion]

Mondo,
IR35 legislation made it very difficult for 1 man limited company to operate with a single client. For a while people were (allegedly) going through umbrella companies (paying corporation rather that income tax) but I believe that loophole is long closed.
Being limited company is a bit of a misnomer you end up spending money to save it buying unnecessary stuff just to claim the tax.
In your case it may work? IF the company is prepared to take you back on casually after your nomadic periods you could just work to a point where your company has money in it then off on your travels paying yourself pro-rata until the money is spent.
It's high risk as you are going to lose any benefits you may have had but if you think there's long term on/off possibilities I guess you might be prepared to risk it?
Whatever you decide do some research and get some professional advice you never know you might be one of the few that could gain from the Brexit fiasco?!

Cheers. So would I be classed as 'a company'? would I have to invoice my work every month instead of just handing a timesheet in? Looks like I'll have to speak to a professional about it and see where I stand.

Well done Chief on your future lottery win. Fling some of your winnings at the Dons and you might get a corner flag at one of the westhill training pitches named after you

Cheers fella. It's a big jackpot tonight so I'll definitely be splashing a bit on the dons. There will be a few conditions though main one being putting a stop to moving to out the city. I'll also be updating all the equipment on the AbMad Investigation Branch team. New walkie-talkies, store cards for greggs and the like.

[DonUnder]

[QUOTE=mondo_notion;39325214]Cheers. So would I be classed as 'a company'? would I have to invoice my work every month instead of just handing a timesheet in? Looks like I'll have to speak to a professional about it and see where I stand.

Been a while and the laws have probably changed but yes basically your company invoices the client company and you pay yourself. With a single client this is difficult since IR35 but they might be prepared to offer you shorter term contracts with breaks for your travels? You need to pay your own insurances etc so take all that into account but you should definitely seek advice as it was a while ago for me and things rarely get easier.

[donsdaft]

No need to become a company, far too complicated/ expensive as a start up.

But yes, you will have to invoice.

[DonUnder]

No need to become a company, far too complicated/ expensive as a start up.

But yes, you will have to invoice.

Guess it depends on the situation and nature of work. It is expensive and a bit of a pain but , in my case, i had to have liability insurance and the like which meant being a registered company.

[donsdaft]

Aye, every case is different, I never made enough money to warrant protecting my non existant assets by going limited liability.

I do have public liability ininsurance though, no problem getting that.

[DonUnder]

Aye, every case is different, I never made enough money to warrant protecting my non existant assets by going limited liability.

I do have public liability ininsurance though, no problem getting that.

Just as well!

I would imagine Mondos Cavity Insertion Narcotic Negotiable Export Services might carry a hefty premium

[donsdaft]

If I was him I probably wouldn’t mention that.

[mondo_notion]

Just as well!

I would imagine Mondos Cavity Insertion Narcotic Negotiable Export Services might carry a hefty premium

Those days are behind me

[krakowdon]

Can only say, get advice.

To develop the off topic line, if I won the Euromillions, I wouldn't buy Aberdeen. I'd buy Rangers

[mondo_notion]

Oh well I didn't win the jackpot which is a bit strange. Good news is it is a rollover so even more to win on Friday.