Accountants and tax

[gary]

Hi, I am hoping that some of you more experianced guys can help me out when it comes to the tax man. I am about to sign a contract with my current employer to go as a sub-contractor and effectivily going self employed. Currently i pay through the cis scheme, but my question is.... is it worth employing an accountant? What kinds tax breaks are there? Is VAT reclaimable or is it just easier and cheaper to get my head down work hard and let the it carry on as normal???
Cheers

 

[justlead1]

Hi. Gary, It is normal to pay tax when employed using the paye scheme. The cis relates to pay stoped wheb subcontracting within the construction industry. Thre has been a major effort by the revenue to stop labour only sub contractors. I would question the reasons behind the offer prior to signing up. You may well get free advise from an accountant or accounts forum. Good Luck

 

[REDSAW]

i could be wrong but,
i was told that you cannot sub to one contractor for more than half the year, otherwise it was deemed that you are employed by them.?.

 

[Robtheplumb]

i could be wrong but,
i was told that you cannot sub to one contractor for more than half the year, otherwise it was deemed that you are employed by them.?.

Don't know about that, but you do need your own tools and van, if you use your contractors tools you are then classed as employed. You can only claim vat back if you are vat registered. I would ask why you have to go self employed, it sounds like your boss man might be going **** up and he is trying to get out of paying you off.