Debt advice please :)

couldntgetworse

itydntk wrote: »

Hi CGW

I've experienced agencies insisting that you are a director of any company that you use for contracting. This is because you must have complete financial control and ultimately liability for your work. The only way round this if you are contracting in the normal way is to use an Umbrella company. I can recommend one that I use that is recognised as being reputable by a number of agencies. Problem is that you end up paying higher tax. Currently I pay 46.5% tax!

My current contract doesn't mention me having overall financial control (I've just read it) but this is an IR35 thing I think

I was going to go along the rout of being hired on a "zero hours" contract. I'm an employee. He makes the NI contributions for me. I works hours when I've got work and he pays me hourly and run the PAYE. However I understand that I'll get employee rights which he may not go for.

Another option is working through his company and invoicing him. I would then pay tax and NI as if I were self employed.

Just found out my house is in negative equity, which may be a bonus.

itydntk

Lorem ipsum

Sunk

Just been reading through your threads.....you are at the bottom now so the only way is up.
Yes, you will come up, we all have some horror stories on here & we survived.

I never thought I would get to where I am now, it was not so long ago that the roof over my head was in the back of a luton van with 3 kids under 4 after being re-possessed (yes they do kicked you out when you have kids).
I look back & laugh at the memory of trying to warm up a bottle of milk in the back of the van to feed the baby who at the time was 5months.

You will have a turning point believe me.
The very best of luck.

shadowdragon

Sunk wrote: »

Just been reading through your threads.....you are at the bottom now so the only way is up.
Yes, you will come up, we all have some horror stories on here & we survived.

I never thought I would get to where I am now, it was not so long ago that the roof over my head was in the back of a luton van with 3 kids under 4 after being re-possessed (yes they do kicked you out when you have kids).
I look back & laugh at the memory of trying to warm up a bottle of milk in the back of the van to feed the baby who at the time was 5months.

You will have a turning point believe me.
The very best of luck.

all I can say is WOW, and congratulations on getting past a low point like that. Hope you got a bit more of a home now

Enoughsenough_3

I've only just seen this thread and thought I'd stop by and give you *hug* and tell you I hope everything sorts itself out in due course.

I'm in a different situation to you but the common theme with yours is that I feel like such a sh*t for the impact I'm going to cause my OH (even though he's been more than a sh*t to me in the past!!). It's so awful to know you're going to hurt someone even more, but even only having been a member of this board for a week or so, I can already see that I have to put myself first. I've got a lifetime of years ahead of me and I am not going to live them in misery.

Hopefully we'll be able to look back and wonder what we were so worried about in time. But for now hang in there and just make sure you get the right advice and do what's right for you.

Oh, and I've got two roborowski hamsters by the way! Not sure if they're the same as chinese dwarf's but they're very tiny!! Very cute too :-)

Take care
EE