Quote:
Originally Posted by lurch
Yes there are other savings but they are that of time and administration, you don't have to worry about calculating tax, statutory payments, holiday pay, insurance, things like that. Limited should take care of all that for you, streamlining what you have to do.
It may seem relatively minor but it all mounts up, the problem is that it's difficult to calculate exactly how much each item is worth. From what I've seen only the companies paying a lot of the higher end contractors take the time to work it out.
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It's still a finger in the air exercise though lurch.
PAYE = no saving
LTD = employer's national insurance, payroll manager, holiday pay saving
The higher end agencies may well take the time to figure out the total saving, whether they then choose to pass this saving back to the contractor is another matter entirely.
G