How do some of you go on being registered with several agencys when it comes to payment, in regard of the tax?
Also, would it be better being self employed? May be going down this route, have got a couple of blokes interested and several farmers for the summer harvest.
Personally myself and my chap use a company called Nova, with them you pay Ni, tax, save holiday pay, and sick pay, but your kinda classed as self employed with the above benefits. you can claim all your expenses etc, and it does not matter how many agencies you are with, they pay Nova they calculate everything, you submit your expenses and you get paid legal and above board every friday.
My last company uses there own payrole which turned out to be outdated and no longer legal as the changes to single person self employed tax came in last August.
Nova run through an umbrella company.
Take a look at the website and see if you like it or not, it may give you some information 
You have three options as far as I can tell.
Give one of them (the one you do most work for) your tax code, let the rest tax you at BR (emergency basic tax rate) and then if you haven’t earnt your tax free allowance (about 5 grand) and the 10% band (about a further 2 grand but soon to be abolished) through that first agency in a given tax year you can claim back the overpaid tax from HMR&C at the end of the year.
Use something like NOVA or another umbrella company provider to “combine” the incomes from the various agencies and pay you a wage. This will also have other tax benefits such as making it trivial to claim such expenses as approved mileage payments, meal allowances, and so on (see the company’s web site as they will no doubt list everything you can claim).
Find an accountant and form your own limited company which is the most effort route but the most tax efficient route too as you can pay yourself a minimal wage, claim all the same expenses as in option 2 and take the rest as dividends in the same way NOVA and others used to do before the recent changes in tax law.
Personally I use option 3.
Paul
The inland revenue are aware off all tax paid by you as P.A.Y.E, if you have overpaid on a year you will get a refund on the overpayment EVENTUALLY usually in the new tax year.
They are also aware if you have underpaid and will want it.
Or you can tot up all your earings and apply for a refund if you think you have overpaid.
Firebird:
Personally myself and my chap use a company called Nova, with them you pay Ni, tax, save holiday pay, and sick pay, but your kinda classed as self employed with the above benefits. you can claim all your expenses etc, and it does not matter how many agencies you are with, they pay Nova they calculate everything, you submit your expenses and you get paid legal and above board every friday.My last company uses there own payrole which turned out to be outdated and no longer legal as the changes to single person self employed tax came in last August.
Nova run through an umbrella company.
Take a look at the website and see if you like it or not, it may give you some information
oh no…not NOVA… 
Henrys cat:
How do some of you go on being registered with several agencys when it comes to payment, in regard of the tax?
Usually pay tax at what is known as ‘emergecy tax code’, or also know as BR, Basic Rate. Just collect P60’s from that tax years and submit a self assessment form to IR filling in all the P60’s info, usually results in a tax rebate.
Henrys cat:
Also, would it be better being self employed? May be going down this route, have got a couple of blokes interested and several farmers for the summer harvest.
Well the Self Employed stuff has been discussed at length here very recently, someone else may have the link to it. I would just add that there has been recent notices from the IR in the press to the effect that the rules are changing and anyone who answers yes to certain questions needs to complete certain anti terrorism legislation and stuff. I’ll have a gander for a link but someone may beat me to it. As far as i could tell self employed lorry/agency drivers ticked all the boxes.
Mike-C:
Henrys cat:
How do some of you go on being registered with several agencys when it comes to payment, in regard of the tax?Usually pay tax at what is known as ‘emergecy tax code’, or also know as BR, Basic Rate. Just collect P60’s from that tax years and submit a self assessment form to IR filling in all the P60’s info, usually results in a tax rebate.
You don’t necessarily have to fill in a full self-assessment tax return.
In my case, the first year I did it, HMRC just asked me to send them a letter declaring what income I had, and include my P60s. They reclaim the tax I’ve underpaid by adjusting the following year’s tax code.
Now each year they send me a “tax review form” which is basically a cut-down version of the self-assessment where they only include the sections that they think you need to fill in. In my case, it’s only one sheet of A4.
As others have said, the best way of getting your PAYE deductions to be as accurate as possible is to use your normal tax code with the employer that pays you the most, and then ask everyone else to use BR.
Mike-C:
Usually pay tax at what is known as ‘emergecy tax code’, or also know as BR, Basic Rate. Just collect P60’s from that tax years and submit a self assessment form to IR filling in all the P60’s info, usually results in a tax rebate.
Thats correct. And never assume that Revenue & Customs will send you back any overpayment because they won’t. Best to declare all your earnings and request the refund.
Henrys cat:
How do some of you go on being registered with several agencys when it comes to payment, in regard of the tax?
A couple of years ago, in the same Tax year, I worked for a couple of Agencies and did Casual work for a couple of firms. Each of which applied my ‘allowances’ before deducting Tax.
The result was that I received a notice stating that they intended to adjust my Tax Code in order that a ‘wodge’ of money would be recovered over a two year period.
When I looked at it more closely, I noticed, with my records having been moved from one Tax office to another, they had actually missed off a ‘wodge’ of income and phoned them up about it. The result was that I owed them even more, but that they would recover it over an extra year. Perhaps I shouldn’t have phoned. 
However, as it was partly their fault, I’m fairly sure that I could have pleaded ‘undue hardship’ and got another year out of them.
Look upon it as an ‘interest free’ loan. Whilst the money has to be repaid, if you haven’t messed them about, then they tend to be quite lenient as to when it has to be repaid.
I’ve always found them, particularly in an Industry such as this, where one might be working Casual on a Day Rate for two or three weekdays, and then working the weekends through an Agency on enhanced hourly rates, tolerant of the fact that oversights might occur or that it might be preferable not to disclose sources of income to alternative employers.
“Muddying the waters” is not in their interest. The more you earn. The more you pay. And if it takes a little longer before you pay it, then so be it. After all, at the end of the day, even dying, although extreme, will not discharge a debt to HMRC. 
killsville:
Mike-C:
Usually pay tax at what is known as ‘emergecy tax code’, or also know as BR, Basic Rate. Just collect P60’s from that tax years and submit a self assessment form to IR filling in all the P60’s info, usually results in a tax rebate.Thats correct. And never assume that Revenue & Customs will send you back any overpayment because they won’t. Best to declare all your earnings and request the refund.
Thats what I did and I had no problems.
I was on the books of about 10 agencies ( I weeded out the ones who never gave me any work).
The one which gave me most work was my ‘Main Employer’, I paid my tax code rates on PAYE through them.
The others I paid BR rate PAYE.
At the end of the tax year I counted everything up, set everything out, took my accounts, with the evidence, to my local tax office and requested a refund on the overpaid tax.
A very straight forward process.
The refund arrived just in time to tide me through the lean period.
A nice way to save, it feels great getting a cheque off the tax man. Them paying you, for a change 
.
I think they also paid me interest on it, but I’m not sure about that. It was over 15 years ago.
Being a Scot, I didn’t frame the cheque, it went straight into my account , so I can’t check on that.
Thanks for all the info.
Nova is definatly not the way forward for me, as I will have income from the farm, lorry firms, agencies, and local farmers. We have a very good accountant which we use for the farm and I’m going to see him in the new year.
Hopefully, what I’ve got lined up to start in a few weeks will work out ok, but am just exploring my options.
Henrys cat:
Nova is definatly not the way forward for me, as I will have income from the farm, lorry firms, agencies, and local farmers. We have a very good accountant which we use for the farm and I’m going to see him in the new year.
Given that the income will come from several very different sources and you already have an accountant you can work with then I would say that your own limited company is almost certainly the way to go.
Paul
Recently working for multi agy, I`ve been getting the odd week where no tax has been paid by 1 or more agys, and even refunds.
though I recently swop primary agy and gave them my P45 which resulted in quite a nice chunk of tax back, plus they gave me the value of accrued holidays the same week resulting in a massive 4 figure tax free pay packet pre xmas
Firebird:
Personally myself and my chap use a company called Nova, with them you pay Ni, tax, save holiday pay, and sick pay, but your kinda classed as self employed with the above benefits. you can claim all your expenses etc, and it does not matter how many agencies you are with, they pay Nova they calculate everything, you submit your expenses and you get paid legal and above board every friday.My last company uses there own payrole which turned out to be outdated and no longer legal as the changes to single person self employed tax came in last August.
Nova run through an umbrella company.
Take a look at the website and see if you like it or not, it may give you some information
to be honest fire bird upto 6 months ago i was praisin NOVA till i joined this forum & a few members were say how sily i was.so i made appointment with accountant made myself limited (did’nt realise how easy it was) & never looked back,
i was with nova for 2 year at £25 a week x 48 week = £1200 x 2 year £2400
just for their services so i supose i was stupid.
OK… interesting
"Welcome to the Nova Umbrella Company Service " bah bah
(looks like a useful service, that enought free advertising from me)
Now as someone thats been self employed before and handled my own acount’ing
I a little curious as to why its an advantage for a single self employed person
to " form his own Limitied Company "
Please would someone in that situation
please enlighten me as to the advangage(s)
DoubleQ:
I a little curious as to why its an advantage for a single self employed person
to " form his own Limitied Company "
The main reason in this scenario is that being self employed in the literal sense is often not acceptable to agencies as many of them have been stung by HMR&C after they have had drivers who have told them “I’m registered self employed and paying my own tax and NI” and in fact are telling porkies and then when HMR&C find out they have gone back to the agency for all the missing tax and NI. If they are paying invoices from a genuine limited company (that they can check at companies house) then their backsides are covered on this score.
Paul
I don’t know if the rules have changed, but my father had a limited company and when he died in 1968 the family were going to wind it up. Before doing so the accountant advised us “don’t do that it will cost you a lot of money, just keep filing trading returns showing that the company has not traded in the last year and save some money”. Then, in the 1990’s, the cost of filing returns shot up so we decided to wind up the company and it cost us an absolute fortune to do so. If I were you I would check out what it costs to finish with a limited company, if circumstances change (which they can very easily in this industry), before setting one up.