General Discussion: Shego's Employment/Work Thread!


Show original post
toiler
toiler avatar

139 posts since 4/5/09

1 Dec 2019 20:18
Any site engineers/setting out engineers on here?
TATE
TATE avatar

329 posts since 5/12/12

1 Mar 2020 17:23
Anyone work in marketing/social media here? If so, please could you drop me a pm? Cheers
krisricey
krisricey avatar

2187 posts since 24/3/12

4 Aug 2020 15:40
Was made redundant yesterday. If anyone knows of any graphic design / artworker roles in London/Sussex/Surrey please let me know. Cheers.
Meatease
Meatease avatar

329 posts since 22/7/11

9 Oct 2020 11:17
Questionnaire as to what you can retrain as Laughing out loud

https://beta.nationalcareers.service.gov.uk/
Rirawin
Rirawin avatar

9410 posts since 17/7/05

posted 26 Oct 2020 18:37, edited 26 Oct 2020 18:37
I might be moving jobs to work for a Canadian company remotely. They do not have a legal EU entity yet and therefore are only able to take me on as a contractor. I had a few queries when it comes pay and taxation.

1) I have the option to be paid in $USD or £GBP. I'm going to choose $USD as while the £GBP is in the gutter, I have a feeling it's going to fall even further, perhaps even hit parity with the $USD come post Brexit/January 1st 2021. What accounts should I be looking at to have the money paid into? I notice some high street banks offer foreign currency accounts or am I better to use something like Transferwise?
2) Self assessment forms, are they easy to do or better to pay someone to do it for you, especially if the salary is in $USD?
3) Will I have to pay double income tax (Canada and UK), with having to claim the tax back at the end of the tax year?

TIA!
andymakesglasses
andymakesglasses avatar

20439 posts since 26/1/06

posted 27 Oct 2020 09:22, edited 27 Oct 2020 09:22
1) While you're probably correct about the exchange rate I have always opted to be paid in GBP wherever possible as all of my living costs are in GBP so the amount remains fixed and I know what I'm receiving in relation to what I'm spending. I think this is even more of a consideration when you're talking about a regular salary rather than project-based fees that I tend to work on. Sometimes you'll win and sometimes you'll lose but at least you know what's coming in. I use Transferwise for sending foreign payments and the exchange rates are always far better than anything I've seen from a High Street bank.

2) Self-assessment forms are easy enough to do. Very simplistically it's just a case of totting up your incomings and subtracting your allowable expenses to give a final taxable amount. Obviously the more sources of income you have (salary, shares, rental income, and so on) the more complicated it becomes. The benefit to paying someone to do it is they will know the way to structure everything for maximal efficiency.

3) The UK has a double taxation agreement with Canada so you should be ok. https://www.gov.uk/government/publications/canada-tax-treaties I don't know how it works though in terms of whether you have to apply for anything or if it's automatic. But actually if you're living here, working here remotely and being paid into a UK bank account (i.e. not a Canadian one) then you won't be liable for income tax in Canada anyway.
YLAup
YLAup avatar

5485 posts since 5/9/11

27 Oct 2020 09:30
In terms of the third one, I believe it's the internationally based hiring company themselves who are hit by the tax implications. Whether they know this or not (depending on how experienced they are in recruiting overseas workers) there is rarely any waynof them getting around not paying a higher rate of tax, whatever the currency you are paid in.
Rirawin
Rirawin avatar

9410 posts since 17/7/05

27 Oct 2020 19:08
Thank you both. Just signed the contract! Interestingly they are looking to utilise something like https://papayaglobal.com/ as they expand their global workforce, so hopefully it won't be too much of a headache in the long term.
-DiscoTits-
-DiscoTits- avatar

870 posts since 26/11/07

27 Oct 2020 19:30
Definitely get paid in GBP. I get paid in Norwegian Kroner and its a fucking nightmare for applying for mortgages etc.
Rirawin
Rirawin avatar

9410 posts since 17/7/05

29 Oct 2020 11:44
Any recommendations for accounting software? The finance department in my current company uses Xero and they always bang on about it, is it decent for someone who's self employed? Think I'll go down the route of doing it all myself first and see how that goes Laughing out loud
blackham
blackham avatar

1820 posts since 17/7/13

29 Oct 2020 11:51
Rirawin wrote: Any recommendations for accounting software? The finance department in my current company uses Xero and they always bang on about it, is it decent for someone who's self employed? Think I'll go down the route of doing it all myself first and see how that goes Laughing out loud

I've been using Xero the past 4 years and it saves so much hassle. It's about £26pm but with that there is never a need to save receipts. Everything is linked to your business accounts: expenses, costs, invoices, bills due (tax etc.). It's relatively easy to use and has saved me loads of time. My accountant has access to it and thus can see what I owe and when. You just have to keep it updated by reconciling your costs / expenses / bills / invoices to the specific tax bracket.
Rirawin
Rirawin avatar

9410 posts since 17/7/05

29 Oct 2020 12:38
Ta Xero does look good.

Having said that, just had a peek at Starling Bank's business accounts and they have one that includes a toolkit (covers booking keeping, taxes, invoices, receipts and connects to HMRC's make tax digital), all for £7 p/m.
illmurray
illmurray avatar

539 posts since 18/4/12

1 Dec 2020 09:10
Such an ask this but I've recently begun writing on film. I've got a very small but I think fairly decent portfolio already (a few pieces of varying style, length, focus and a longform interview). I'm probably only getting paid for a quarter of what I do (as is expected). Does anyone have any advice on making the step up? (apart from get out of there and do something else quick) Feel free to PM me.