Any one using this Nova scheme? Just gone back on agency and would I be better of joining Nova?
Had a look on thier website but could not get to grips with what it’s all about.
Wayne.
Suggest doing an archive search for them. They’ve been discussed in plenty of detail in the past.
Basically, they do take a lot of you but you’d still take home around £70 extra on an average week of tramping (I found) but you’d be much better off finding an accountant as cheap as possible where you’d save even more in comparison.
Don’t forget that there are rules about being self-employed now in that you need to have guaranteed work from at least 3 companies (correct me if I’m wrong someone, only going from memory) and if you can’t provide evidence then the taxman spits his dummy out, although I’ve not heard of any cases myself where this has happened yet.
I was with them a while ago.
I decided to do what they did myself and save money. My accountant said this was better.
One of my drivers have just gone with them - he’ll have to judge for himself what he thinks. It doesn’t cost me anything, but there are times when they make muck-up’s.
I used to pay them £30 per week, I understand that this is now £25 due to more in the business doing the same.
ive just signed up with them. so we will see they sound ok but made a bit of a mess up with the online form but it seems to be sorted but i should get my welcome pack tomorrow.
i did some research before i joined and one driver on it told me that he had an accountant but went on nova cos he couldnt be bothered with sorting all the tax himself (which i what im like).
you can claim 40p a mile petrol and other tax dodges and also pay ni at £2.00 a week instead of £50 plus the agency will pay you £1.00 an hr more on the rates.
if you pm me when i get more info i will pm you with it.
if it didnt sound good i wouldnt do it and belive me im careful with my money
jessicas dad:
also pay ni at £2.00 a week instead of £50
That is the standard weekly Class 2 N.I. for self employed, well since April it is now £2.10, but you will pay more N.I.somewhere down the line. When your tax bill arrives it will also contain a N.I. contribution worked out on the difference between what you should have paid and the £2.10 a week you have paid.
belive me im careful with my money
Typical Yorkshireman then!!!
Ken.
Quinny:
belive me im careful with my money
Typical Yorkshireman then!!!
Ken.
Come on Ken, you know the saying about us resident’s of God’s own county :
See all, hear all, say nowt
Eat all, sup all, pay nowt.
And if tha ivver does owt for nowt
Do it for thissen.
Cos tha can reckon on this,
Tha’ll get nowt from thee!
Not true Ken.
Yorkshirmen are very generous!
Look what Rob’s given me!
Ian.
Rob K:
say nowt
I don’t think that parts right
Coffeeholic:
jessicas dad:
also pay ni at £2.00 a week instead of £50That is the standard weekly Class 2 N.I. for self employed, well since April it is now £2.10, but you will pay more N.I.somewhere down the line. When your tax bill arrives it will also contain a N.I. contribution worked out on the difference between what you should have paid and the £2.10 a week you have paid.
il have to wait and see like i said i should get the welcome pack today if it dosent work out …
nothing ventured nothing gained
Keep us posted how it goes.
Wayne.
Coffeeholic:
jessicas dad:
also pay ni at £2.00 a week instead of £50That is the standard weekly Class 2 N.I. for self employed, well since April it is now £2.10, but you will pay more N.I.somewhere down the line. When your tax bill arrives it will also contain a N.I. contribution worked out on the difference between what you should have paid and the £2.10 a week you have paid.
It’s called Class 4 National Insurance and is payable (in this tax year) at 8% on profits between £4895 and £32760. Any profits above £32760 are charged at 1%.
Also, only the Class 2 contributions count towards benefits, state pension etc so anybody who is self employed throughout their working life will only be entitled to basic pension when they retire.
jessicas dad:
you can claim 40p a mile petrol and other tax dodges…
Check with the Inland Revenue. If you are self employed, you should be claiming the actual costs of travelling not a fixed mileage rate.
Not sure what the “tax dodges” are though
killsville:
jessicas dad:
you can claim 40p a mile petrol and other tax dodges…Not sure what the “tax dodges” are though
to be truthful there dosent seem to many but you do get drycleaning at £2.20 per item i just have to find a way of getting receipts.
Hi TruckNet
Great to see you all discussing Nova. We are very interested in your views. You guys make up more than 60% of our business which makes us number 1 for the choice of truckers so we do make a lot of you happy.
If you have any specific questions I can answer them for you. We also want to know about those who were unhappy and why.
I’ll check on a weekly basis and answer asap, but of course you can all email us on www.novaservices.co.uk if you would like a speedier reply.
Regards
Alice
Advertising in post ok’d by Rikki
From what I can tell pretty much everyone working for an agency is ineligible to work for Nova anyway, according to Nova’s own website.
If you have a look at http://www.novaservices.co.uk/ir35.html and at the first list of questions you’ll see what I mean. The one that jumps out at me most is question (d), and I would be very surprised if anyone on agency can honestly answer “no” to that question. Any agency when they ring you up is requesting you personally surely? This immediately makes me (and I suspect most other agency drivers) ineligible.
Before IR35 came along Nova was a great idea but as far as I can tell now we have IR35 it’s a way to more money in your pocket now and a huge tax bill later when the tax man spots you.
Paul
Hi Paul
Thanks for your query.
The particular part of the IR35 you question is the substitution but you are misunderstanding.
Yes, when the agency calls you they are obviously asking for you, but the IR does not refer to this part of the recruitment process.
I will give you an example of what the IR means regarding the substitution. If you are working for a client the agency have sent you to and are off sick or on holiday, the client would like a replacement to continue the work.
The agency would then call another driver and place him temporarily.
If the agency could not replace him because the initial driver has a special skill that the client requests and no one else could do that job, it means they cannot be substituted therefor should be an employee of the client and not working on a self employed basis.
I hope this answers your query
Regards
Alice
alicelake:
I hope this answers your query
I’m still very much not convinced. As I understand it (and I should point out here that I don’t claim to be an expert in these matters, so I could be way off target here), for your (Nova supplied or otherwise) limited company to fall outside IR35, the “right of substitution” needs to exist in the contract between your company and the agency. That bit in italics is what is, as I see it, important. The contract between the agency and the end client company at the top of the chain is irrelevant in this instance. What I’m trying to get at is that should the agency ask my company to supply a driver then unless I have the right in the contract to supply an alternative (suitably qualified and competent) driver should I be ill or decide not to do the shift without needing to seek permission from the agency first then my company falls inside IR35 and Nova or any other similar scheme is worthless.
http://www.ir35calc.co.uk/right_of_substitution_ir35.aspx seems to back me up on this.
Paul
Interesting.
Alice can you tell us publicly - and honestly - how many “employees” of yours have been challenged by the tax man and have had to pay back the “missing” tax and NIC since IR35 was brought in 