Youtube comments of Glass Chin (@glasschin871).
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100% worse off , as a former limited company I was earning good money pre pandemic. They brought out the stupid IR35 laws. which they then delayed a year, so limited companies weren’t entitled to full furlough money and unable to claim any the grants. My furlough money didn’t even cover monthly bills , let alone my mortgage. I was unable to work for 6 months , burning through most my savings.
Get back to work and then they bring in the IR35 law. So I would have to pay more tax but have no rights as an employee, sick pay , holiday pay, training , travel , redundancy , job notice period could be sacked the same day as I was technically still self employed just paying more tax and couldn’t claim VAT and Expenses.
So I had to go on the cards , my net take home is now over 30% less than pre pandemic, I pay a higher % my wage in taxes but actually pay less tax than I did company limited as I’m earning less.
I’m also contributing less to the economy as well as I can barely afford to go out due to the rising cost of living.
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