Originally posted by AnotherGuy
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Draw salary from my limited company when out of contract
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Originally posted by SlipTheJab View PostHave you tried asking him why?
Then they replied to me asking when my contract ended and explaining to me they had to stop the payroll and I should stop claiming any expenses...
Basically I encouraged them to do this, with my simple question. At any moment I gave them the impression I wanted to close the company or make it dormant or whatever. Just out of contract looking for a new one.Comment
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Originally posted by AnotherGuy View PostThey actually did this after I asked them if everything is fine once I finished my contract, if I should change anything or just continue drawing salary and dividends as usual.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostNot a very smart question to have to ask though is it. I can't help thinking this isnt entirely the accountants fault
Are you suggesting he should have posted it here and have the first reply be "have you asked your accountant"?Comment
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AG, may I ask are your accountants UK based? Also, what expenses were you trying to submit?…Maybe we ain’t that young anymoreComment
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Originally posted by WTFH View PostAG, may I ask are your accountants UK based? Also, what expenses were you trying to submit?Comment
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Originally posted by pr1 View PostAlthough it's maybe not worded very well, it's a fair question to ask...
Are you suggesting he should have posted it here and have the first reply be "have you asked your accountant"?
Anyway. I'd go back to him and ask him exactly why he thinks this and don't get off the phone until you fully understand what he is saying. If we can understand his argument we might have a better idea of what to do next.Last edited by northernladuk; 7 January 2016, 13:26.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by AnotherGuy View PostYes, UK based. Out of contract my only expenses are £18 use of home, travel for interviews, some hosting/server monthly charge, insurance and accountancy. Nothing fancy.Will work inside IR35. Or for food.Comment
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Originally posted by northernladuk View PostAnyway. I'd go back to him and ask him exactly why he thinks this and don't get off the phone until you fully understand what he is saying. If we can understand his argument we might have a better idea of what to do next.
They said they are following HMRC guidance here
They give me the choice to continue taking salary but apparently they ask for a written consent in case I were to be investigated by HMRC in the future.
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Originally posted by AnotherGuy View PostI've been in contact with them and the explanation is they don't recommend to take salary while my company is not generating income as (textual) "you can’t justify to HMRC why you want to take salary when you are not working" and (textual) "they will see it as tax avoidance".
They said they are following HMRC guidance here
They give me the choice to continue taking salary but apparently they ask for a written consent in case I were to be investigated by HMRC in the future.
Paying out money as salary is the very opposite of tax avoidance.Will work inside IR35. Or for food.Comment
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