Originally posted by Old Greg
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WFH and expenses
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The greatest trick the devil ever pulled was convincing the world that he didn't exist -
Originally posted by LondonManc View PostAnd all that follows - better retained profits or increased dividends available, etc.
Ireland has an eWorker allowance of €3.20 per day and it's being promoted by Revenue as relevant to home working during pandemic.Comment
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Originally posted by Lance View Postthat was merely speculative assuming a tax saving of the basic dividend rate.
As I've already used that allowance it's more like £325....
I think it would take longer to email the accountant to ask him to make a recurring expense on FA than it would to do it myself./
And that it still less time than to write this....
If in basic rate band, that would have incurred another £60.75, costing you a total of £250.75, leaving you a net of £749.25 if you used dividends.
If in higher rate band, that would have incurred another £263.25 in div tax, costing you a total of £453.25.
So your 10 minutes saved you somewhere between £250.75 and £453.25, depending on whether you were into higher rate band each year or not.
You will have to decide whether this discussion proves you are really intelligent, because you took advantage of this to save hundreds in tax, or whether it proves you are really stupid since you thought it only saved you £75. I choose not to have an opinion on the question.Comment
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Originally posted by WordIsBond View PostThat £1000 would have been £810 to be distributed in dividends after CT.
If in basic rate band, that would have incurred another £60.75, costing you a total of £250.75, leaving you a net of £749.25 if you used dividends.
If in higher rate band, that would have incurred another £263.25 in div tax, costing you a total of £453.25.
So your 10 minutes saved you somewhere between £250.75 and £453.25, depending on whether you were into higher rate band each year or not.
You will have to decide whether this discussion proves you are really intelligent, because you took advantage of this to save hundreds in tax, or whether it proves you are really stupid since you thought it only saved you £75. I choose not to have an opinion on the question.
I’m a fooking techie not an accountant.See You Next TuesdayComment
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Originally posted by Lance View PostIt proves I know just enough to get it right but not know how right it really is...
I’m a fooking techie not an accountant.Comment
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Originally posted by vwdan View PostI just set up a recurring expense in FreeAgent, and a standing order. It's £300 a year, tax free, no matter how you cut it!Comment
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Originally posted by xenomorph View Postdo you do the standing order once a year for 300 or per week for 6 quid?Originally posted by Stevie Wonder BoyI can't see any way to do it can you please advise?
I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.Comment
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Originally posted by SimonMac View PostDepends on other expenses, when I am working away an incurring them frequently I do them monthly, at the moment I am pulling them off when ever I see a nice bottle of single malt I wantIf you don't have anything nice to say, say it sarcasticallyComment
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As the homeworking allowance increased from £4 to £6 per week (effective from April) how much you claim for a company year that ends this month, for example? 44 weeks at £4 and 8 weeks at £6?
Also, it used to be £4 per week or £18 per month so my accountant posted £216 (12*£18) instead of £208 (52*£4) as it was a tiny bit more - I'm not fussed about it but curious as to if there is an equivalent monthly allowance available? Only the weekly allowance was mentioned in the Budget Red Book so I suppose not...
Cheers.Comment
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Originally posted by SDR View PostAs the homeworking allowance increased from £4 to £6 per week (effective from April) how much you claim for a company year that ends this month, for example? 44 weeks at £4 and 8 weeks at £6?
Also, it used to be £4 per week or £18 per month so my accountant posted £216 (12*£18) instead of £208 (52*£4) as it was a tiny bit more - I'm not fussed about it but curious as to if there is an equivalent monthly allowance available? Only the weekly allowance was mentioned in the Budget Red Book so I suppose not...
Cheers.
Yes there's a monthly. That's £26 (6 x 52 / 12)See You Next TuesdayComment
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