Can I be my own accountant Can I be my own accountant
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  1. #1

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    Default Can I be my own accountant

    Charge my Ltd for it (a very high rate like £500 per month) and deduct from corporation tax?

  2. #2

    Still gathering requirements...

    Mag has no reputation


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    Yeah, seems a really good idea. In fact, if I were you, I'd charge £1000, you'd be better off.

  3. #3

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    ContrataxLtd is a permanent contractor


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    Quote Originally Posted by SouthernLadEU View Post
    Charge my Ltd for it (a very high rate like £500 per month) and deduct from corporation tax?
    Yes (that's the answer you want right?)

    There are probably a lot of reasons why you won't want to though.....

  4. #4

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    Quote Originally Posted by SouthernLadEU View Post
    Charge my Ltd for it (a very high rate like £500 per month) and deduct from corporation tax?
    yes but you will need to pay personal tax on it so will [almost certainly] end up paying more than the corporation tax would have been

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    Quote Originally Posted by SouthernLadEU View Post
    Charge my Ltd for it (a very high rate like £500 per month) and deduct from corporation tax?
    Yep, and then you take the £500 a month accountancy fees you earn, and pay tax on them personally. As a plan, its got flaws....

  6. #6

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    I'll make my wife accountant she has AAT level 3

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    Quote Originally Posted by SouthernLadEU View Post
    I'll make my wife accountant she has AAT level 3
    that's fine - you could also make her company director or company secretary and pay it as salary for a more easily defend-able explanation

  8. #8

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    Quote Originally Posted by pr1 View Post
    that's fine - you could also make her company director or company secretary and pay it as salary for a more easily defend-able explanation
    Absolutely. But he already knows this becasue his wife has an accountancy qualification... Or does he? :
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  9. #9

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  10. #10

    Respect my authoritah!

    NotAllThere is always on top

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    Sockie banned.
    Hmm. I'm beginning to suspect that you need to find all the packing the computer came in...

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