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  1. Replies
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    Fwiw, the event details are worded quite...

    Fwiw, the event details are worded quite differently on Mercer's website.

    The target audience... who knows? The recruiter that sent that email, hopefully!
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    In the context of the email 'client' would be a...

    In the context of the email 'client' would be a good choice.



    It's because used in the context given it displays an ignorance of the subject matter, that being "IR35 Webinar: Ensuring a proper...
  3. Hmm. If you need an online portal to divide A / B...

    Hmm. If you need an online portal to divide A / B for you then go for it, just be sure to sanity check it with a calculator! ;)

    I'm interested to know more on using Oct 2020 PAYE "depending on how...
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    Woodrow Mercer - IR35 Webinar

    IR35 Webinar: Ensuring a proper review is conducted for each of your engagements

    Hi ....,

    Have you already felt the effects of IR35 reform and feel your contract engagement hasn’t been reviewed...
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    What is unclear however is how to apply flexible...

    What is unclear however is how to apply flexible furlough going forward.

    How the heck does a company director taking a fixed salary account for "usual" and "worked" hours? The CJRS portal...
  6. 1) The claimable amount is based on PAYE...

    1) The claimable amount is based on PAYE submitted pre-March. You can award yourself any pay rise you like of course, but the government will not pay for it (just imagine if they did...). It looks...
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    Or... Assuming the company has £40k pre-tax...

    Or...

    Assuming the company has £40k pre-tax profit to play with after paying all other expenses.

    Say the company makes a £10k contribution to your SIPP for this company year. At year end it...
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    Eligible only *if* you take a salary. Ergo, not...

    Eligible only *if* you take a salary. Ergo, not eligible if you don't take a salary.

    Actually it's the company that is eligible, or not.

    Calculated on the salary amount you took (and...
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    Yes, un-furloughed for a period during May. ...

    Yes, un-furloughed for a period during May.

    June/July/August - furloughed.

    September - had a client video call, plus bought a new PC and other kit (webcam, etc.) through the company. Though...
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    LINK...

    LINK - click on "Agreeing to furlough employees" and scroll down to "Using minimum furlough periods".

    LINK - click on "Agreeing to furlough employees" and scroll down to "Using minimum furlough...
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    That's my understanding too. Some commentators...

    That's my understanding too. Some commentators were stretching this to include director's duty to promote the company, but I'm stopping short of that. I'm probably over-thinking it. In fact I know...
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    CJRS while on the bench with ad-hoc work

    Since before the start of Covid I have been on the bench, taking a break, although of course still conducting duties as director of MyCo.

    As I was already not fee earning (and not actively...
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    That's a fairly sweeping statement. Some...

    That's a fairly sweeping statement.

    Some clients want e.g. confidentiality agreements to be agreed by the person and not the company. *

    PI covering the director personally might be useful in...
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    Not overthinking it, just curious. Over the...

    Not overthinking it, just curious.

    Over the years I've seen different methods from accountants. Practically it makes no odds. Deducting VAT from bank balance is a new one on me though.


    ...
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    Trade Creditor/Debtor and Accruals

    Just want to clarify my understanding, I know that practically it makes no odds, but which is more correct :-

    Client overpays an invoice, or you invoiced incorrectly and issued a credit note, but...
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    Sticky: Technically - yes, if the schemes will allow it. ...

    Technically - yes, if the schemes will allow it. Practically - try not to let the tax tail wag the dog, think carefully whether those old schemes are worth it.



    Good advice ^. Except...
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    Just to be clear, the client paid 'You' directly,...

    Just to be clear, the client paid 'You' directly, or 'YourCo' directly.?



    A perfectly reasonable request. Their next step would be to pursue a legal claim, and you really don't want that.
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    Yes. Obviously there may be caveats relating to...

    Yes. Obviously there may be caveats relating to specific circumstances, but generally - yes.


    Source: Carry Forward Annual Allowance



    Not quite. The pension scheme must allow employer...
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    Oh, holiday pay, really? Feel free to use the...

    Oh, holiday pay, really?

    Feel free to use the CJRS calculator if you want to. I kinda hope the typical contractor co. on minimum salary wouldn't be needing a web app to multiply by 0.8!

    Fwiw,...
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    The CJRS calculator does not work for annual...

    The CJRS calculator does not work for annual salary. It probably doesn't work for director's NI either.

    But assuming no NI then it's hardly rocket science, just divide annual salary by 12 and...
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    Either yourco is on PAYE monthly, quarterly or...

    Either yourco is on PAYE monthly, quarterly or annual scheme.

    To be on the Annual Scheme you must have notified HMRC of this (and it must apply to all employees of the company) and then you will...
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    kiss

    kiss
  23. Replies
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    Thanks everyone. Actually that's as I thought. ...

    Thanks everyone. Actually that's as I thought. My accountancy firm originally said the divvy was disallowed on the basis of the loss, but we're in agreement now. :)

    I have a follow-on question -...
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    Dividends and CT loss

    Hello :wave:

    Q. Is it allowed to declare and pay a dividend if the company has made a loss in that same year?

    To be clear, that's a loss, and NOT that the company is, was ever, or expects to...
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    It's the net difference. Effectively...

    It's the net difference.

    Effectively everything (CT, PAYE, divvies) is thrown back into the pot and the calculation is made afresh as if the contract earnings (minus allowable expenses) were paid...
  26. In that case speak to your accountant about...

    In that case speak to your accountant about winding up the company now. Cite not knowing your liabilities as one reason for wanting to wind up. Ask what they need from you.

    If you still need a...
  27. Mine generally turns around the "stuff" (a...

    Mine generally turns around the "stuff" (a spreadsheet) into filed accounts within 48hrs. Sometimes I think he's just showing off, like ha this is so easy and that'll be another grand for a day's...
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    You're right and I stand corrected.

    You're right and I stand corrected.
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    Stop worrying about this. Either you dispute...

    Stop worrying about this.

    Either you dispute the damage or you don't. If you dispute it then stay firm and chase for payment.

    The agent seems to be accepting your case anyway. Show yourself as...
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    Which is fine if all the calls are for business....

    Which is fine if all the calls are for business. Otherwise paying for the contract on a personal phone is to be treated as BiK. That is, if my memory serves correctly and the rules haven't changed...
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    For a one off tenner six years ago, mine spells...

    For a one off tenner six years ago, mine spells the Co name.

    And straight flush beats three of a kind, so :p
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    Sorry to hear your news. You are lucky the...

    Sorry to hear your news.

    You are lucky the agency is being (or appears to be) supportive. But it is you that should be calling the shots.

    Based on the facts as presented, IMHO, get a signed...
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    I agree with the sentiment that FRS was too often...

    I agree with the sentiment that FRS was too often viewed purely as 'free profit' ignoring its intended purpose. However the cynic in me thinks this is more than just unintended collateral damage.
    ...
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    +1. How often have we read moans about being...

    +1.

    How often have we read moans about being "out of pocket" because the client will only reimburse net + VAT ?

    That said, it is quite obviously a punitive tax grab targeted specifically at...
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    I'm not sure there is a "norm". It's business. ...

    I'm not sure there is a "norm". It's business.

    Just as an anecdote though, I did a one week job to support some work from a previous contract. Asked for a decent increase on the rate and the agent...
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    The OP asked specifically that. So presumably...

    The OP asked specifically that.

    So presumably they can bothered, even if perhaps the answer wasn't quite what they were hoping for.
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    It's not valid to judge simply from the bank...

    It's not valid to judge simply from the bank balance.

    At any point in time, say that:
    - all currently outstanding sales invoices have been settled
    - all debts that would be due in the coming...
  38. Because the alternative might be a penalty from...

    Because the alternative might be a penalty from HMRC for wrong assessment.

    Oh, and it's only 20% or so, ... and that is likely to be shared between client, squeezed agency margin, lower rate for...
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    No. Hector will not stump up the cost of your...

    No. Hector will not stump up the cost of your meal.

    Your company incurs an expense. This reduces the company's profit overall. Less profit means less tax owed.
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    Good point well made. The answer, theoretically,...

    Good point well made. The answer, theoretically, is that if required by law then they will need to get their tulip together.
  41. The tax must be paid as if subject to PAYE but...

    The tax must be paid as if subject to PAYE but the company is not forced to pay the remainder as salary. It could be retained if the director so decided (not that it makes sense to do so).
  42. AIUI, it was tried and succeeded (HP rings a bell...

    AIUI, it was tried and succeeded (HP rings a bell too). Success being defence of the IR35 investigation, the employment tribunal was lost.

    I'm not sure it deserves to be called a "Nuclear...
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    That might need some explaining. Are you...

    That might need some explaining.

    Are you referring to this - https://forums.contractoruk.com/

    I'm here via http://forums.contractoruk.com/
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    The ^.* matches preceding garbage. For the...

    The ^.* matches preceding garbage. For the trailing garbage the $ would be .*$ however both are redundant to your purpose and can be omitted.

    The (.+) matches to end of line and not just the...
  45. Well done for [pretending to] spectacularly...

    Well done for [pretending to] spectacularly missing the point.

    Nobody here actually wants employee rights.
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    Isn't that how everyone does it? So a £400/pd...

    Isn't that how everyone does it?

    So a £400/pd contractor planning to bench for 12 weeks per year may as well de-register from VAT?
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    It's a fair question. :laugh

    It's a fair question. :laugh
  48. The HMRC guidance is clear. It's not a...

    The HMRC guidance is clear. It's not a disbursement.

    But HMRC don't give a hoot on the amount you recharge, just that you add VAT on top.

    That means for an original £100+VAT expense, you may...
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    It doesn't matter who pays for the expense or how...

    It doesn't matter who pays for the expense or how - personally, by YourCo, or by ClientCo - the same rules apply. At least that's how it used to be with P11D (disclaimer: I haven't checked recently,...
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    The taxman only cares that you charge VAT on top...

    The taxman only cares that you charge VAT on top of everything.

    The amount is a contractual matter and needn't even need to bear relation to the original cost.

    Being on FRS has no bearing on...
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