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  1. Have never seriously considered Revolut, so can't...

    Have never seriously considered Revolut, so can't comment on that. Yes, sounds like for the sums you are talking it doesn't matter much.

    The only fees I pay with TW (for what you are doing) are...
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    If it's a turkey, and someone thinks it quacks...

    If it's a turkey, and someone thinks it quacks like a duck, it says more about them than the turkey.

    I don't think there's any doubt that this is a turkey, but that doesn't make it a duck.
  3. I strongly recommend that you NOT go that way for...

    I strongly recommend that you NOT go that way for your euro clients. I've not had NatWest but I did ask them and other banks when opening a business account some years ago, and asked them if they...
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    Bad idea to change shareholdings twice in a year,...

    Bad idea to change shareholdings twice in a year, could draw attention. Not illegal as such but could fall under aggressive avoidance. I wouldn't recommend that. But what some of these guys are...
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    Unnecessarily restrictive.

    Unnecessarily restrictive.
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    Let's not over-egg it. I completely agree that...

    Let's not over-egg it. I completely agree that it is at best dubious to take these loans if you don't need them.

    But it's not really adding a big amount to national debt unless you default on the...
  7. Hi, Jen. If that's your real name you might want...

    Hi, Jen. If that's your real name you might want to ask a moderator to change it for you, not necessarily a good idea to give personal info too broadly.

    Before going Ltd you want to read up on...
  8. This. The claiming of capital allowances is...

    This. The claiming of capital allowances is irrelevant to this question.

    In general, don't sell to yourself under market value. In practice, you can probably get away with using depreciated...
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    It appears I and my accountant have both been...

    It appears I and my accountant have both been wrong. My company has purchased computers, a desk, and a chair for use in my home office. Since this equipment / furniture is used in my personal home...
  10. When you get old, you start to remember stuff...

    When you get old, you start to remember stuff from long ago but not the recent past. This is obviously a warning to me. :p
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    That £1000 would have been £810 to be distributed...

    That £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...
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    If you're only saving 7.5% you're doing something...

    If you're only saving 7.5% you're doing something wrong. Maybe the guy who asks his accountant to handle it is onto something. :D
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    Spending is not going to be cut until the economy...

    Spending is not going to be cut until the economy is rolling again. They might increase taxes but that would be incredibly stupid.

    If they have any economic sense at all they'll continue with the...
  14. Perhaps, but certainly people with multiple...

    Perhaps, but certainly people with multiple clients have ended up in tribunals. I don't know whether anyone with multiple concurrent clients has actually lost.

    JB is right that technically, it's...
  15. I think there's a little bit of false dichotomy...

    I think there's a little bit of false dichotomy here. In real life, multiple clients almost always brings with it evidence against SDC and against MOO. If you have multiple clients, you can always...
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    There must have been about 10,000 dafter posts in...

    There must have been about 10,000 dafter posts in the last six months talking about IR35 "reform". This was only mildly egregious compared to some of those. :D
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    Clearly they need to take on some outside-IR35...

    Clearly they need to take on some outside-IR35 contractors.
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    Sounds more like a bug to me. Never assume...

    Sounds more like a bug to me.

    Never assume malevolence when incompetence would serve as a reasonable explanation of the evidence.

    Of course, if Barclays has never ever been incompetent then...
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    It's only for coronavirus-affected businesses. ...

    It's only for coronavirus-affected businesses. If you use it and that doesn't describe you, there's the ethical/moral ramifications but also probably legal problems -- it's in the fine print...
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    My view is that in any case, it's raising my...

    My view is that in any case, it's raising my profile with potential clients AND strengthening my relationship with the existing client. I'm not averse to billing a client for it but that's not my...
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    Whether there is any relationship between your...

    Whether there is any relationship between your working future and the working future of "anybody smart" is something that a Scottish jury would no doubt rule, "Unproven."

    Evidence?

    I hate to...
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    Some risk departments are in full-scale panic...

    Some risk departments are in full-scale panic mode these days.

    I don't want to be specific about risks in a public forum, no need to give bad actors any ideas they haven't already had. There...
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    Normally, I'd say if the client is going to agree...

    Normally, I'd say if the client is going to agree to you upping your rate (and they probably will since you're cutting a middle man), just do a deal with your agency to pay them X and get released.
    ...
  24. A UK resident can be an employee of a foreign...

    A UK resident can be an employee of a foreign company. You'll declare your income on your self assessment. You'll have to set up a Direct Payment scheme: National Insurance for people in the UK...
  25. Does Hoey have any bearing on IR35 cases?

    I've started this here because I have no interest in the lovely argument in the thread in the Schemes section of the forum. I've linked to it so anyone can see it if they want but I'm hoping that if...
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    Ok, some other suggestions. Would be nice to...

    Ok, some other suggestions.

    Would be nice to accommodate not just two shareholders, but an option for two directors, where you can set the director's stipend/salary for each.

    An option to...
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    You got feedback on it already. Here's more. ...

    You got feedback on it already. Here's more.

    Maybe most people here aren't making more than £500 / day but some are and £500 / day breaches £100K at 200 days. If someone is on £600, that's...
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    Honestly, there are so many little questions that...

    Honestly, there are so many little questions that are asked when an intern is sitting next to someone with 10+ years of experience that are "not important enough to phone about." So they don't get...
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    Well, well. Not only is what you say about...

    Well, well. Not only is what you say about training true, I've actually learned something about myself.

    The reason I think having staff here to work with me is so important is because actually,...
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    Interesting discussion, thanks for starting it. ...

    Interesting discussion, thanks for starting it.

    I always WFH, the most I'd want to go in would be a half a day a week for meetings. Which is fortunate since I currently have one client in North...
  31. 1. If you go over £10K, you end up with...

    1. If you go over £10K, you end up with reporting, etc. Don't do it no matter what.

    If you accidentally charge something to the company that's actually personal, then that might get booked as a...
  32. I use a rental agreement but we own our home. ...

    I use a rental agreement but we own our home.

    Then this is probably going nowhere.

    If you are the sole employee then you aren't using the kitchen 25% of the time and the office 90% of the...
  33. Not very likely, if his contract with the agency...

    Not very likely, if his contract with the agency doesn't mention end users. There's also the question of how the agency would even know.

    But ultimately, the agency would have to prove loss, and...
  34. Two things: 1. What is this "financial risk" to...

    Two things:
    1. What is this "financial risk" to which you are referring? Just the handcuff clause, or something else? That makes me wonder if there is something here you've neglected to tell us.
    ...
  35. What a bad idea. Far better would be a...

    What a bad idea.

    Far better would be a petition that, since limited company contractors don't receive the same employment benefits or the same government coronavirus support that employees have,...
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    Did you pay CT last year? If so, there's a way...

    Did you pay CT last year? If so, there's a way you can get some of it back.

    If not, do you think you might pay CT next year? If so, there's a way you can reduce it.

    But it depends on what you...
  37. Could be a great time to buy a house. Buy low,...

    Could be a great time to buy a house.

    Buy low, sell high.
  38. If you are giving us the whole story, your...

    If you are giving us the whole story, your accountant is almost certainly incorrect. There may be a risk of it triggering an investigation but that also seems doubtful. You certainly can make...
  39. I agree. Do what needs to be done, let your...

    I agree. Do what needs to be done, let your accountant figure out what you need to do to clean it up. Make sure you have a clear paper trail, especially from the council.

    If HMRC ever tries to...
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    What both of them said, but it is possible that...

    What both of them said, but it is possible that leaving the EU may result in modifications of some of the DTTs in the future, if it results in significantly different approaches to taxation. Seems...
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    If only your clients were smart enough to hold...

    If only your clients were smart enough to hold two thoughts in their mind at once, you could offer them an "easiest" option that costs £50 and a "cheapest" option that saves them £50 but makes them...
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    Indeed. But accountants really are supposed to...

    Indeed. But accountants really are supposed to get the pennies right, so to say something is optimum when it isn't is not great advertising.

    For me it's obvious which way to go because I have...
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    You are forgetting two things: HMRC's view about...

    You are forgetting two things: HMRC's view about PSC bans, and that the banks are tired of being political targets.

    HMRC's view is that those who instituted PSC bans did so because that fit the...
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    Risk/benefit analysis. What's the risk of...

    Risk/benefit analysis.

    What's the risk of losing if investigated? Probably very high. If investigated, they will find out about the inside determination and use it against you and you'll likely...
  45. Who sez I'm cracking at the seams, you plonker! ...

    Who sez I'm cracking at the seams, you plonker! JB, now, he's always been half nuts.

    And maybe I don't post on some threads because I'm lazy. :p
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    They are mostly wrong. If you pay the...

    They are mostly wrong.

    If you pay the additional £740 to get to £9500, you pay 13.8% employer NI but save 19% Corporation Tax. It means you pay a little more tax personally but your company will...
  47. This almost made me feel bad for calling them...

    This almost made me feel bad for calling them stupid the other day.

    I got over it.
  48. Ok. Stupid inside-IR35 contractor has a fee of...

    Can you demonstrate that in numbers?[/QUOTE]
    Ok. Stupid inside-IR35 contractor has a fee of 400 / day, £2K a week, 46 weeks, makes 92K even though he doesn't get employment rights. Equivalent...
  49. That 10% uplift is going to have to pay a lot of...

    That 10% uplift is going to have to pay a lot of civil claims. See you in court.
  50. NLUK is right. You are much more vulnerable as a...

    NLUK is right. You are much more vulnerable as a result of what's happened. An agency swap helps. But you really, really need to get your company closed.

    HMRC needs to do something with their...
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