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  1. Replies
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    Employees are paid overtime. Not good for IR35...

    Employees are paid overtime. Not good for IR35 purposes ...
  2. Replies
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    2,176

    It's a good idea to move swiftly on this and get...

    It's a good idea to move swiftly on this and get the new accountant to review that you have maximised your income to gain tax advantages before the fiscal year end 5th April.
  3. Replies
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    If you follow my link and go back over the...

    If you follow my link and go back over the previous pages, you find this page which is directed specifically as service companies and provides several examples of computer contractors.

    Other...
  4. Replies
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    23,886

    I think you'll find the rules changed for service...

    I think you'll find the rules changed for service companies
    Other expenses: home: household expenses: expenses that are not deductible
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    1,229

    Companies House advertise the application for...

    Companies House advertise the application for striking off a company in the London Gazette. This is notification for any potential creditors to make a claim and stop the dissolution. Clearly there...
  6. Replies
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    1,367

    Leasing may have benefits but you may struggle to...

    Leasing may have benefits but you may struggle to sign an agreement with a brand new limited liability company with no accounts. Where as companies such as certain mortgage providers will go on the...
  7. They do actually have the ICAEW logo at the very...

    They do actually have the ICAEW logo at the very bottom of their web page
  8. I think this was later replaced by this, hard to...

    I think this was later replaced by this, hard to know sometimes as HMRC guidance is not dated

    Other expenses: home: household expenses: expenses that are not deductible
  9. Home working expenses that you wholly,...

    Home working expenses that you wholly, exclusively and necessarily incur in the performance of your duties and which exceed the HMRC allowable £3 per week may be allowable against corporation tax...
  10. Replies
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    5,027

    Consider what your income will be next and...

    Consider what your income will be next and subsequent years. If you have turnover that would put you in the higher tax bracket each year, then unless you are amassing reserves in the company for a...
  11. It isn't part of their standard package but they...

    It isn't part of their standard package but they are brokers and may have a solution for you, or point you in the right direction.
  12. You could try Kingsbridge Professional Solutions...

    You could try Kingsbridge Professional Solutions. They offer insurance for contractors. Ask to speak with Zubair Ahmed.
  13. Replies
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    3,362

    As from 1st March, there will be a ceiling amount...

    As from 1st March, there will be a ceiling amount of £25,000 when using the ESC C16 route. However, if using a formal voluntary liquidation, there will not be any restrictions.

    Another point to...
  14. Replies
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    2,482

    HMRC rules for "home costs" are not the same for...

    HMRC rules for "home costs" are not the same for service companies, which changed in 2005/6

    Home is the workplace

    Home working expenses that you wholly, exclusively and necessarily incur in the...
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    We are seeing a lot of this from agencies in the...

    We are seeing a lot of this from agencies in the last few weeks/days.
    Many smaller agencies are wary of the AWR and how it related to Ltd Cos, so putting contractors to umbrella's mitigates their...
  16. Replies
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    Depending on the way in which your accounts are...

    Depending on the way in which your accounts are presented will depend upon the price you are quoted. If you have the entries entered into a spread sheet and allocated into categories with "totals"...
  17. It's possible that there may be further issues...

    It's possible that there may be further issues with regards the IR35 status unless the contract was advertised and open for others to apply for....personal service springs to mind
  18. The 24 month rule comes into effect from when you...

    The 24 month rule comes into effect from when you "know" that you will be on site for 24 months or more, so for example, if you undertook a 12 month contract then had it extended for a further 12...
  19. Replies
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    1,240

    I'm afraid you cannot "opt" out of IR35. Your...

    I'm afraid you cannot "opt" out of IR35. Your status is based upon the real working arrangements and what is stated in your contract. It is advisable to have contract review to ensure you are...
  20. Hello Jeystone It is usual for a director of a...

    Hello Jeystone

    It is usual for a director of a limited company providing services such as you are, to structure the company to pay a low salary (depending on what you have already earned through...
  21. Replies
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    Hi Shakti We use FreeAgent (known as Iris Open...

    Hi Shakti

    We use FreeAgent (known as Iris Open Books when supplied via an accountant) for all of our new clients.


    Regards
    Sally
  22. For which I apologise. I meant that it would be...

    For which I apologise. I meant that it would be wise to determine the IR35 status, as Ltd co inside IR35 returns more than using an Umbrella, but consideration needs to be made as to whether the...
  23. You need to ensure your IR35 status before you...

    You need to ensure your IR35 status before you incorporate a company. Help desk support can (not always) fall inside the rules, so best ask your accountant to check it.
  24. According to HMRC BIM manuals...

    According to HMRC BIM manuals:
  25. Replies
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    2,424

    We often have new clients with poor or terrible...

    We often have new clients with poor or terrible credit history.

    One that proves most successful is to phone and make an appointment with a business advisor at Lloyds TSB. Do not explain anything...
  26. Replies
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    It is proposed from January 2013 that higher rate...

    It is proposed from January 2013 that higher rate tax payers will not be qualify to receive child benefit. It will still be paid, but will be clawed back by self-assessment statement of account or...
  27. Try FreeAgent (http://www.freeagentcentral.com),...

    Try FreeAgent, especially made with the contractor in mind.

    You can open a free 30 day trial account to test drive it.
  28. Replies
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    For a limited company to pay round sum allowances...

    For a limited company to pay round sum allowances it would need to have a dispensation from HMRC to agree the rates, as umbrella companies do.

    That said, foreign travel can be claimed as a round...
  29. Replies
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    Iris Open Books is exactly the same as FreeAgent,...

    Iris Open Books is exactly the same as FreeAgent, name changed since Iris invested in them for accountants use.

    We use this for our clients. The clients have their log in, we have access through...
  30. Replies
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    I'm inclined to agree that Umbrella net pay would...

    I'm inclined to agree that Umbrella net pay would be more around the 60%. Limited company could achieve the 82% mark, possibly, depending on your IR35 status.
  31. Replies
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    Providing that they are expenses incurred to...

    Providing that they are expenses incurred to enable you to perform your work, then, yes they are.
    You would need to declare the income and expenses on your self-assessment tax return.
  32. I made an incorporation at 10am today and...

    I made an incorporation at 10am today and received the incorporation paperwork at 3.45 - companyformations247
  33. If you want to go the Limited company route, you...

    If you want to go the Limited company route, you may have trouble opening a business bank account unless you own a property in the UK, have a personal bank account or you are on an electoral role...
  34. It did, quite recently, which is good news as...

    It did, quite recently, which is good news as many people leave it until the last moment!
  35. I think the post is regarding paying a full years...

    I think the post is regarding paying a full years fees for a set of accounts, not being locked into time periods. The annual fee is usual as the accountant still needs to complete the same work...
  36. You can register on the Government Gateway as an...

    You can register on the Government Gateway as an "organisation" and file a VAT return on the same day. This is one of the few services that doesn't require an activation code.
  37. Replies
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    I would add to Craig's reply that if you take the...

    I would add to Craig's reply that if you take the lower salary and do not pay national insurance contributions (NICs) because they are not due; if you are in the UK state pension system, you WILL...
  38. Replies
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    You may want to have a look at FreeAgent Central....

    You may want to have a look at FreeAgent Central. You pay a monthly fee for use of the software and own the account. You can find an accountant off their "FreeAgent" friendly accountant list that...
  39. Replies
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    My apologies, post edited.

    My apologies, post edited.
  40. Replies
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    They won't because of the risk of them being...

    They won't because of the risk of them being liable for PAYE should you default.

    You would need to check with your Italian agency or end client. Their legislation may be different.

    You should...
  41. Replies
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    Sorry if that was misleading. As per HMRC...

    Sorry if that was misleading.

    As per HMRC

    "Where an agency supplies the services of a person that is not an employee of the agency to another person, it is possible that special rules may apply...
  42. Replies
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    8,840

    So you will be contracting your services to...

    So you will be contracting your services to companies. Some agencies will not engage the services of contractors as self-employed workers.

    You have the choice of working through a limited company...
  43. Replies
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    Hi,and welcome to England. Registering as a...

    Hi,and welcome to England.

    Registering as a sole trader (self-employed) would depend on what type of work you are going to be doing. If you intend to do contract work then you are not able to do...
  44. I think that as your accountant has gone the ESC...

    I think that as your accountant has gone the ESC C16 route to close the company and take a capital distribution to then apply entrepreneurs relief; that the fee is not unfair.

    A standard company...
  45. Replies
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    I would source a couple more contractor...

    I would source a couple more contractor accountants who will be able to provide you with all the advice you need included within a fixed monthly fee. Hourly rates are what most high street...
  46. Replies
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    I would go with who you most feel comfortable...

    I would go with who you most feel comfortable with. Where as an accountant is there to advise you, you as director make the decisions. So, if you are ill advised and follow that advice, t's you HMRC...
  47. Bear in mind; that, if HMRC did deem you inside...

    Bear in mind; that, if HMRC did deem you inside IR35 AND can prove that you didn't take due care and responsibility for finding out your IR35 status, then they can apply up 100% in penalties of the...
  48. Replies
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    I've just written a guide for all our new clients...

    I've just written a guide for all our new clients that covers most expenses and how they are treated. PM your email if you want a copy.
  49. Replies
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    We have a client that joined us and was in a real...

    We have a client that joined us and was in a real mess with VAT, CT and PAYE payments. HMRC negotiated for the client to pay them a monthly amount on account. This has been going on for 18 months...
  50. Replies
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    AND the money becomes the property of the Crown. ...

    AND the money becomes the property of the Crown. It is possible to re-instate a company but it requires legal help and can be very costly.
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