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  1. Replies
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    Yes. As people have suggested, ensure you obtain...

    Yes. As people have suggested, ensure you obtain evidence and written confirmation/agreement of your working practices. If the situation was all within the same tax year, HMRC won't be aware of...
  2. Sticky: Could be a whole host of things. What's your...

    Could be a whole host of things. What's your year end? Are you with a high street accountant or contractor specialist?
  3. Sticky: The usual process would be to let them know...

    The usual process would be to let them know you're leaving, agree your final fee and what work they have to complete to the cessation of their service, advise your new accountants and give them...
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    You'll need to register as a Contractor under...

    You'll need to register as a Contractor under CIS. Since you mentioned you get 20% deducted from your work, we'll assume you're already registered as a subcontractor on a deduction rate of Net 20%...
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    Is this response related to purchase orders...

    Is this response related to purchase orders issued by the user of Freeagent to it's client or purchase orders issued by the client and received by the user of Freeagent? May have misread it, but it...
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    Give me a shout if you're stuck

    Give me a shout if you're stuck
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    View or edit a project – FreeAgent...

    View or edit a project – FreeAgent
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    In FA, you can create a Project called Purchase...

    In FA, you can create a Project called Purchase Order (or whatever you want) then set the purchase order amount in the "Budget" part of the "Project". Then when you're raising part invoices toward...
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    There's a function called Projects and allocate...

    There's a function called Projects and allocate sales invoices, expenses etc to it to track your profitability. There's also a function called Estimates so you can send out quotes, have them...
  10. Replies
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    The beer is drying up and I don't want to leave...

    The beer is drying up and I don't want to leave the house :tongue
  11. Replies
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    What if the worker was employed for less than a...

    What if the worker was employed for less than a year? How do you work out the claim?

    Claim the average monthly earnings since they started.
  12. Replies
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    If the employee has been employed for the full 12...

    If the employee has been employed for the full 12 months prior to the claim then you use the higher of either:

    the same month’s earnings from the previous year OR

    average monthly earnings from...
  13. I agree. I just wanted to highlight that it's...

    I agree. I just wanted to highlight that it's per tax year. I usually don't advise anyone to stick it all in one month though.
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    Point me to the thread Scrappy and Scooby will...

    Point me to the thread Scrappy and Scooby will have a looksee.
  15. Replies
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    Make both of you furloughed workers for at least...

    Make both of you furloughed workers for at least 3 months or until you pick up another gig.
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    Not really.

    Not really.
  17. Replies
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    Of course. It's assumed the OP is running...

    Of course.

    It's assumed the OP is running their own biz since they made reference to "put it through the books".
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    Use of home is even going up from £4 a week to £6...

    Use of home is even going up from £4 a week to £6 from 6 April...

    Renting an office is fine unless you've been booted out of home too due to isolation etc. I don't think you're allowed to kip at...
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    I would advise that there are certain risks to...

    I would advise that there are certain risks to income shifting doing this. Whole can of worms.

    As other's have said, depends on contract length and value. Depending on your IR35 status, I'd say...
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    Both my bosses are taking a nap so I have a...

    Both my bosses are taking a nap so I have a little respite for now.
  21. Replies
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    If you have company money then you're not...

    If you have company money then you're not technically "self employed". Self employed are those that run as sole traders without a limited company. Those people can apply for UC. Company savings...
  22. You've got 12 days left before it resets.....chop...

    You've got 12 days left before it resets.....chop chop!
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    Are married. (which is point 1.)

    Are married. (which is point 1.)
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    Dividends do count. It's all based on income. ...

    Dividends do count. It's all based on income. In order to utilise marriage allowance you have to fulfill 3 criteria:

    Married or in a civil partnership
    Not pay income tax or income is below...
  25. It sounds like you jumped the gun and submitted...

    It sounds like you jumped the gun and submitted your DS01 too early (prior to final closure accounts and corporation tax return submitted to HMRC). As the company has been official dissolved, there...
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    Agree with this. It's a legitimate...

    Agree with this. It's a legitimate company/business. Most contractors won't require it though so just notify them if it doesn't apply to you.
  27. Ok, to add something more useful for the OP than...

    Ok, to add something more useful for the OP than some funny comments, you can apply for a discretionary grant from the Bona Vacantia Division which would cover your £750. If the BVD make a...
  28. I'm surprised NW didn't advise your to close the...

    I'm surprised NW didn't advise your to close the company bank account down before the submission of the DS01 unless Companies House struck your company off before you got the chance to submit the...
  29. It can be paid by your company as with all...

    It can be paid by your company as with all things. However, whether it is disallowable for CT or subject to BIK is a different story. For insurances, if the company paid for it, the question would...
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    Ignoring any NIC calculations, the income tax...

    Ignoring any NIC calculations, the income tax would be £400 yes. The CT saving would be £380 so you'd lose £20 which I guess is immaterial. In the OP scenario, if swapping a £2k dividend for a £2k...
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    Let me clarify this for you assuming you have a...

    Let me clarify this for you assuming you have a full personal allowance of £12,500 in this tax year.

    On a salary of £48,000, your income tax bill is £7,100 in this tax year being (£48,000 -...
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    No :tongue

    No :tongue
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    +1 for Maslins too. Always referred Chris due to...

    +1 for Maslins too. Always referred Chris due to positive feedback from my clients. Straightforward and easy service.
  34. WWIBS. Nothing wrong with becoming a director of...

    WWIBS. Nothing wrong with becoming a director of a family business. Sounds like you'd be doing it for commercial reasons. As far as shares go, you may want to look at evaluating the company and...
  35. If you've closed the bank account down, company...

    If you've closed the bank account down, company accounts and corporation tax return submitted to HMRC, tax all agreed and paid up etc (save for your accountant), then I'd suggest just fill out the...
  36. and beer...

    and beer...
  37. Just to add to this thread, I've actually had...

    Just to add to this thread, I've actually had several clients switch the other way from being an annual client where they've just paid me a one off fee at the end of the year to prepare the company...
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    Poll: Been lurking for a while hoping we'd make it up...

    Been lurking for a while hoping we'd make it up north this year but unfortunately it ain't happening. Hopefully next year when sproggy is a year older and can be apart from Clare, we'll attend. We...
  39. Don't need no fancy pants calculator. ...

    Don't need no fancy pants calculator.

    Turnover/Sales/Revenue = A
    Less Expenses = B
    Net Profit = A - B = C
    Corporation Tax @ (whatever rate) = C x CT% = D
    Profit after CT = C - D = E
    ...
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    The only tax case that comes to mind was a few...

    The only tax case that comes to mind was a few years back being The secretary of state for business, innovation and skills vs Knight. In that case, she was MS and sole shareholder claiming...
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    Yes, if any personal tax has been overpaid, it'll...

    Yes, if any personal tax has been overpaid, it'll ultimately come back to you personally (never to your accountant!). It'll be entirely up to you whether to retain the services of an accountant once...
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    Closing process should be straight forward. ...

    Closing process should be straight forward. Profit being less than £25k, as Chris says, no need for the MVL route. You'd have to wait for your debtors to come in. Once they have paid your company,...
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    Tax residency and the effect on your personal tax.

    Tax residency and the effect on your personal tax.
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    Any update on this? Does it appear online for...

    Any update on this? Does it appear online for you now?
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    To claim a refund you can carry the loss back on...

    To claim a refund you can carry the loss back on your CT600 by ticking a box. In terms of bad debt relief, a general bad debt is not allowable for CT relief. However, a specific bad debt is.
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    You're absolutely fine with this. No need to...

    You're absolutely fine with this. No need to worry.
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    If you've set up an limited company then we...

    If you've set up an limited company then we should assume you're a director and shareholder of your company.

    If your limited company has a PAYE scheme (payroll scheme) set up, then we should...
  48. What? You mean your tax software licence,...

    What? You mean your tax software licence, indemnity insurance, staff costs, business running costs and AML procedure costs aren't free? :tongue
  49. There's got to be more to this that what we're...

    There's got to be more to this that what we're told. No way would I be doing an SATR with dividend income and investments for £50.
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    That would be the best way (for your accountant...

    That would be the best way (for your accountant to adjust for it separately). However, if you're dead set on having Freeagent give you a more accurate estimate, the work around that I can see would...
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