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  1. Replies
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    I see only three supplementary concerns: 1....

    I see only three supplementary concerns:

    1. Liability. Ethically, you should compensate the new director something for the risk they are taking. I would argue that if the new director is not in...
  2. Replies
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    552

    If you want to be sure everything is entirely...

    If you want to be sure everything is entirely clean and straightforward, and that you can stop worrying about this, and we can stop reading about it, do this:

    1. Start a new company.
    2. Invest...
  3. You guys act like you are talking to pscont, not...

    You guys act like you are talking to pscont, not zerosum. Maybe you should pull in your horns and read his history.

    He's been a forum member since 2012 and has posted intelligently on...
  4. Replies
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    6,219

    How's that going for you now? It might even be...

    How's that going for you now? It might even be more than 100%, since it's Milwaukee, Wisconsin and Detroit, Michigan. These big city machines will find the dead Democratic voters they need, it goes...
  5. Replies
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    A (Very) Small Light on the Horizon

    Proposition 22 passed in California. Basically it exempts Uber and delivery drivers from their version of IR35. That suggests that it CAN be possible to win the PR battle to achieve some sanity on...
  6. Replies
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    6,219

    Yeah, but that's not really dependable. Because...

    Yeah, but that's not really dependable. Because there are a lot of mail-in ballots that aren't in yet. And in some states, some areas are heavily Trump, others are heavily Biden, and you don't know...
  7. Replies
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    If you want to say this is fact that we should...

    If you want to say this is fact that we should just accept, would you like to provide an authoritative link on that?

    Because CNN is reporting that tens of thousands of mail-in ballots are already...
  8. Replies
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    14,153

    Republicans look to be holding the Senate,...

    Republicans look to be holding the Senate, Democrats the House. That means whichever wins the White House will be limited in how much damage he can do. Probably best we could hope for.
  9. Replies
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    Mate, the tone of responses to this thread...

    Mate, the tone of responses to this thread results from the fact that what you are doing looks like tax avoidance, and you've been vague enough about why you are doing it and what you gain by it that...
  10. Replies
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    Sounds to me like you don't have a lot of margin...

    Sounds to me like you don't have a lot of margin for error to be buying a house.

    You could take dividends to clear an £8K debt but you don't have enough to be able to pay the higher rate tax if...
  11. Assuming your company is owned by you and/or your...

    Assuming your company is owned by you and/or your spouse/partner, it is a closely held company for US tax purposes. If you are materially participating in the company, which I'm sure you are from...
  12. Replies
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    Your pension may be protected, so you may be able...

    Your pension may be protected, so you may be able to protect some of your company assets by making a pension contribution. That, of course, ties up the money to retirement.

    This may be deemed to...
  13. Replies
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    You don't have insurance for this?

    You don't have insurance for this?
  14. Briefly, given the discussion about pension...

    Briefly, given the discussion about pension contributions, be careful of the tax rules in the country to which you move. For example, if you move to the US you might have to pay US tax every year on...
  15. I don't know if this can fly or not but could you...

    I don't know if this can fly or not but could you form a US company which contracts with the client and you be a foreign-based employee of your own US company?

    Or is there a US based employment...
  16. Replies
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    968

    Starling is easy and quick to open, free, and not...

    Starling is easy and quick to open, free, and not a bad bank to use. Unlike Tide it is FSCS protected. Used it for a while now and happy with it.
  17. Replies
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    I had a £15 pound expense which for reasons I...

    I had a £15 pound expense which for reasons I forget, I paid personally, just before the end of my company year. The expense was properly reported in that year as an expense and a directors loan.
    ...
  18. Replies
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    1,193

    If you have a good paper trail that 1) they...

    If you have a good paper trail that 1) they messed up (and therefore your mistake is understandable) and 2) you've paid everything you are supposed to pay then it's hard to see how you could have...
  19. Replies
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    Here's another option. 1. Operate the new...

    Here's another option.

    1. Operate the new contract inside IR35, and attribute your salary and pension contributions to it to mitigate the tax.
    2. Keep all your evidence that the prior contract...
  20. Replies
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    1,094

    EIM30295 - Employment Income Manual - HMRC...

    EIM30295 - Employment Income Manual - HMRC internal manual - GOV.UK
    It states that you can pay both subsistence and incidental overnight expenses.

    More on incidental overnight expenses:
    exempt...
  21. If you are looking to undercut ContractorUK, they...

    If you are looking to undercut ContractorUK, they won't appreciate you posting here. :D
  22. Replies
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    Clue #1 (addressed to a known contractor) Clue...

    Clue #1 (addressed to a known contractor)

    Clue #2

    One wonders what those clues might have told you. ;)

    More substantively, there's no way I'd do this for free, but I don't have to. I...
  23. Thread: R&D Relief?

    by WordIsBond
    Replies
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    1,214

    Or maybe they don't actually know how to answer...

    Or maybe they don't actually know how to answer the question as given.

    In this case, it's more that some were of the view that the question as given might be moot, which in my view is a legitimate...
  24. Replies
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    1,934

    And you want to do submit to SDC and allow the...

    And you want to do submit to SDC and allow the client to assign you a task that isn't in the contract, and even do it for free, right at the beginning.

    NCOTBAC. :p

    OP, I'd definitely charge for...
  25. Thread: R&D Relief?

    by WordIsBond
    Replies
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    1,214

    This sounds very much like R&D. A lot of...

    This sounds very much like R&D. A lot of discussion in this thread, first page or two might not be that useful to you but it gets better: ...
  26. Thread: R&D Relief?

    by WordIsBond
    Replies
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    1,214

    This is pretty stupid even by your standards. ...

    This is pretty stupid even by your standards. I've made multiple R&D claims and HMRC never said, "No, no, it's only for bid donor companies."

    They are LOOKING for better takeup of the credit. ...
  27. Replies
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    FWIW, BBC is reporting today that the banks are...

    FWIW, BBC is reporting today that the banks are trying to push the recovery issue off onto the government.


    Banks urge 'student loans style' plan to avoid job cuts - BBC News
  28. Replies
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    For decades, contractors have done a gig with...

    For decades, contractors have done a gig with clients, clients have liked their work, and offered them a perm role. That in itself is no great risk.

    If the perm role is identical in work, working...
  29. Replies
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    So if I understand correctly, the agency doesn't...

    So if I understand correctly, the agency doesn't want you to have substitution, but will accept it if there's a penalty.

    So why not just accept it with the penalty? That's actually a reasonable...
  30. Replies
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    Have done this a lot of times both in America and...

    Have done this a lot of times both in America and on the continent. My wife has done it here, and her family when they come here.

    Have to say there's a lot of sympathy in our family for Ms...
  31. Replies
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    Company has to pay tax based on a deemed payment....

    Company has to pay tax based on a deemed payment. What the company does with the rest of the money is the company's business.

    If the company chooses to pay the worker a higher salary than the...
  32. Thread: IR35 + MVL

    by WordIsBond
    Replies
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    604

    You could, of course, just decide to stay brolly...

    You could, of course, just decide to stay brolly for a couple years. Depending on how much you have within your company it might be worth considering.

    Especially since outside roles are likely to...
  33. David Treitel. American Tax Returns - US and...

    David Treitel.

    American Tax Returns - US and UK Tax Experts Tel: 020 8946 0523
  34. Replies
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    1. Friday-Monday is not automatically inside. ...

    1. Friday-Monday is not automatically inside.

    2. Technically it's not Friday-Monday because the company OP was working for on Friday will not be in existence in Monday and OP will be contracting...
  35. Replies
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    1,332

    Technically, this is accurate. Practically,...

    Technically, this is accurate. Practically, they'll say nothing has changed, if he's ever investigated. Still doing the same work, essentially for the same people.

    As you said, there will be no...
  36. 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...
  37. Replies
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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.
  38. 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...
  39. Replies
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    3,048

    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...
  40. Replies
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    Unnecessarily restrictive.

    Unnecessarily restrictive.
  41. Replies
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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...
  42. 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...
  43. 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...
  44. Replies
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    5,489

    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...
  45. 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
  46. Replies
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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...
  47. Replies
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    3,646

    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
  48. Replies
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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...
  49. 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...
  50. 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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