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  1. The residence you rent in the UK would become...

    The residence you rent in the UK would become your primary residence for UK tax purposes and as such the rent would not be an allowable expense for the company as it would if your family home was in...
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    Yes that is correct and there will be some...

    Yes that is correct and there will be some business expenses that reduce the 5% for you such as accountancy fees and insurance.
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    Scanned copies are sufficient so long as you can...

    Scanned copies are sufficient so long as you can read all of the amounts dates and VAT registration numbers if applicable.
  4. HMRC guidance

    HMRC make a special mention of not allowing claims for proprietors where it brings into place a recognised qualification such as a masters.

    Please see last paragraph of link:...
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    If you were to pay for the op via the company I...

    If you were to pay for the op via the company I would expect it to be classed as a benefit in kind at present based on the information provided.
    In which case both you personally and the company...
  6. Yes in effect you pay 7.5% on 27k of dividends...

    Yes in effect you pay 7.5% on 27k of dividends with the other 5k being tax free.
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    The thresholds are based on a rolling 12 month...

    The thresholds are based on a rolling 12 month period.

    Once on the scheme the higher threshold applies so if you are unsure go below 150 and then if it's slightly higher it won't be an issue as...
  8. Unless your business is the business of driving...

    Unless your business is the business of driving such as a taxi, vat would not be reclaimable on the purchase.

    If tge car is also kept overnight at a private residence a BIK should apply in most...
  9. As the company is not receiving tax relief on the...

    As the company is not receiving tax relief on the expense and I don't believe they would have the cover of the company was removed from the equation I would not include it on a P11d, although I know...
  10. Yes it can be a company expense, however it is...

    Yes it can be a company expense, however it is not allowable for Corporation tax so won't save your company any tax.

    Personally you will likely be better off paying via the company due to the...
  11. The tax due on the dividends will be declared on...

    The tax due on the dividends will be declared on your self assessment and then paid by the end of the following January in full.

    HMRC have amended tax codes in some cases for the expected tax due...
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    Do you personally own the property and receive...

    Do you personally own the property and receive the £350 a month or are the payments to a seperate company?
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    Something seems a bit if here. Why would you pay...

    Something seems a bit if here. Why would you pay £350 a month for a registered office address if not used as an actual office or for living purposes?
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    Yea there is no issues with this. You simply...

    Yea there is no issues with this. You simply repay yourself as and when required.
  15. The 500 would be an expense for the company in...

    The 500 would be an expense for the company in full when on the frs for vat.

    This then decreases the company profit and the amount of corporation tax you pay.

    It would not decrease your...
  16. Check the reference numbers on the letter as they...

    Check the reference numbers on the letter as they may have a duplicated paye scheme for you.

    Alternatively they may have either not processed the rti correctly or duplicated it.

    A call to the...
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    No I would not be recommending this. As a...

    No I would not be recommending this.
    As a director you are not subject to the minimum wage regulations.
  18. Sticky: If you are a contractor I personally feel Xero...

    If you are a contractor I personally feel Xero would be a bit overkill for your requirements as it is more suited to small businesses and those that carry stock.

    Freeagent would be more suitable...
  19. Seems a bit cheeky but could be the reason they...

    Seems a bit cheeky but could be the reason they are staying for a general increase in fees to be charged.

    If, however is simply a one off fee for tax planning and you normally pay a set monthly...
  20. They are the rules for self employed not...

    They are the rules for self employed not employees.

    https://www.gov.uk/tax-relief-for-employees/working-at-home

    Use his link instead
  21. This should all be possible as you pay annually,...

    This should all be possible as you pay annually, you will only get a bill for your time to date and then a bill possibly from the new accountants when they complete your 2015/16 accounts for you.
  22. The worst I have seen so far is a k3600 so far.

    The worst I have seen so far is a k3600 so far.
  23. Generally speaking I would say at your company...

    Generally speaking I would say at your company year end.

    If however you have reason to move due to poor service or similar reasons the sooner the better.

    This is due to a lot of accountnay...
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    To claim relief at 40% your gross earnings have...

    To claim relief at 40% your gross earnings have to be within the 40% tax bracket.

    This is due to the gross pension contributions increasing your basic rate tax band by the amount if the...
  25. As you have the 5% allowance for expenses if you...

    As you have the 5% allowance for expenses if you have a high day rate it is still possible to make a profit from this amount.

    You would also have a Corporation Tax payment on this profit too.
  26. There should be a reason stated for the 0t tax...

    There should be a reason stated for the 0t tax code and I expect they belive your income to be 122k or more in the tax year.
  27. A review should be possible but you will need to...

    A review should be possible but you will need to provide the records for comparison.

    You are unlikely to retrospectively change the accounts though if you have not been as tax efficient as...
  28. If caught by IR35 you would not be able to claim...

    If caught by IR35 you would not be able to claim for your travel costs as of April 2016.

    Prior to this you could offset the expenses.

    Also as the others have said you can claim travel for the...
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    As a director you get the annual allowance up...

    As a director you get the annual allowance up front against your income and only start paying NI once your income exceeds the allowance.

    This is why if paying the personal allowance as a salary NI...
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    You would charge the 35p a mile on your invoice...

    You would charge the 35p a mile on your invoice to the client.
    Your personal claim to your ltd company can then be at 45p per mile which is the hmrc allowable rate.

    The two transactions are...
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    A house would make the company an investment...

    A house would make the company an investment company and therefore ER could not be applied when closing the company.

    Cost on improvements would be capital and of set when selling not against...
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    No the change will be from the date of the share...

    No the change will be from the date of the share transfer.

    I.e. 6k each if 12k paid now.
  33. This is common for company bank accounts, if you...

    This is common for company bank accounts, if you use the same reference for multiple payments it will be fine.
  34. You would be improving a personal asset and as...

    You would be improving a personal asset and as such would not be allowable in my opinion.

    Not wanting to sell the property anytime soon has no impact as you could potentially remortgage or...
  35. Yes, you can purchase the computer equipment...

    Yes, you can purchase the computer equipment prior to forming the company and where applicable reclaim the VAT as well.

    If bought prior to incorporation there is no company name to have purchase...
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    You are not self employed as you were an employee...

    You are not self employed as you were an employee of your ltd company.

    IR35 is seperately to this and will depend on contract and working practices.
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    If you have a physical cost incurred you can...

    If you have a physical cost incurred you can claim relief for this expense. You just cannot charge or make a claim for your time.
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    The above would be called volunteering and...

    The above would be called volunteering and therefore no tax relief is available for giving your time to either your company or on your personal tax return.
  39. You will need to contact HMRC time to pay...

    You will need to contact HMRC time to pay department and hope to speak to someone sympathetic to your reasons for being unable to meet your liabilities.

    From experience the Corporation Tax office...
  40. I would say no as it would fail the wholy,...

    I would say no as it would fail the wholy, exclusively and necessarily test, due to being available for personal use.
  41. Covered by the mileage allowance already.

    Covered by the mileage allowance already.
  42. A number of accountants including myself provide...

    A number of accountants including myself provide both services.

    Qdos started offering accountancy services a few years ago.
  43. No its an error and happens surprisingly often. ...

    No its an error and happens surprisingly often.

    One needs to be cancelled and shut down and can be dealt with by a phone call to hmrc usually.
  44. If its a new VAT registration yes the discount...

    If its a new VAT registration yes the discount would apply.

    Reapplying for the FRS on an existing vat registration would not apply.
  45. Spousal exemption means you can make her a...

    Spousal exemption means you can make her a shareholder and if she is doing work for the company, you can pay her a salary.

    Another thread on the subject can be found here:...
  46. 50/50 split would be fine if married due to...

    50/50 split would be fine if married due to spousal gift exemptions.
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    Will depend on the level of assistance your...

    Will depend on the level of assistance your looking for but I would expect something similar to what has been suggested already by others in the £600+ range.

    Money in a personal account is an...
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    Just a quick warning If you are planning on...

    Just a quick warning
    If you are planning on submitting yourself via the HMRC website, you will need to activate your Corporation tax online to do so and this will take around a week for the...
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    I'm guessing based on the above not VAT...

    I'm guessing based on the above not VAT registered.

    An online system such as freeagent would be useful as you can import the bank statements saving you some time if you want to do it all yourself....
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    That is not the case in the question though as he...

    That is not the case in the question though as he has not sourced an employee from Greece, he is the director (assumed from question) and therefore signed the company up for the contract in the UK...
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