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Type: Posts; User: Yuri F

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    Don't forget that Express edition comes without...

    Don't forget that Express edition comes without "SQL Server Agent" for running scheduled jobs (but Windows Task Scheduler with SQL_Scripts/PowerShell still does an excellent work) and has a...
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    Microsoft 365 Personal / not for business...

    Microsoft 365 Personal / not for business (£60/year) - does include apps to use off-line.
    as mentioned by others - online-only version is free (with some limitations, but mostly insignificant...
  3. thanks, googled it, will keep me busy for a...

    thanks, googled it, will keep me busy for a while.

    cool down guys, not everyone is pro like you,
    I do understand you've been through all of it already and it might seem boring and repetitive to...
  4. That's not sort of advice I've asked for. But...

    That's not sort of advice I've asked for.
    But yes - great idea, already calling my bank to remortgage house and my parents property too (they've agreed in 5 mins)
    was just on a call with my share...
  5. Avoiding Directors Loan exposure via intermediate not related Ltd above 10K threshold

    Would it be safe from taxation perspective if
    Ltd "A" (where beneficiary "D" is sole director/shareholder/employee)
    issues loan to another non-related Ltd "B"
    and legal entity "B" lends to "D" ?...
  6. Thanks guys for warnings and pointers/hints, we...

    Thanks guys for warnings and pointers/hints, we (Ltd) do have other convertible assets (not only hypothetical AR, one of exmpl.: today is expected arrival of another 5K for short project, so fingers...
  7. Wow, thank you TheCyclingProgrammer, that's...

    Wow, thank you TheCyclingProgrammer, that's fantastic news, will arrange transfer tomorrow then.
    with all this VAT (and some other, incl. personal IT/CGT via SA) taxes deferral by HMRC
    was thinking...
  8. Director's loan short-term issued after 6Apr closed in Aug, Accnt year closes in Sep

    Thinking about taking short-term loan from my Ltd (sole director/shareholder).
    New tax year already started (6th-Apr-2020)
    Ltd Accounting year ends in September (2020).
    Say basic amount for...
  9. Thread: More good news

    by Yuri F
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    How is it good news? With more tests we will have...

    How is it good news? With more tests we will have more confirmed cases, let's stop testing to drive statistics down.
  10. ohh, so confusing, depends then..

    ohh, so confusing, depends then..
  11. ..or liability?

    ..or liability?
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    I'm on it, updated, restarted, everything works...

    I'm on it, updated, restarted, everything works as expected, although haven't submitted anything yet {EPS/FPS}
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    Paralytic, I do understand that most contractors...

    Paralytic, I do understand that most contractors have knowledge on how it works, the triggering tipping point was successfully trolled-in by vwdan with 20K+ difference in net financial result..
    ...
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    not really just me - most of professionals I'm in...

    not really just me - most of professionals I'm in long business contact with do the same, I've asked this question about 10 years ago and from those who shared some info - was initially a bit...
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    P.S. in short - difference is in instead of...

    P.S. in short - difference is in instead of asking question "how to pay?" focus for efficiency should be on "when to pay?" (and in a way - how much)..

    that's why we do have all this hassle every...
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    [QUOTE=vwdan;2760459]Why don't you write it down...

    My question was where is a deviation (with many here running Co/Ltd-s and being accountants?) between my and your calculations? What tax category you disagree with?

    Because pointers are...
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    Single director, no schemes, all clean /...

    Single director, no schemes, all clean / transparent, all variables openly given on prev. pages.. IDK where your theories are coming from, so many participants here have a very strange imagination.....
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    WTFH - I don't see a point of this polemics...

    WTFH - I don't see a point of this polemics without proof that any of my tax numbers
    (already given before, from CT, to IT{inc. div} and NI) are wrong, everyone is just generalizing so far...
    ...
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    Again - beauty of human mind to interpret reality...

    Again - beauty of human mind to interpret reality around us in a worst possible way. If you search for rudeness everywhere you might see it (even if it's not there)..

    20+yrs, taking my hat off to...
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    Not mine either, but nobody cancels SLA's,...

    Not mine either, but nobody cancels SLA's,
    that's a big difference between contractor/business and permanent, entrepreneurship and level of responsibilities for outcomes is distinction between...
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    Ohh, sorry, I'm almost forgot it's forum for...

    Ohh, sorry, I'm almost forgot it's forum for poetry and literature contractors, apologies for that mr. grammar patrol.
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    WTFH - my company provides professional business...

    WTFH - my company provides professional business services in agreed amount delivering agreed results in agreed quality and receives agreed payment for it
    (how to do it - working full day or not - is...
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    WTFH - my company does (and invoices client), me...

    WTFH - my company does (and invoices client), me - not necessarily.

    I wonder why do I have to explain bare basics? Is it really rocket science here?

    Looking at perception of range of opponents...
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    LondonManc - it's only flat VAT scheme, nothing...

    LondonManc - it's only flat VAT scheme, nothing else
    (as mentioned in calcs. previously with 1K cap. expenses)
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    fidot - previous page, total revenues, days and...

    fidot - previous page, total revenues, days and how much on each (business/personal) tax category (except for CGT, just brought it in by association, should be just div.)
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    WTFH - unsubstantiated/unsupported claims so far,...

    WTFH - unsubstantiated/unsupported claims so far, my calcs are on prev. page.
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    LondonManc - yes, offer by HMRC, as for working...

    LondonManc - yes, offer by HMRC, as for working days - all discussed on prev. page,
    I'm going with 252 working days this year (Y2020), my £5m insurance/office/accounting cost me £500~£700 a year...
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    Hmm, may be, but £52K net (£75K perm) vs £89K...

    Hmm, may be, but £52K net (£75K perm) vs £89K (£450/day Ltd) gives you difference of £37K (or +70%), a bit diff. for Scotland' "north"
    Not sure weighting/rent/month-off-holiday/stability are...
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    All I was saying - it's not equal {there's...

    All I was saying - it's not equal {there's significant difference} financially as was suggested by someone else
    (as it turns out - someone doesn't know the math {evidence on prev page}),

    So not...
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    As you've seen from 1K expenses - I'm on a...

    As you've seen from 1K expenses - I'm on a different VAT scheme (low cost service business), so actually have some gain on it adding to company profits (taxable).
    (and we're not talking about VAT on...
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    Yep, that's a key point here, a big "if" .....

    Yep, that's a key point here, a big "if" .. sacrifices are inevitable.
    listentotaxman is my favorite too.
    I've taken 252 working days in 2020, you're referring to 240, 10 days is not a big...
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    Yes, I'm getting a lot of calls offering...

    Yes, I'm getting a lot of calls offering £75-100-120K a year and obviously just politely sending them all into the void.. (p.s. my rates are well above £450)
    We can't expect agents to know finances...
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    I'll have to strongly disagree, purely from...

    I'll have to strongly disagree,
    purely from financial standpoint £450/day (+VAT) via Ltd with proper tax handling
    (as net financial outcome - after tax {Corp+Income} income to personal bank...
  34. Depends who initiates change of these terms,...

    Depends who initiates change of these terms,
    There's a chain: Client-Agent, Agent-Supplier

    If Client-Agent payment terms is: weekly, but Agent-Supplier forces to monthly - then something smells...
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    For the same purely technical net financial...

    For the same purely technical net financial result on annual basis (assuming 252 working days, 14K gross salary as director, 1K expenses, flat VAT) equivalent not in scope contracting rates are:...
  36. Well, thanks for tip, it looks like it's almost...

    Well, thanks for tip, it looks like it's almost toasted then.. in this case as pointed by cojak - not yet "abandon hopes all .." situation based on
    bona vacantia and company restoration
  37. My last one was paid week ago without delays...

    My last one was paid week ago without delays (monthly payment cycle).
    Remaining part (2 weeks) seems to be relatively low risk (contract ended on Apr-1st).

    Most of previous contracts were running...
  38. northernladuk - Isn't it just sitting with...

    northernladuk - Isn't it just sitting with commercial bank your account is hosted by? In this case it's quite a long way between benefiting someone else pocket and country (not to mention gov...
  39. There's VAT deferral program, also Corp Tax due...

    There's VAT deferral program, also Corp Tax due date will take a months, therefore if you're sure about some future revenues (contract+ payment reliability {there are some risks because of new-world...
  40. Iliketax - thank you for pointing this out,...

    Iliketax - thank you for pointing this out, something I didn't knew, yeah - in this case looks all the hustle was for nothing (transactional loses are minimal anyway) - no gains, no loses.
    Maximum I...
  41. Thanks guys, I think I'm getting it now, CG is...

    Thanks guys, I think I'm getting it now, CG is part of SA nonetheless isn't part of IT and is taxed separately on a flat rate (net allowance) independently on IT band.
    Not a day trading, just casual...
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    Business relations normally imply much higher...

    Business relations normally imply much higher risks and less rights
    I personally tend to push into immediate termination by client
    and longer termination by my ltd (supplier).
    More unfair balance...
  43. eek - interesting philosophical view yet HMRC...

    eek - interesting philosophical view
    yet HMRC related questions imply a bit more substantiated answers, in deterministic form..

    Anyway, managed to find one position with relatively high liquidity...
  44. Since it's not related directly to your business...

    Since it's not related directly to your business activity - HMRC guidance on "benefits in kind" hasn't changed much in this extraordinary environment,
    you will have to pay income tax and NI on such...
  45. In what order income is taxed: Salary,Interest,Dividend,CapitalGain

    Hello all,

    My situation:
    Last day in this tax year left, trying to optimize before SA is locked down, having some excess over expensive threshold tax band and then only available flexibility to...
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