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Type: Posts; User: MikhailCompo

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    What about if I had not taken a dividend for...

    What about if I had not taken a dividend for longer than i normally would have, so in effect I had delayed paying a dividend simply because I did not know what the rules were.

    So now I am better...
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    2) I got the laptop in April but some types of IT...

    2) I got the laptop in April but some types of IT kit appear to be written off after a year and other things three years judging by my accountants software. What/where are the rules on writing off...
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    Why do you say 2 years. Is that a financial...

    Why do you say 2 years. Is that a financial consideration regarding my company or tax/entrepreneurs relief related?
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    Standard email after standard email, sent be an...

    Standard email after standard email, sent be an account manager, I never communicate with a qualified accountant, NONE of the emails have addressed my specific questions.

    If i complain on social...
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    How to Close Down My Ltd

    So my FTSE250 client offered me a decent package to convert to permie as they're binning all contractors before Feb 2020, so I have taken the plunge.

    Can anyone clarify the following points for...
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    Expenses When Staying Away from Home

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  14. No, std scheme

    No, std scheme
  15. By fix it, do you mean reclaim all the money I...

    By fix it, do you mean reclaim all the money I should have saved through the VAT calculations?
  16. Claiming VAT Back on Accountancy Charges

    Whenever I am charged my monthly accountancy fee, the accountancy system automatically adjusts it to except. Therefore I never reclaim VAT on those charges.

    This is despite the charges listed on...
  17. Thread: Losses

    by MikhailCompo
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    1,918

    whats dunning? Is it like a P45 script, that...

    whats dunning?

    Is it like a P45 script, that all IT contractors have ready and waiting in case they get shat on, they can run and then leg it?

    Lets hope it self-deletes so i'm insured huh!
  18. Thread: Losses

    by MikhailCompo
    Replies
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    1,918

    To clarify, I am not asking for advise on how I...

    To clarify, I am not asking for advise on how I can recover this money, purely from a accounting perspective.


    So the agreement was two days travel @ std rate and the 4 days work was supposed to...
  19. Thread: Losses

    by MikhailCompo
    Replies
    15
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    1,918

    Losses

    I was advised i would be paid at a higher rate for a weeks work which was at a different destination to my normal contract, all the other people attendind received this same percentage uplift.
    ...
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    I think it's useful as two other users have...

    I think it's useful as two other users have commented saying that their requested HMRC dates have not been honered which is significant as the VAT changes mean many will be leaving FRS .

    But it's...
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    Moderator request

    Hi. Can I have a moderators username so I can PM them pls.

    I would like to change a thread title which names an accountant firm which eventually transpired was HMRC at fault

    The thread is...
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    Is it reasonable to expect an accountant to...

    Is it reasonable to expect an accountant to follow up on a requested date from HRMC and ensure their request is actioned correctly? Or have I misunderstood what you have written?

    That does not...
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    This wasn't entirely without previous, although...

    This wasn't entirely without previous, although the previous could be considered the way HMRC legislation was interpreted...... I was going to link that thread here but I was careful not to name them...
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    Thanks to everyone who responded with advice. ...

    Thanks to everyone who responded with advice.

    Firstly: the power of ContactorUK forum:

    my accountant phoned me (this has never happened) shortly after i postwed this thread. Nice call to say...
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    HMRC VAT FRS Cockup

    So annoyed about this. This is the second time i have had dubious or inaccurate advice from my accountant regarding VAT.

    I specifically clarified with them the date with which I would be moved to...
  26. Thanks for responding, I am after feedback like...

    Thanks for responding, I am after feedback like this.

    I'm 7 months into an 18 month contract.

    I don't work in this industry just for the money, I genuinely love creating smart and efficient...
  27. Leaving a Contract Early, Anything I need to be Aware Of?

    My current contract is a bit tulip, anything I need to be aware of before I get another and leave? I was encouraged to opt out so I did, this is my first contract.

    Basically, there is not enough...
  28. I don't know what you mean by this? What better...

    I don't know what you mean by this? What better FRS rate? You get an additional 1% for your first year of trading, but the % various depending on your business area e.g IT is 14.5% or 13.5% first...
  29. Thanks, this is really well explained I think. ...

    Thanks, this is really well explained I think.

    If you take into account that I need to make some asset purchases, i think my VAT spend would exceed my VAT FRS income. I would make the purchases...
  30. I have to spend over 2k to get VAT back on FRS....

    I have to spend over 2k to get VAT back on FRS. Moving off FRS means I am saving 20% of each purchase compared to buying the privately.

    20% is a significant saving in my view.

    That's where I am...
  31. In which way?

    In which way?
  32. I got my first contract agreed before I left my...

    I got my first contract agreed before I left my previous permanent job, and it was an 18 month contract, they were happy for me to wait for my notice period too. In retrospect I was extremely jammy...
  33. Yes I work in IT and my accountant has...

    Yes I work in IT and my accountant has recommended I move off the FRS for next fin year, therefore I will be able to recaim VAT on expenses no?

    If yes, that is a significant saving I think.

    And...
  34. One of the issues to get my head around, and this...

    One of the issues to get my head around, and this applies to most IT contractors i am sure, is that when i sit about at a weekend, dicking around with servers etc. it seems like a hobby.

    However,...
  35. Sorry, should have added - My account is...

    Sorry, should have added - My account is EXTREMELY hesitant to even suggest claiming on anything it seems. Seems they don't want to be blamed if it's inaccurate advice/HMRC changing their tune.
  36. Moving/Doing Up Home Office, Expenses Questions

    Q1) So I had an office, then turned it into a bedroom whilst i was a permi

    Now finished that room, and turning the bedroom into an office (and dressing room for her...... pah...)

    I need a desk,...
  37. Selfish attitude, well done. Must be an...

    Selfish attitude, well done.

    Must be an annoying inconvenience stepping over the increasing number of homeless people.
  38. This is purely confidence, i am very rarely in...

    This is purely confidence, i am very rarely in contact with an accountant, I always deal with an account manager who doesnt inspire me.

    If they have made a mistake I want them to refund a months...
  39. Company formed in August, VAT and FRS reg date is...

    Company formed in August, VAT and FRS reg date is 25/09/16. So the printer (used for work only of course :wink ) was purchased pre-registration date.

    The quibble is purely that the pre...
  40. So this is the response when I have asked an...

    So this is the response when I have asked an accountant to look into my claim that the VAT return didn't deduct pre-registration expenses:




    As for the comment " cannot see any transactions...
  41. Do you guys really work in the same team/company,...

    Do you guys really work in the same team/company, or is this comment just in jest?
  42. Hi Michael Can I ask why you have said this? :)

    Hi Michael

    Can I ask why you have said this? :)
  43. Accountants Debate: Can a New Business on FRS Reclaim Pre-Registration Expenses

    Can a new business, whose VAT reg date coincides with the FRS reg date, claim pre-registration expenses that are under £2k?

    My accountants account manager (i.e. not an accountant) says no, as I...
  44. To answer previous questions, yes the client will...

    To answer previous questions, yes the client will pay the expenses, so I send my client-approved claim form to the agency, who reimburse me directly.




    I am on FRS so how does this affect me...
  45. Expenses Claimed Back via Agency When Using Self-Billing

    Hi

    I am using an agency that has a self-billing setup with the end client.

    Last weekend I worked away all weekend with 14 hours traveling in total (rented car). I have £350 or so of expenses,...
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