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  1. Replies
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    602

    Thanks. At this stage s-e looks the easier...

    Thanks.

    At this stage s-e looks the easier option. If it continues longer term that might be the time to incorporate.

    I shall get him to pay tax to HMRC up front if I can so there is less to...
  2. Replies
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    602

    Self Employed v Ltd Co.

    Son is atc uni. He has a part time job which pays approx 5k.

    He has an opportunity for 40k of media work. Trav/Subsistance will eat about 10k in expenses.

    By my calculations it seems to be...
  3. Replies
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    513

    Uniform yes: cleaning allowance as per HMRC is...

    Uniform yes: cleaning allowance as per HMRC is claimed.

    Take the point on ink etc, claimed 70 for a couple of cartridges and paper and notepads. I am encouraging her about receipts.

    I **think**...
  4. Replies
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    513

    Self Employed tax return

    Partner started being s/e last year. She delivers care services to private clients in the local area.

    So it's tax return time. Obviously I want to minimise tax, but not take the micky.

    The...
  5. Replies
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    562

    Quite a lot of people would probably just resign...

    Quite a lot of people would probably just resign the positions they hold and wait for it to eventually be struck off.
  6. Replies
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    587

    Provided you have actually ceased to be tax...

    Provided you have actually ceased to be tax resident in the uk that should be fine from the uk end. Ceasing to be tax resident may be harder than you think.

    Returnin within 5 yearshas an impact....
  7. From tour deacription your UK company would quite...

    From tour deacription your UK company would quite likely cease to be UK resident.

    Its residency would likely become wherever you are resident.

    Dependant upon what the services are, even though...
  8. Replies
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    1,077

    They also have a 20% corporate withholding where...

    They also have a 20% corporate withholding where the underlying services are provided in Portugal.

    You can get round it by having HMRC write you a letter that you are fully taxed on worldwide...
  9. The printed nI for directors leaflet does explain...

    The printed nI for directors leaflet does explain exactly how to operate ni for directors. Including the various different methods can be used and pay period and pro-rating (the latter being what you...
  10. No it doesnt suggest that at all. The...

    No it doesnt suggest that at all. The contributions are a corporate expense (usually) and are offsetable.
  11. Replies
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    1,270

    Whilst you believe you are not opted out and...

    Whilst you believe you are not opted out and haven't signed anything it is possible you are opted out despite that not being the default.

    There is such a thing as a contrct by performance. There...
  12. You are still just in time to amend 15/16. You...

    You are still just in time to amend 15/16. You can do it through your self asessment account.
  13. I think one of the reasons people explore this...

    I think one of the reasons people explore this sort of arrangement is because they are supplying services to various financial institutions who cannot reclaim the VAT.

    It was rather easier...
  14. You may be correct. The reverse charge can only...

    You may be correct. The reverse charge can only apply if the co does not need to register.

    Notwithstanding that the GibCo may well be UK resident anyway.

    Getting any of it wrong will lead to a...
  15. If you are resident in the UK then you may have a...

    If you are resident in the UK then you may have a few other issues:

    - getting anybody to deal with GibCo may be
    - the seat of control is probably the UK thus GibCo will become UK Tax resident...
  16. Replies
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    1,653

    It may be worth checking that the articles allow...

    It may be worth checking that the articles allow this sort of activity. I imagine they do.

    The practical consequences of breaching the articles are probably nil.
  17. Tax relief on the same money more than once. ...

    Tax relief on the same money more than once.

    E.g. pay 8000 into pension. 2k tax relief added. 10k in it. Take 2.5 lump sum. 7.5k in it. Put the 2.5k back in, 625 tax relief added. The extra 625...
  18. Yes you can with limits. But there are many...

    Yes you can with limits. But there are many recycling rules which will restrict relief in many cases.

    It depends on many things. An intro here.
    ...
  19. Replies
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    509

    Thank you Jessica. This is turning a bit into the...

    Thank you Jessica. This is turning a bit into the curates egg.

    There are elements of both habitual and itinerant into the customer visits. There are perhaps 10 clients overall, some drop off and...
  20. Replies
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    509

    I will check out that tool. Thanks. I do also...

    I will check out that tool. Thanks.

    I do also appreciate that claiming amaps rates and lian intetest does feel counter intuitive.

    I was only basing that possibility on an article i read - and...
  21. Replies
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    509

    Sole trader expenses

    Trying to plan ahead. SWMBO is started self employed. She has one employee (me unpaid part time).

    Trying to navigate the expenses minefield since it is a bit different.

    Typical pattern is that...
  22. Replies
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    TBH a spreadsheet would probably do it. By all...

    TBH a spreadsheet would probably do it. By all means DM it and I'll take a look.

    There are a limited number of invoices expense claims etc.

    I have downloaded GnuCash to have a look at that.
    ...
  23. Replies
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    3,211

    S/employed free accounting software

    Any recommendations. Oh is supplying care services self employed and I get to do the books.

    Anybody use a halfway decent free package ?
  24. Thread: Advertising

    by ASB
    Replies
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    3,874

    Wrong. But in reality probably quite correct with...

    Wrong. But in reality probably quite correct with your underlying but undeclared assumptions.

    The amounts billed are critical. Sure at "normal it contract" rates I would entirely agree. But that...
  25. Thread: Advertising

    by ASB
    Replies
    37
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    3,874

    In terms of 70-90% the question of a reasonable...

    In terms of 70-90% the question of a reasonable amount to keep is looking at it exactly the wrong way. What is the basis of of the mechanism that yields that retention. It is possible it is above...
  26. Replies
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    2,558

    The starting point is the company is marital...

    The starting point is the company is marital property and in the mix for asset split.

    Your ex can request divdends are taken into account if they so wish in the child support process.

    You will...
  27. It appears to be ok. The benefit being received...

    It appears to be ok. The benefit being received will be an annuity which doeant trigger the contribution limit.

    In any even contributions will be just under the limit of 4k per year anyway for the...
  28. Receiving an annuity an contributing to a pension

    Stuffed if I can find out the tax relief rules so hoping somebody can point me to them.

    I am likely in 2 years at 60 to be receiving an annuity from an old s226 policy (an annity is probably the...
  29. Who rented the car. You or the company ? i.e...

    Who rented the car. You or the company ? i.e who's name is on the rental agreement ?

    If yours: then you have simply taken a loan for that amount. Repay it or post it to the dca and sort it out...
  30. Replies
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    5,040

    A minor point on company contributions is to make...

    A minor point on company contributions is to make sure your provider will take company contributions and also that they know any given contribution is a company contribution.
  31. Replies
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    1. She doesn't need a written contract of...

    1. She doesn't need a written contract of employment. Though it might make it easier if challenged. The contract can be written or oral or implied.

    2. Anybody can receive pension contributions....
  32. Replies
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    The accountants uk company advice is tosh. It is...

    The accountants uk company advice is tosh. It is far from a given. Though your particular circumstances could make that advice the right outcome.

    As far as the authorities in italy are concerned...
  33. Thread: notice period

    by ASB
    Replies
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    1,235

    There are times when saying "i plan to breach my...

    There are times when saying "i plan to breach my contract in this specific way" isn't the best way of having a potential defence. Forums are often monitored and posts arw regularly used in legal...
  34. Replies
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    Yes and no. The banks are directly very minor...

    Yes and no.

    The banks are directly very minor players in that market. The vast majority comes from manufacturers captive finance arms. The obvious questio n of course is where their finan e comes...
  35. Replies
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    626

    That will only be a squirrel or two. But website...

    That will only be a squirrel or two. But website talks about a penalty. It is not clear to me though. I recall 5% and that would be annoying.

    Still the 2 payments made are equal to the amount...
  36. Replies
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    626

    Cheers TCP, hopefully the sa account will update...

    Cheers TCP, hopefully the sa account will update before i leave the country again in a couple of weeks where i dont have access to my sa account.

    31/7 is patment deadline so i want to make sure it...
  37. Replies
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    626

    Normally thats what i would do. But my situation...

    Normally thats what i would do. But my situation is changing substantially and i did not want to leave a sum on deposit with hector which will cover my living expenses for a good few months.
  38. Replies
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    Reducing payments on account.

    Last years (15-16) tax return demanded I pay 2k on account jan and 2k july. I.e. a 4k estimate.

    Getting a bit more organised I have done my 16-17 return. The caclulated shortfall is 3k. It wasnt...
  39. Replies
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    2,098

    If you are open, honest, answer questions posed...

    If you are open, honest, answer questions posed with full disclosure then the fora herewill give solid advice.

    https://www.wikivorce.com/divorce/

    If you are not it won't end well.

    If you...
  40. Replies
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    593

    Todays possible darwin award

    Sint Maarten jet engine blast kills New Zealand woman - BBC News

    I was at that beach in January. Its enough when an exec jet is goung up or down.

    The bar has a blackboard outside giving arrival...
  41. Replies
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    2,587

    They are an officer (and exempt feom NMW) in...

    They are an officer (and exempt feom NMW) in their capacity as a director.

    They could also be an employee if they had a contract of employment.
  42. Replies
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    17,397

    I think - but am not certain - that limitation...

    I think - but am not certain - that limitation clock only starts after an attempt is made to get payment. I.e. the event which triggers the debt.

    This is assuming there is no date for repayment...
  43. Replies
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    1,716

    Make sure it is acknowledged as a corporate...

    Make sure it is acknowledged as a corporate contribution.

    Otherwise it will be a personal one, they will claim 20% tax back and it all gets messy unwinding.
  44. https://www.gov.uk/government/consultations/salary...

    https://www.gov.uk/government/consultations/salary-sacrifice-for-the-provision-of-benefits-in-kind
  45. There was an hmrc consultation last august on...

    There was an hmrc consultation last august on salary sacrifice in general. This caused some changes. Hmrc then stated saliry sacrifice on pension would continue to be allowed as employer...
  46. Replies
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    17,397

    Iliketax. I, of course, am completely...

    Iliketax.

    I, of course, am completely unqualified. What i was thinking was that:

    - transfer of liability implies that the employer has undertaken the liability on behalf of the employee by...
  47. Salary sacrifice gives a very real saving since...

    Salary sacrifice gives a very real saving since the money doesn't get charged to ni whice personal contributions from salary will have been.

    In effect double savings since ers ni is saved too. In...
  48. Replies
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    17,397

    I was thinking more about transfer of liabilty....

    I was thinking more about transfer of liabilty. The "normal" case is that remuneration is paid net. Payslip given with deductions and eventually a P60.

    The payment may or may not be made to hmrc....
  49. Replies
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    5,441

    For example the db scheme where i work offers an...

    For example the db scheme where i work offers an additional x% over the actuarial calculated value to encourage transfers to the dc scheme.
  50. Replies
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    If nothing bought:- asset. Cash at bank 50k....

    If nothing bought:-

    asset. Cash at bank 50k.
    Liability. Dca 50k.

    Shareholders funds 0.

    Your implication was that taking a loan magically creates a trading loss. It doesn't.

    Obviously i...
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