Financial and legal issues affecting IT contractor companies, including IR35.
All about umbrella companies.
How do I get paid? Strange...
27th April 2017, 08:51
For discussions relating to enquiry letters being sent out by HMRC.
ICS EBT Loans - No comment...
Debates on tax, IR35, T&S and the impending zombie apocalypse.
IPSE CC Elections
26th April 2017, 13:36
To discuss the changes to PS contracts that are due later this year.
Dust settles - what happened?
This is my first post - so be kind please!!!
Has anyone here used an online pension manager, like Nutmeg, for a private pension? By this I mean contributing funds straight from a ltd company tax free?
I've met two Independent Financial Advisors who manage pensions for ltd...
Here is a place for those 101's that people seem to forget/not know.
Try and make the title easily searchable.
This thread is stuff that we have learned over the years. But we expect people using this forum to do their own due dilligence - we point them in the right direction, it's for them...
Updated 23 June 2016 - This got out of date so am doing a bit of rehash. I've added any new ones, taken off some that seem to have disappeared and given a nod to some of the Accountants that are actively giving good advice on the forums but don't seem to have been recommended by posters.
OK so it's not so short any more. This information has been compiled based on experience, and expert advice. In response to the numerous emails and PMs I get concerning the fluid and uncertain environment for working in Belgium, I have tried to summarise the issues and pitfalls,...
How many more times....
a) It's about the journey, not the client and not why you are there
b) Go to the known (or anticipated) end date of your current gig.
c) Count back 24 months by the calendar.
d) If between those two dates you have spent less than 40% of your time at that...
This place is going to get swamped very soon, so just to let you all know that you can post about the Public Sector and IR35 changes here:
Public Sector IR35
Any posts regarding PS IR35 will be moved there.
Posters have been turning up indignant that agencies are demanding extra information from them mid-contract.
To which the answer is: suck it up. The Government has legislated that agencies have to collect information and pass it onto them.
The Income Tax (Pay As You Earn)
(Amendment No. 2)...
Welcome to the Loans thread.
To date loan arrangements have been discussed in many threads on CUK, regularly appearing in the BN66 thread diluting that thread and losing the concentration of information to those associated only with loans and not with S58 FA2008. Its time that loans had its own...
Out of interest, has anyone here ever had to actually make a claim on their professional indemnity insurance?
Most of us here seem to have to purchase it because the contract and agency require it, but has anyone actually ever had to use it?
H i There,
I may start my contract work next week very first time and need to set up ltd company,
1) How long does it take to start up a company?
2) In case of not go ahead with my contract can I still keep my company open and file returns by myself.
3) Before my first pay in two weeks can...
So here we are. Possibly the most badly thought out, badly managed legislation ever implemented by HMRC (even including the initial IR35 all those years ago). Also, potentially one of the most catastrophic for the industry.
We've widespread confusion, and apathy across the board from clients,...
I'm disputing an annual invoice for software maintenance - it's the first one I've received, and I reckon they've overcharged me, so I disputed it.
The annual charge for Support is 22% of the purchase cost of the software, and here's how they work it out:
1. Add VAT to the Purchase Cost
I am currently using an umbrella scheme for my contract through a non public sector employer.
Is it still worth switching to a limited company with all the IR35 changes happening?
I'm very pissed off that my other thread about the definition of an "employment intermediary" was locked. Yes, I missed one sentence from the Crunch article about off-payroll, but that does not mean it was a troll topic.
The question is "How can a consultancy firm deduct employee T&S as a...
This question is mainly around what constitutes an "employment intermediary" for purposes of T&S. This article from Crunch indicates that many traditional businesses that would not consider themselves to be "employment intermediaries" are unwittingly caught by the wide definition:
My current client pays a per diem allowance (£40 / day)
Can I claim this as an expense - ie. not included in company profits and therefore not subject to corporation tax?
Does anyone do their own accounts? I use FreeAgent and have an accountant however when thinking about what they do is extracting the data from FreeAgent which I populate and complete vat and Corp tax bills.
Of course there must be a lot more in the background done by the accountant however I...
Question for FA users - I've got to bill some expenses to a client. I see that FA has a "re-bill" option when entering expenses, which you can then add to an invoice with the 'Add Unbilled Expenses' feature. But, the FA support article indicates that each expense is added as a 'one line per...
Does anyone on here have any real life experience of any of the SIPPs on the market that allow commercial property purchase ?
Now don't read anything into this - I've canned my PS role....
However, doesn't mean Im going to turn down a different one. It all depends. After all with this retrospective risk is removed.
So, before April 2017, what expenses can you claim?
Can you claim travel? Or are you just given the...
Been pondering this because of the upcoming VAT changes.
Currently I claim 45p per mile for the first 10,000 business miles. I actually don't do many business miles but I do a lot of personal mileage.
So, my question is this. When claiming VAT on fuel, can I literally just claim VAT every...
I'm planning on shutting down my company shortly - maybe in the next couple of months. The company currently owns a laptop purchased around four years ago which is on its last legs. Would it be frowned upon purchasing another through the company just before shutting down? I would end up selling...
Wonder if you guys could comment on whether the stigma attached to CashPlus (mostly used by people fallen on hard times:violin: or cash intentive/ high transaction count businesses) is too much for Financial Services firms to deal with? Perhaps they will refuse to pay since its not a real bank...
I would appreciate some help here please regarding travel expenses.
Am just about starting my first contract being a permie all these while.
The job is in London and my company house/home is in Edinburgh so I shall be coming travel back to Edinburgh every weekend.
... awaiting accountants response so thought I would post in here for the consensus view...!
So I am looking to buy a house, and I have X amount of money for the deposit. The money sits in my business account, and is what I consider "separate" from the company money. What I mean by that is all...
I'm closing my Ltd next month - one man band contractor, no accountant, trading 10 years.
Current year - income minimal, salary paid out of retained profits so a loss for the year of about £10K
Previous 3 years paid small salary and then pension contributions so Corporation tax was only a few...
Hi there everyone
Apologies if this question has been asked to death, I imagine so anyway but I wanted to get a view on a few things if thats ok.
I have joined a company as an IT contractor and it now a month in. I have an accountant, a registered ltd company and also VAT registered and bank...
I have 100k+ in a limited company that I use for my contracting work. As we all know money in business accounts earns virtually no interest.
I want to invest the money in a property based on the following assumptions:-
- I need to lend some money to the company to purchase the property...
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