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  1. #1

    Nervous Newbie


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    Default Difficulty with payment into my Ltd Co account

    Hi from a newbie!

    I have been working as an online tutor/marker for a training company for three months. The agreement is for self-employed, freelance.... I advised them on my induction day that I worked through a small Ltd Co and they were fine with that. After non-receipt of payment due, I queried with their finance department, who now tell me that they cannot pay my Ltd Co due to some clause with the colleges about contracting with private companies (!?) so I must provide them with my personal bank details. This was not mentioned before and is not explicit in any formal agreement I have with them. I have no desire to go through the whole self assessment rigmarole for this pretty paltry amount of money.... any advice on what to do?

    Thanks in advance

    GT

  2. #2

    Respect my authoritah!

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    Is the contract with you or with your ltd. company? As a director of a ltd. company, I seem to recall you have to go through self-assessment anyway.
    You won. Get over it.

    --drunk on abuse of power--

  3. #3

    My post count is Majestic

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    Quote Originally Posted by GinnyT View Post
    Hi from a newbie!

    I have been working as an online tutor/marker for a training company for three months. The agreement is for self-employed, freelance.... I advised them on my induction day that I worked through a small Ltd Co and they were fine with that. After non-receipt of payment due, I queried with their finance department, who now tell me that they cannot pay my Ltd Co due to some clause with the colleges about contracting with private companies (!?) so I must provide them with my personal bank details. This was not mentioned before and is not explicit in any formal agreement I have with them. I have no desire to go through the whole self assessment rigmarole for this pretty paltry amount of money.... any advice on what to do?

    Thanks in advance

    GT
    They offered you freelance but you've advised on induction day you are changing the model. It's a bit late at that point. Who exactly did you advise? The finance people or the people giving you your induction?

    I'm not surprised they've got an issue with it as they would have a whole different process for engaging with a business than a freelancer. Most companies do and PS is a nightmare.

    Sounds like you've changed the goal posts at the wrong time and have not communicated this to the right people so you are stuck.

    NAT's question is very key.
    'CUK forum personality of 2011' - Winner - Yes really!!!!

  4. #4
    eek
    eek is offline

    bored now

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    Quote Originally Posted by NotAllThere View Post
    Is the contract with you or with your ltd. company? As a director of a ltd. company, I seem to recall you have to go through self-assessment anyway.
    No you don't. You only need to provide a tax return if
    1. HMRC ask you to
    2. you actually need to pay HMRC money
    3. wish to carry a trading loss forward....

    This means that there are people who only need to submit a self assessment form from 2016/17 onwards due to the dividend tax changes....
    merely at clientco for the entertainment

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