Forum: Accounting / Legal

Hi Just binned my old accountant for a new one. The new one have advised me against paying my wife a salary something which my old accountant advised me to do. Any advice? or Thoughts? thanks

I was contracting at end clients using my limited company but I have now changed jobs and I'm being paid under PAYE through the recruitment company. My limited company was managed by PAYSTREAM (they charged me £180 a month for them doing very little )I was told it costs £300 to close my limited...

I work in IT permanent staff with a company for many years. A significant portion of the business is being sold and staff tuped. I am retiring prior to the tupe. There has been a discussion about me contracting in the future, perhaps near future. I am likely to fall inside IR35? I have never...

I am looking to hire a subcontractor for some freelance work. He's from Italy but moving to France and is confused about his tax requirements. I know it isn't my problem but I thought I'd ask to help him out. Anyone got any pertinent experience? He is likely to be working a fair amount but still...

Hi, I understand expenses cannot be claimed as tax deductible for public sector ir35, is this the same for private sector? I'm considering a temporary contract which will incur significant unavoidable expenses (travel, subsistence, accommodation) as it's a long way from my home, probably about...

Hello, A bit of background info; I'm a contractor working through an agency, and they pay an umbrella company. I'm an employee of the umbrella. The umbrella payroll dept made a mistake. They've put a number of weeks though in one tax week so the paycheque is smaller than it should be...

I bought a flat in February as an investment. As a result I spent some money to make it and renovate it. However I couldnt rent it out before tax year's end. When I fill SA form I will only list the expenses.which will result in a loss. This year I will be in profit. Can I do something with the...

Hello, I want to hire/outsource to a foreign self employed person with their business registered in a EU country and the person doing the work from their country. I want the person to help my LTD with some training and some admin work. I am wondering now when I pay for such services to my LTD...

Hi all, looking for some thoughts on this please. I've searched and found one relevant previous thread https://forums.contractoruk.com/business-contracts/123782-un-usual-clauses.html but it was a year ago and it didn't have a lot of discussion about the audit clause in particular. The clause...

. Checking the agency's web portal I notice my due payment is incorrect because the VAT is not there (so it's 20% less than it should be). I notify the agency that the wrong value shows up on their system. Agency asks to provide a VAT certificate and I adhere. Agency notifies me that the...

Are they worth it? Almost all of the purchases I make for MyCo use the standard debit card, can it be better to use a credit card? Personally I use a credit card where ever possible 1) for the protection it offers 2) the points. I assume the first is moot for a business card as the protections...

Hi All, Need your expert views: I am a contractor and have limited company. I invested significant money in following manner from business bank account and want to know how it will be treated. 1) Invested around £15K directly from business bank account into Crypto account 2) Invested...

Hello fellow contractors :) I am new to this forum, although have been reading for quite a while. I am at the moment thinking of closing down a company, will obviously try to use the tax advisor as well, but wanted to get my head around the topic myself beforehand I was contracting in IT using...

Hey guys, i have some questions i couldn't find answers to on the forum that involves working with family members, where most articles talk about husband/wife arrangements. Please help. So my brother has a large income from contracting for several companies, while I on the other hand have very...

I'm considering taking a contract that is inside IR35. I have a ltd company that has a retained loss from a previous financial year due to a creditor funding some legitimate R&D I did. Is it possible to offset the two? i.e. if the contract is 100k and the retained loss is 20k, can the IR35...

I was paying an accountant for over a year to do the accounting for my limited company. It is my first time contracting and having a limited company, and during this time the accountant made several mistakes: failing to file VAT, PAYE, miscalculations in VAT payments and finally I just received a...

Hi guys, I am an IT contractor working in London, my turnover is around £84K PA and I charge £450 per day. I can charge £550 per day however that would mean I would go over the threshold and bill after holidays and absences and downtime probably around £100K PA. Problem is, once you take off...

I have been working on a contract in an EU capitol. The job was full time for 2 months dropping to 3 days a week after 2 months for the rest of the year. This was sold as being located out of the UK with all expenses paid. Having been on the job for the 2 months full time the company announced that...

I will have to fix a database with huge number of records largely by hand. I dont want to do this so I am thinking to employ a retired relative to do it. I will not have any tax benefit since they will have to pay personal tax on the salary (or rather HMRC will get what's theirs), but if I pay...

A new site by Paul Maloney: https://overdue.work/ Handy for anybody dealing with slow-to-pay clients directly, or with a recalcitrant agency :)