Need rid of my accountant fast...Any good ones for under 50/pm

[d000hg]

Horse tulip.

One man limited co's are not exclusive to the IT industry and were in existance long before you or I.

Any mainstream (or even not so mainstream) accountancy firm with qualified staff are familiar with (and deal with) companies of all sizes and the laws that apply to them.

They will have SOME 1-man companies. But probably not the majority. With a small local accountancy firm you run the risk they treat them like every other company.

No different than if I have C# on my CV but have been working with Java for 3 years... I'm quite capable of working with C# but I'm not as immediately up to speed as someone who only works with C#.

Also, 1-man companies are not the same as 1-man consultancy companies (IT or otherwise). There are gazillions of 1-man home businesses but the majority are selling tat over the web, not sending a consultant to work 9-5 at a client's workplace.

[Danielsjdaccountancy]

The revenue will review income shifting on a case by case basis. So this means they could investigate regardless of the Arctic case, do you really want that hassle and HMRC crawling over your books.

I would like to hear about your SJD experience, so yes, please do PM Ravello.

I stick by my advice, if you would like to be running your Limited company in a certain manner, then first ask your accountant, challenge them if you are not happy with the response, research it and if you are still happy, then proceed to run it the way you want, an accountant should not be closing doors for you if you think you can pass through them.

It's your company and your responsibility and more importantly, your pocket!

[THEPUMA]

The revenue will review income shifting on a case by case basis. So this means they could investigate regardless of the Arctic case, do you really want that hassle and HMRC crawling over your books.

I would like to hear about your SJD experience, so yes, please do PM Ravello.

I stick by my advice, if you would like to be running your Limited company in a certain manner, then first ask your accountant, challenge them if you are not happy with the response, research it and if you are still happy, then proceed to run it the way you want, an accountant should not be closing doors for you if you think you can pass through them.

It's your company and your responsibility and more importantly, your pocket!

They can review it on a case-by-case basis all they like. That doesn't mean that they can disregard the Lords' decision in the Arctic case.

Most of our clients' cases are pretty similar to the Joneses so I am entirely comfortable that setting them up with 50:50 shareholdings is entirely legitimate.

On what grounds do you think it is worth clients paying an additional £10K per annum in tax (in some circumstances) if they are in an identical (or even similar) situation as the Joneses? I don't get it at all. But then again I don't get the £12K salary thing either.

[Danielsjdaccountancy]

They can review it on a case-by-case basis all they like. That doesn't mean that they can disregard the Lords' decision in the Arctic case.

Most of our clients' cases are pretty similar to the Joneses so I am entirely comfortable that setting them up with 50:50 shareholdings is entirely legitimate.

On what grounds do you think it is worth clients paying an additional £10K per annum in tax (in some circumstances) if they are in an identical (or even similar) situation as the Joneses? I don't get it at all. But then again I don't get the £12K salary thing either.

We help clients run their businesses in a manner which draws the least attention from HMRC at the same time still helping them to achieve a high percentage of take home pay.

[THEPUMA]

We help clients run their businesses in a manner which draws the least attention from HMRC at the same time still helping them to achieve a high percentage of take home pay.

So you think it is worth paying £10K extra tax per year in order to avoid HMRC asking questions about an issue which was settled in the taxpayers' favour in the House of Lords 4 years ago? Would you pay the extra tax if you were the taxpayer because I certainly wouldn't?

[LisaContractorUmbrella]

Just because a legal precedent has been set for one specific set of circumstances it does not mean that a policy of 50/50 shareholdings is a sensible way forward - each case should be judged on its merits. It's all very well being gung ho when giving advice if it is not you that will be coughing up if anything goes wrong

[Danielsjdaccountancy]

So you think it is worth paying £10K extra tax per year in order to avoid HMRC asking questions about an issue which was settled in the taxpayers' favour in the House of Lords 4 years ago? Would you pay the extra tax if you were the taxpayer because I certainly wouldn't?

Is it less than if the revenue found you to be inside IR35? Yes our clients pay some tax but then most, after we explain it, are happy to do so. They can still achieve 75-85% over the life of the company if they operate in the right way.

[THEPUMA]

Is it less than if the revenue found you to be inside IR35? Yes our clients pay some tax but then most, after we explain it, are happy to do so. They can still achieve 75-85% over the life of the company if they operate in the right way.

What about those who need to draw out say £80K per annum?

You didn't answer my question by the way.

[THEPUMA]

Just because a legal precedent has been set for one specific set of circumstances it does not mean that a policy of 50/50 shareholdings is a sensible way forward - each case should be judged on its merits. It's all very well being gung ho when giving advice if it is not you that will be coughing up if anything goes wrong

OK so I'll ask you the same question I asked Daniel. What would you do if you operated through a company, needed £80K per annum to live on and had a non-working spouse?

[LisaContractorUmbrella]

OK so I'll ask you the same question I asked Daniel. What would you do if you operated through a company, needed £80K per annum to live on and had a non-working spouse?

If I had a non-working spouse I would definitely not do a 50/50 split unless I was damn sure that said spouse was making a 50/50 contribution to my business