Originally posted by TheFaQQer
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Saving more on VAT and corporation tax
Collapse
X
Collapse
-
-
Originally posted by abc111 View Postwhich agency ...its me, client and my chartered accountant...Comment
-
Originally posted by abc111 View Postwhich agency ...its me, client and my chartered accountant...
Reduce your CT bill by filing your expenses when working away from home (this is every day if your home is your office and you need to attend site as part of your contractual obligations). Fuel / Train travel, Subsistence all counts. If you can claim travel, you can claim subsistence in most cases. Check the 24 month rule if it's relevant to you.
When you invoice a customer they have to pay you - this means they have a record of that payment. If they were investigated by HMRC they would then see this. If you were also investigated at the same time, they could look at the two businesses jointly.Comment
-
Originally posted by mattfx View PostYour "chartered accountant" should be giving you the advice here, not CUK.
Reduce your CT bill by filing your expenses when working away from home (this is every day if your home is your office and you need to attend site as part of your contractual obligations). Fuel / Train travel, Subsistence all counts. If you can claim travel, you can claim subsistence in most cases. Check the 24 month rule if it's relevant to you.
When you invoice a customer they have to pay you - this means they have a record of that payment. If they were investigated by HMRC they would then see this. If you were also investigated at the same time, they could look at the two businesses jointly.
i have my wife as secretary/ director -i added her for taking out more salary on least salary (no NI basis), she is non technical how and what can i claim on behalf of her...!! telling from experience...Comment
-
Originally posted by abc111 View Posti generally skip quite a few expenses as keep a record is a mammoth task for me...i take it expenses should save me both VAT and CT...
Quite enervating really.
Originally posted by SueEllen View PostOh dear...
Go back to permanent employment if you can't be bothered to keep records.Last edited by zeitghost; 11 September 2017, 17:26.Comment
-
Originally posted by zeitghost View PostIndeed. It takes hours & hours to keep receipts and enter them on a spreadsheet.Comment
-
Originally posted by zeitghost View PostIndeed. It takes hours & hours to keep receipts and enter them on a spreadsheet.
Quite enervating really.
This has got to be a sockie, there's no other reasonable explanation.______________________
Don't get mad...get even...Comment
-
Originally posted by abc111 View Postwhat i can or cannot consider as useful expenses...i work from home..Comment
-
Originally posted by abc111 View Postwhat i can or cannot consider as useful expenses...i work from home.."You’re just a bad memory who doesn’t know when to go away" JRComment
-
Originally posted by SueEllen View PostAsk your accountant.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- How chargeable gains for spouses and civil partnerships changed at Spring Budget 2023 Today 09:29
- The Treasury response to its umbrella market evidence-call is imminent, thankfully Today 08:35
- 'Directly engaged' Gary Lineker gets GBP4.9m IR35 bill by HMRC thrown out Yesterday 10:19
- Why Gary Lineker's win over HMRC isn't an IR35 victory for contractors Yesterday 09:11
- Contracting Awards 2023 finalists announced Mar 28 15:41
- Contractors' Questions: Is HMRC really going to jail tax avoiders? Mar 28 14:55
- 'Underwhelming' Spring Budget makes 'boring' tax year-end changes even harder to face Mar 28 10:53
- Where Labour Market Enforcement Strategy 2023/24 should step in for the contractor sector Mar 28 09:21
- Spring Budget 2023: Research and Development Relief overview for contractors Mar 28 08:10
- Buy computer equipment before super-deduction ends on Friday, directors advised Mar 27 08:15
Comment