• 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.

Saving more on VAT and corporation tax

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #41
    Originally posted by TheFaQQer View Post
    No. An agency would though.
    which agency ...its me, client and my chartered accountant...

    Comment


      #42
      Originally posted by abc111 View Post
      which agency ...its me, client and my chartered accountant...
      If you don't use an agency, then there is no agency to report the data
      Best Forum Advisor 2014
      Work in the public sector? You can read my FAQ here
      Click here to get 15% off your first year's IPSE membership

      Comment


        #43
        Originally posted by abc111 View Post
        which agency ...its me, client and my chartered accountant...
        Your "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.

        Comment


          #44
          Originally posted by mattfx View Post
          Your "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.
          many thanks.
          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


            #45
            Originally posted by abc111 View Post
            i 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...
            Indeed. It takes hours & hours to keep receipts and enter them on a spreadsheet.

            Quite enervating really.

            Originally posted by SueEllen View Post
            Oh dear...

            Go back to permanent employment if you can't be bothered to keep records.
            This has got to be a sockie, there's no other reasonable explanation.
            Last edited by zeitghost; 11 September 2017, 17:26.

            Comment


              #46
              Originally posted by zeitghost View Post
              Indeed. It takes hours & hours to keep receipts and enter them on a spreadsheet.
              what i can or cannot consider as useful expenses...i work from home..

              Comment


                #47
                Originally posted by zeitghost View Post
                Indeed. 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.
                Isn't this the reason why one has their spouse as a co-director in their limited company set up ? Nothing to do with income shifting of course.
                ______________________
                Don't get mad...get even...

                Comment


                  #48
                  Originally posted by abc111 View Post
                  what i can or cannot consider as useful expenses...i work from home..
                  Have you thought about renting some goldfish? It worked wonders for Peter Ridsdale.

                  Comment


                    #49
                    Originally posted by abc111 View Post
                    what i can or cannot consider as useful expenses...i work from home..
                    Ask your accountant.
                    "You’re just a bad memory who doesn’t know when to go away" JR

                    Comment


                      #50
                      Originally posted by SueEllen View Post
                      Ask your accountant.
                      he's a straight arrow wouldn't give me the answers i am looking for : )

                      Comment

                      Working...
                      X