Originally posted by abc111
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Saving more on VAT and corporation tax
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Originally posted by abc111 View Postwhat i can or cannot consider as useful expenses...i work from home..
That is it. You might be able to reclaim your mobile phone bill if the contract is in your company's name.
Fact is, your company provides you. It doesn't have particularly high costs, which is why your corporation tax bill will be 'high'.
If you're a contractor, use a contractor specialist accountant - Gorilla is who I use. And don't spend all the money you get paid by your client, it isn't all yours to spend. Rule of thumb: allow about 1/3 of what you get in from the client to pay VAT and corp tax. And pay your self assessment tax out of your money, not your company's money.Last edited by Contractor UK; 30 December 2020, 16:00.Taking a break from contractingComment
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Max out your pension payments. That will reduce your corp tax.
You'll be old before you know it.Comment
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Originally posted by zeitghost View Post
I suppose this clown realises that Hector reads these boards?
Nah.
Silly question.
Of course not.Comment
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Originally posted by abc111 View Posthe's a straight arrow wouldn't give me the answers i am looking for : )
1) He's tulip. Get rid.
2) You're making this up and are a sockie
3) You've spent all the money, cannot afford the tax bill, are totally f***ed and your accountant has given up on you.See You Next TuesdayComment
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Originally posted by mattfx View PostI'm sorry to be a dunce, but what is a "sockie" ?!See You Next TuesdayComment
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Originally posted by WTFH View PostWhat answers are you looking for?"You’re just a bad memory who doesn’t know when to go away" JRComment
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