Saving more on VAT and corporation tax

[abc111]

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..

[zeitghost]

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.

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.

[abc111]

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...

[mattfx]

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.

[TheFaQQer]

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

[abc111]

No. An agency would though.

which agency ...its me, client and my chartered accountant...

[PhiltheGreek]

sole director -me.

I thought you might say that. You are comprehensively f*cked.

question: does client submit record and details of their payees to HMRC who they pay HMRC and how much they have paid...!! thanks..

They just send your staff pass picture to make sure HMRC know who the record is for.

[TheFaQQer]

question: does client submit record and details of their payees to HMRC who they pay HMRC and how much they have paid...!! thanks..

No. An agency would though.

[abc111]

What does your board of directors say?

sole director -me.

question: does client submit record and details of their payees to HMRC who they pay HMRC and how much they have paid...!! thanks..

[SueEllen]

thanks i am just an engineer working for a company on ltd company basis...
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...


question: does client submit record and details of their payees to HMRC who they pay HMRC and how much they have paid...!! thanks..

Oh dear...

Go back to permanent employment if you can't be bothered to keep records.