what is stoping someone from creating an invoice for services to their LTD. company and drawing the cash out ? Apart from it being fraud.....
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SA says;
Well you looked so stylish I thought you batted for the other camp - thats like the ultimate compliment!
I couldn't imagine you ever having a hair out of place!
n5gooner is awarded +5 Xeno Geek Points.(whatever these are) -
why ?Originally posted by n5gooner
said person would have to declare it, and therefore it becomes VATable and subject to "other" taxes.Cenedl heb iaith, cenedl heb galon
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Much better to take the money as expenses, so no tax, if you're wanting to do something dodgy. Just need a receipt book from the local stationers and the addresses of some b&bs you've no intention of ever staying at that are close to where you're contract head office is. Then claim milage allowance as well to said b&bs, all while working from home
Once got investigated for claiming about 15k in expenses, dragged on for about a year which was a ball-ache. Fortunately the expenses were kosha, so don't know how much investigation the tax man does to prove a receipt is genuine.Feist - 1234. One camera, one take, no editing. Superb. How they did it
Feist - I Feel It All
Feist - The Bad In Each Other (Later With Jools Holland)Comment
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You do know Gordon Brown Reads these boards don't you?Originally posted by PAHMuch better to take the money as expenses, so no tax, if you're wanting to do something dodgy. Just need a receipt book from the local stationers and the addresses of some b&bs you've no intention of ever staying at that are close to where you're contract head office is. Then claim milage allowance as well to said b&bs, all while working from home
Once got investigated for claiming about 15k in expenses, dragged on for about a year which was a ball-ache. Fortunately the expenses were kosha, so don't know how much investigation the tax man does to prove a receipt is genuine.threenine.co.uk
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Does he?Originally posted by cykophysh39
OI GORDON - YOU'RE A C**T!!!Call the cops
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You can be self-employed can't you? The tricky bit is whether you can be self-employed providing services for a company you are the director of.Originally posted by n5gooner
Yeah - it must be OK. Off you go...
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There's nothing wrong with this in principle, in the 1980s I used to know a contractor who did this, though I couldn't see what big advantage there was. The company will face the same danger that any company dealing with a self-employed person does, that Hector will manage to prove you're really an employee, treat all self-employed payments as net salary and gross them up with income tax, employees NI and employers NI corresponding to that alleged salary billed to the company. The danger of this happening is why client and agent companies won't usually deal with self-employed contractors.Originally posted by n5goonerComment
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