Sunday Solutions Anyone Else Having A Problem

[Rhines]

Notimpressed - do you know how much the Employers NICS would be? I plan on submitting my Self Assessment in the next couple of days. I am going to either use the net sales figure based on the amounts received in my bank account or use the gross sales amounts and deduct 6 % for fees plus deduct any personally incurred expenses. I am confident I can prove my own income as I have copies of invoices plus my agency can provide further support.

For somone in my position it may work out cheaper to declare myself 'employed' rather than have months of hassle.

[NotImpressed]

Notimpressed - do you know how much the Employers NICS would be? I plan on submitting my Self Assessment in the next couple of days. I am going to either use the net sales figure based on the amounts received in my bank account or use the gross sales amounts and deduct 6 % for fees plus deduct any personally incurred expenses. I am confident I can prove my own income as I have copies of invoices plus my agency can provide further support.

For somone in my position it may work out cheaper to declare myself 'employed' rather than have months of hassle.

There's a handy online tax calculator you can use as http://listentotaxman.com/ which will give you a final tax + employee's nics + employer's nics for a gross income. Employer's nics are pretty grievous - 12.8% above a pretty measly threshold.

My plan is to declare my gross income (minus 5% + personal expenses) earned through the partnership as employed income if what comes through from Bradbury on the week commencing 14th is rubbish. I would wait until then Rhines - you've got nothing to lose! I'd really rather not have to do this to avoid doubling what I've calculated my tax liability is under the partnership scheme, but if it avoids having to file a laughable tax return that will trigger every alarm HMRC have, I don't see I have much choice... Let's not forget, there are partnership accounts to file also which will somehow need to marry up to what we as partners return.

All that said, I'm still holding out some hope for 14th!

[Titanic]

Have you received an email from Bradbury promising to get in contact during the week commencing on 14th?

Nope - haven't received such an email. Seems you're luckier than me...

[Babybadger]

All forms have contact have failed to date - phone calls, e-mails, recorded letters to Bath and Folkestone and a letter direct to Mr Nyiri at his home address.

PM me his Home address please if you have it....

On another note, Bradbury and Co. are still trading, thought about being struck off, and changed their mind. No one has issued a County Court Judgment against them yet either, so maybe we are jumping the gun.

What they have done is declared on my 07/08 tax return that a dormmant shelved company earnt some money...that is going to cause problems....

I am ordering my UTR code so my new accountant can see if ANY tax has been paid on my behalf....

I have to say I have had no letters from the HMRC regarding 07/08 tax year , and they now where I live, and they would be kicking in my door by now....

[Cheshire_cat]

Expenses and SATR

If the 'expenses introduced' on my set of Partnership accounts is supposed to relate to my expenses i.e. mileage, subsistence etc, this figure is completely wrong - it's about a third of what it should be! To make matters worse, my accountant tells me that you can only claim 'expenses' on the partnership accounts and not on your SATR. Does anyone dispute this?

[Rhines]

Notimpressed - thanks for the info. I wouldn't mind doing the same if I thought I would only have to pay Employers NICS for 08/09 but I would be worried about bringing something like that to HMRC's attention and being hit for the previous year also.

I think I'll hold fire for now like you suggest, I'm still very unsure what to do for the best.

[Rhines]

Tax Return

Cheshire Cat - that is certainly my understanding. The Self Assessment form asks for your Profit from the partnership which should be your total sales minus expenses, mgmt fees etc. There is no section to input other expenses that I have seen.

[Microtots'r'us]

Use the Additional Information Box on Partnership pages

Rhines
NotImpressed

The white space is where your adjustments would go

[bobster]

[QUOTE=Babybadger;1019713]PM me his Home address please if you have it....

Administrator - Please can you enable PM.

<admin note>Yes I can</admin>

[EwingOliveConcerns]

Ewing Oliver Partnership

Hi, I am also in this conundrum. If there are other partners of Ewing Olive Partnership out there who would like to get together to see how we can sort this out.

Titanic, if possible could you get in touch.

Thanks everybody.