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[TheCyclingProgrammer]

FreeAgent will handle all of this for you if you use it, including the necessary currency gain/loss calculations. Get their Irish VAT number if they have one, although not strictly necessary - so long as its clear they are an Irish-based business and you have some form of evidence then it will be treated...

[TheCyclingProgrammer]

I have to disagree here - if the contract stipulates that you can re-charge expenses at cost, then for a VAT registered business on the normal VAT scheme, the "cost" is the net amount, because you reclaim the input VAT from HMRC. So I think its reasonable for the agency to expect a £100 +...

[TheCyclingProgrammer]

Every single time this comes up there is a very simple answer:

What you charge the agency for your expenses is between you and the agency - it can be *anything* - but whatever you charge them will attract VAT at the standard rate as its part of your service. You're not invoicing them for...

[TheCyclingProgrammer]

The reverse charge is how you account for VAT on all purchases of services from outside the UK where the place of supply is the UK. You need to treat the service as if you both supplied and received it for VAT purposes. You should already be doing this if you purchase anything like software or web based...

[TheCyclingProgrammer]

If they are in the EU, then they shouldn’t be charging you VAT as it would be a reverse charge supply due to it being a B2B transaction but they may want to see your VAT number first (not strictly required but common across the EU).

As a consequence you will account for the VAT yourself...

[TheCyclingProgrammer]

Yes, indeed. ...

[TheCyclingProgrammer]

It makes not a jot of difference to the settlements legislation but it may be helpful if you want to maintain majority control over your business. (Some agencies might also require this)....

[TheCyclingProgrammer]

The rules for claiming use of home expenses for the self employed are more generous than those for employees so I would claim expenses for that against your sole trader business - employees can only claim £4/week or additional costs (with evidence) whereas sole traders can work out a reasonable proportion...

[TheCyclingProgrammer]

It needs to be an “outright gift” - ie no strings attached, no conditions or arrangements for the gifted shares to be returned etc.

The gifted property also needs to be more than just a right to income so they need to be ordinary shares with equal rights to votes and receive capital...