Account recommendation - RSUs on foreign stock

[TheCyclingProgrammer]

Also not mentioned in that post - it won’t be able to produce an accurate return if you have a small asset pool that was written off using the small pools allowance when it’s balance went below £1k as FreeAgent doesn’t support it and will maintain a small pools balance forever, adjusting for...

[TheCyclingProgrammer]

Can anyone recommend an accountant who can give me some (paid) advice on how to deal with RSUs on foreign stock? Or maybe somebody here has some experience.

The TLDR is that part of my new job’s compensation will include RSUs that vest quarterly as opposed to stock options. The company...

[TheCyclingProgrammer]

https://www.bbc.co.uk/news/entertainment-arts-56649661

Sh*t on it.

[TheCyclingProgrammer]

Basically this but there is also a mandatory minimum. 10 days in the US but I will be hired under a U.K. employment contact so minimum will likely be whatever the U.K. minimum is now (4-5 weeks I think)....

[TheCyclingProgrammer]

I'll enjoy it along with the excellent 6 figure salary and unlimited paid time off policy all whilst continuing to work from my own home office. ...

[TheCyclingProgrammer]

Contract was outside IR35 and company has no UK presence not overly concerned. I’m certainly looking forward to never having to think about bloody IR35 again....

[TheCyclingProgrammer]

12 years of freelancing and contracting, 400+ invoices, just sent the last one. Officially becoming employed by current client from next week after they sorted out their international hiring issues (they are using a UK-based employer of record). A list of paperwork and tasks left relating to closing...

[TheCyclingProgrammer]

Ask them to change it. If they refuse, ask your wife if she'd be willing to transfer 1% back to you and if she agrees, problem solved. File the necessary paperwork, update the company records and report it on your next confirmation statement.

[TheCyclingProgrammer]

Presumably you'd need to find an MVL practitioner willing to leave such a mess behind - unlikely.

In reality the idea of writing off the assets and treating them as scrapped would probably be fine in practice, but it also leaves you vulnerable to a challenge by HMRC and I'd like to leave...

[TheCyclingProgrammer]

So reading up on this some more it seems that assets can be distributed in specie instead of being sold back to me, however:

* There’s no avoiding the corporation tax charge as it still counts as a disposal and a balancing charge needs to be calculated.
* I should be able to just...

[TheCyclingProgrammer]

I'm just trying to do the right thing, whilst remaining tax efficient. I'm not trying to pull a fast one and fiddle the estimates as some others may have suggested. We're not talking anything serious here...an 18 month old iMac Pro, some relatively new mobile devices, an office aircon unit etc. Probably...

[TheCyclingProgrammer]

I'm clearing missing something obvious here, but I thought the whole point of a liquidation was to distribute a company's assets to it's shareholders. Why is the company required to sell those assets to the shareholders instead?

Quoting from https://www.armstrongwatson.co.uk/news/2020/...

[TheCyclingProgrammer]

Estimated market value, although its not entirely clear how I'd go about getting a reasonable estimate for some of the items....

[TheCyclingProgrammer]

Can anyone recommend an MVL company that doesn't cost a fortune that can deal with liquidations that involve cash + capital assets? I wanted to use MVL Online but they only deal with cash.

MyCo has a number of capital assets on its books that still have some market value - possibly around...

[TheCyclingProgrammer]

Well the supply will still be subject to the reverse charge at the customers end, if the customer is in the EU. It doesn’t matter where the supplier is based. Just the same as I would have to account for the reverse charge on supplies I purchase from e.g. a US based supplier.

Whether...

[TheCyclingProgrammer]

Yes, this would be caught by bed and breakfasting rules. HMRC would consider that there was no intention to repay the loan and the subsequent loan would be treated as a continuation of the previous one, meaning you’ll be liable for a s455 tax charge until the loan is repaid. You would also have to...

[TheCyclingProgrammer]

The newer rules you refer to aren’t out of date, they just don’t apply to the scenario outlined by OP if the equipment was purchased for a business reason. In this case they are exempt from the rules you linked to because it’s covered by the exemption under s316.

See the bottom of...

[TheCyclingProgrammer]

That’s actually something different. There is a domestic reverse charge process for certain goods relating to preventing carousel fraud but it’s not the same as the reverse charge on overseas supplies of services.

IIRC one of the motivations of the reverse charge is to prevent businesses...

[TheCyclingProgrammer]

The reverse charge will still apply to these supplies but that’s for the customer to account for. There is nothing that the U.K. business needs to do if they aren’t VAT registered....

[TheCyclingProgrammer]

You don’t “charge VAT at 0%”. It’s not a zero rated supply for VAT purposes. It’s in fact outside the scope of U.K. VAT as Craig has already said which means you aren’t charging VAT at all. It’s not quite the same thing.

The only mention of VAT on your invoice should be a...