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Recent content by 325i

  1. 3

    Furlough?

    He has asked his accountant, currently awaiting response. Obviously he is in a bad place at the moment so providing him some help. Thankfully my income has not been heavily impacted, feel for those who have.
  2. 3

    Furlough?

    So whats considered statutory duties?
  3. 3

    Furlough?

    Thought so. As his company is making revenue, so no furlough?
  4. 3

    Furlough?

    The company is earning but only 25% of normal operating. So therefore he is still taking a PAYE salary as usual which I believe is around £700 a month.
  5. 3

    Furlough?

    Thanks. Thats what i thought. Although is it possible even though he is still working and getting income? Only 25% at the moment for the past month or so and likely to continue. Or is he only eligible if he is earning nothing at all?
  6. 3

    Furlough?

    A close friend of mine has lost large part of income as with most people at the moment. He is the director of his ltd company so has a small salary and rest is dividends. What is unclear is can he furlough the PAYE part of his income? Or can he only do that if he lost all his income? The...
  7. 3

    Previous years expenses?

    Thanks. So in summary his tax relief is against the dividend tax of 7.5%. Obviously if he'd had done it properly it would of been relief on the company against corporation tax which would of been against 19%!!!
  8. 3

    Previous years expenses?

    I am not sure but presume so. That's something for him. Thanks, understand. But by putting it on the SA, it will reduce income tax?
  9. 3

    Previous years expenses?

    Thank you for the reply. Obviously I have always done it against my company to reduce corporation tax. Therefore should he not be doing it against his company? What's the difference if he does it on his SA?
  10. 3

    Previous years expenses?

    Thanks. Why do you probably? Is there a risk? So is by using P87 or a different process?
  11. 3

    Previous years expenses?

    Any further comments on this to whether he can claim back precious tax relief?
  12. 3

    Previous years expenses?

    Agree completely!! Yes this exactly. Basically tax relief for the previous years. Do you think he can?
  13. 3

    Previous years expenses?

    A colleague of mine is struggling with some expenses and needs a few things clarifying. He is a ltd company and takes a small salary and rest is dividends. Issue is he has not taken any mileage expenses for the last few years. Question is, is he able to claim previous years mileage? He...
  14. 3

    Paid expenses

    They paid it into my business account. Can I just transfer the amount into my personal account or do I have to declare it on the company accounts?
  15. 3

    Paid expenses

    I have a query regarding paid expenses I went on a business trip and I spent £50 of my own money for food and a taxi. As this is covered, my agency has paid this back to me in full. So my question is, what is the process of transferring this into my personal account? I dont want to be left...
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  1. Contracting
    1. General
      1. Brexit
    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
    5. Welcome / FAQs
  2. Social
    1. Light Relief
    2. Social / Events
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