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Recent content by 94bb

  1. 9

    Furloughing from limited company and seeking alternative employment

    Anyone else have any thoughts, I’ve heard a tax lawyer on LBC this afternoon confirm this is ok. There is no legal prevention on being employed elsewhere whilst on furlough
  2. 9

    Furloughing from limited company and seeking alternative employment

    I have no idea, but I suspect around the £12k mark so its tax efficient. Ignoring the subjectivity judgement, technically furloughing themselves from their limited looks legal and in line with HMRC guidance i.e. its perfectly ok to have other employment. Has anyone come across material to prove...
  3. 9

    Furloughing from limited company and seeking alternative employment

    A few contractor friends are going to be furloughing themselves from their newly repurposed contracting limited companies (i.e. now a real estate purchase and sale SIC) the impact from COVID are obvious, drops in property appetite close to zero. The potential challenge is, these same people...
  4. 9

    Electric car through Ltd?

    The ownership of the vehicle is in the company’s name not the lease firms name. So seems like a grey area...
  5. 9

    Electric car through Ltd?

    business contract lease: VAT impact business contract lease: VAT impact I've received some advice from my accountant, and wanted to validate it here. To claim the VAT back on a business contract lease, does the limited need to be standard rate rather than flat rate. I thought assets over £2k...
  6. 9

    Electric car through Ltd?

    Got mine with the 22inch wheels, in caesium blue :)
  7. 9

    Electric car through Ltd?

    Save a lot of cash and just do a contract lease. Electric cars are in its infancy, battery tech is evolving at lightning pace (pardon the pun) so mitigate your asset from being devalued by simply purely leasing the car. I’ve done the same with the new iPace
  8. 9

    Electric car through Ltd?

    BIK rates BIK rates Has anyone tackled the question how you give evidence that an electric car has been used solely for business purposes only, and thus can claim back the VAT paid for the vehicle?
  9. 9

    Electric car through Ltd?

    2019 electric car and new BIK 2019 electric car and new BIK There has been lots of threads on electric cars, but none seems to apply the tasty 2020 BIK incentive. If I’ve been a bit thick and missed a relevant thread citing this specific example please point me in the right direction. I...
  10. 9

    2019 electric vehicle: a relevant example

    There has been lots of threads on electric cars, but none seems to apply the tasty 2020 BIK incentive. If I’ve been a bit thick and missed a relevant thread citing this specific example please point me in the right direction. I understand for electric cars you no longer have to stipulate the...
  11. 9

    office refurb costs

    The more observant would have noticed I'm very new here, and typing in 'office costs' yields a lot of irrelevant results. It would have been much more constructive if you kindly pointed me to the appropriate links. Spending best part of two decades in regulatory compliance, I will be very...
  12. 9

    office refurb costs

    Hi, I work from home most days in my home office, and have been contracting for 9 years. I have never invested in my home office to date. This year I have decided to invest in some bespoke storage, new carpets, light fittings, re-painting work with some help of an interior designer as it's...
  13. 9

    Investment loss impact on Corp tax and VAT

    No need for churlish undertones. The article implies profit / loss on the transaction would be exposed to corporation tax. So if a £10k profit was made, this portion would be relevant for CT, same for loss. The learned gents above set me straight on the application of VAT.
  14. 9

    Investment loss impact on Corp tax and VAT

    “The profits and losses of a company entering into transactions involving Bitcoin would be reflected in accounts and taxable under normal CT rules IT - the profits and losses of a non-incorporated business on Bitcoin transactions must be reflected in their accounts and will be taxable on normal...
  15. 9

    Investment loss impact on Corp tax and VAT

    I do, he was one of the chaps who provided one of the inputs I have received. I’m also cognisant this isn’t a run of the mill case study, applications of the regs may be interpreted and applied differently. I’m keen to understand what you learned folk think, especially with offsetting...
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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
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