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Recent content by ASB
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Be Careful Working Away
One problem is LR title is absolute. The new owner does indeed in law own it. Provided they were also an unwitting victim. -
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Can I contribute to SIPP via umbrella company?
To be fair to brolly they will have applied the tax code they were provided as they are required to. That will have come from a P45 (which seems you will not have provided) or via requesting a code from HMRC. I suppose they could have asked "why no P45". I, and many others I think, would not...- ASB
- Post #36
- Forum: Umbrella Companies
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Can I contribute to SIPP via umbrella company?
From your description it sounds as though your umbrella is simply making your personal contribution on you behalf. This would be unusual but not unique. They could also be simply rinsing you for the NI. I would have to see a payslip to figure out. But you right. It is important to remember the...- ASB
- Post #33
- Forum: Umbrella Companies
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Can I contribute to SIPP via umbrella company?
I imagine they said "anything coning from this account is an employer contribution". The reason for labouring the point: A good friend was making employer contributions of a regular amount. One year he made a substantial one off payment towards the end of year. It turned out - some months...- ASB
- Post #30
- Forum: Umbrella Companies
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Can I contribute to SIPP via umbrella company?
Well yes. so they "know" it is an employer contribution because they assume it is. In other words they need notifying of every incoming payment that isn't. They do have a form which is intended to be used, or phone. I don't doubt it worked for you, but some caution is needed when mixing...- ASB
- Post #28
- Forum: Umbrella Companies
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Moving SIPP provider
It depends. You mentioned vanguard. They will accept cash or vanguard funds and etfs. Whether hl will he prepared to effect the transfer of any vanguard funds tou hold is purely a matter for them.- ASB
- Post #5
- Forum: Accounting / Legal
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Can I contribute to SIPP via umbrella company?
But I don't think it works that way. If "you" make a contribution "you" don't claim tax relief relief it. https://www.gov.uk/tax-on-your-private-pension/pension-tax-relief Thus the provider has to know for each and every contribution whether it is an employer contribution (already relieved).or...- ASB
- Post #26
- Forum: Umbrella Companies
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Can I contribute to SIPP via umbrella company?
But how do HL then know that it is an employer contribution and not a personal one ? It matters since the former gets no tax relief (a gross contribition is paid) the latter get tax relief automatically applied (a net contribution is paid)- ASB
- Post #22
- Forum: Umbrella Companies
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Can I contribute to SIPP via umbrella company?
Yes but ..... A salary sacrifice type payment should be much better than a personal payment and it may be worth tolerating excessive transfer costs. It just depends on what the umbrella will do.- ASB
- Post #17
- Forum: Umbrella Companies
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Travel costs/fuel
There is also a question as to whether it is worthwhile claiming from the company at all. If you don't you can claim the difference between the AMAP rate of 45p/25p and what is actually paid against your gross income via SATR. It is possible in a few cases that this yields a greater saving...- ASB
- Post #15
- Forum: Accounting / Legal
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Dividends from SIPP shares
They stay in there. You can of course choose to withdraw them (and anything else in there) subject to the drawdown rules and taxation. Though I assume you are under 55 so the above is not relevant if so. -
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How to remove a wife shareholder from a limited company?
Possibly. It depends on the individual circumstance. Age can be important too. Any form of pre nup might help but no guarantee. In essence both parties enter rhe marriage with their respective things and it is joint property. As is property gained through the marriage. The court does...- ASB
- Post #47
- Forum: Accounting / Legal
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I want your wallet
Yes cost is less of an issue. It is amortised across a greater estate. There are a number of standards which help. Assuming of course any of these are implemented in the target system. The major SCO Providers all provide a defined SCO to POS interface and implementation of it so there is a... -
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I want your wallet
Initial self scanning (mid 90s) loss actually dropped. This was quite surprising but the main reason seemed to be people not cancelling things they had changed their mind about. As self checkout appeared (about 03/04 was the first except for one notable case) there wasn't much change. Obviously... -
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Accountancy/TAX: Investment company - Is it taxed on profit or on paper value?
You might post on Accounting Web. But they will tear you a new bottom too. It is a little complex, but in essense:- 1) There is a profit or loss on each transaction against its original purchase price. This is subject to CT. 2) You need to revalue annually. This is fair value and os a book...- ASB
- Post #8
- Forum: Accounting / Legal
