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Recent content by Bengal

  1. B

    Paying a wage out of Ltd co. but not actually 'working'..

    I don't see anyware in my post saying anything about what is being proposed is illegal. I was merely pointing out some facts around the tax and NIC position and also a potential approach of HMRC but then adding a couple of possible get outs (or solutions). HMRC are getting smart to what goes...
  2. B

    Paying a wage out of Ltd co. but not actually 'working'..

    I didn't necessarily find your comments insulting but was curious (see my post just above this post of yours). It gets my goat when someone slags of someone without adding there own view (that is of course if they have the nonce to have a view) and without considering what I might do for a living!
  3. B

    Paying a wage out of Ltd co. but not actually 'working'..

    Don't follow what you are getting at. The point I'm trying to make is, sure you can pay a salary to a person for ever and a day but if you pay it as salary, you will incuur an additional cost of 12.8% NIC as an employer, this rate goes up in April 2010............so there have to other ways of...
  4. B

    Paying a wage out of Ltd co. but not actually 'working'..

    I don't take kindly to your comments, justify yourself! What's the basis of your comments........do you know better?
  5. B

    Sony PS3 on expenses

    Love it!
  6. B

    Pay/claim expenses or let customer pay direct

    Agreed!
  7. B

    Pay/claim expenses or let customer pay direct

    If you are providing services to a client through a LTD company the appropriate way is for your company to invoice for "disbursements". When HMRC consider IR35, one of the points they look at is how are expenses claimed paid for, if they are the same as an employee it could be a pointer towards...
  8. B

    investigation amnesty period

    HMRC can go back 20 years under "discovery" rules, I think. This is only likley to happen if they discover understatements in the year that they are looking at.
  9. B

    Shuting Businesses To Claim Entrepreneur Tax Relief - Then reopen And Then

    I think the CGT regime changed in April 2007. There is no longer taper relief and a flat rate of CGT which is 18% (still better than income tax).
  10. B

    Sony PS3 on expenses

    I take your point but HMRC will not see it that way and to try and beat them down will cost a fortune. There are different rules for different types of workers. The use of a company owned laptop to browse the web or whatever else by a permie, is not regarded a taxable benefit on the employee...
  11. B

    Paying a wage out of Ltd co. but not actually 'working'..

    Mate a fundemental point that has not been mentioned is that if you pay a waage/salary each year month you will have to operate PAYE and account for NIC (employees and employers up to state retirment age and then employers NIC only after that) subject to the personal allowance and earnings...
  12. B

    Sony PS3 on expenses

    Mate, HMRC are unlikely to agree to the expense of a PS3 having been incurred wholly, exclusively. HMRC has this concept of duality of purposes which it will use when it suits them. Should HMRC successfully argue that it is not an allowable expense, the following will happen: 1. You will...
  13. B

    Ltd Company - (Money)

    Not quite, if a big co has a gym in their building, there is no benefit-in-kind charge on the employee. The cost of setting up the gym is a real cost to the company (including flooor space) and yes they do get a corporation tax deduction for it. If then big co pays for employees gym membership...
  14. B

    Ltd Company - (Money)

    Er, OK????!!!!????
  15. B

    Ltd Company - (Money)

    Mate you are confusing what is considered to be a directors loan for corporate tax purposes (£15k limit) and what a beneficial loan is for benefit-in-kind purposes (£5k limit).
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  1. Contracting
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