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Recent content by Bigbird
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Taking on staff
You will need more than "a couple of pounds" difference to cover the costs, whether you take on employees or act as a second-line agency. Either way you will be the employer and therefore responsible for holiday pay (currently 10% of wage), employees NI (12.8% of wage after the first £100)...- Bigbird
- Post #4
- Forum: Business / Contracts
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overpayment
The Agency's contract for the supply of your services was with your umbrella, not you personally. Any overpayment has been made to your umbrella, not you personally. They should be reclaiming it from your umbrella, they have no legal basis to try and reclaim it from you personally. If they...- Bigbird
- Post #5
- Forum: Accounting / Legal
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Self Assesment Tax Liability
Hard to say without looking at the actual figures on your return. Does YourCo supply you with a car so that you would have a BIK that is not reflected in your tax code yet?- Bigbird
- Post #2
- Forum: Accounting / Legal
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Income Tax Self Assessment - New "investigate me" questions
As others have said I doubt if any legal definition of a "service company" exists. HMRC started using the term in 1998/99 when they started to prepare the legislation that subsequently became IR35. No idea if there is a legal definition of a service company (doesn't look like it) but HMRC say...- Bigbird
- Post #12
- Forum: Accounting / Legal
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Spoken to Prosperity4 Administrators
You are absolutely right Windy. Further digging reveals that there are of course limits to this could-have-been-useful bit of legislation, and pay appears to be capped at £310 per week - probably less than most of you are on per day I expect. :( In fact please ignore what I said before and...- Bigbird
- Post #37
- Forum: Business / Contracts
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Spoken to Prosperity4 Administrators
Neither you nor P4 were employees of Futuro though, you were just ordinary creditors.- Bigbird
- Post #36
- Forum: Business / Contracts
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Spoken to Prosperity4 Administrators
No, cos as jenwaller has just pointed out they are not yet insolvent........- Bigbird
- Post #35
- Forum: Business / Contracts
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Spoken to Prosperity4 Administrators
Whilst in administration they would be expected to trade as normal, ie pay all bills (including wages) on time. Some administrations actually require the opening of a seperate bank account by the administrator(s) to ensure that this happens, only money due to the company in administration is...- Bigbird
- Post #34
- Forum: Business / Contracts
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Spoken to Prosperity4 Administrators
Can I just check with you P4 lot (cos I don't have a lot of experience with brollies) that you are bona-fide employees of P4 with proper contracts of employment etc? if so it might not be in your interests to cut and run just yet, as your wages and holiday (to a certain value) are safe. Under...- Bigbird
- Post #31
- Forum: Business / Contracts
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Late tax forms
:confused: What forms? You only need to send them a payslip, don't even need that if you pay electronically. No forms required for your PAYE til April next year!- Bigbird
- Post #2
- Forum: Accounting / Legal
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Two jobs
None. When you start your permie role ask your new employer for a P46 and tick Box A "this is my only or main job". Set your tax code within Yourco's payroll system to "BR" and deduct at basic rate if you do pay yourself anything from Yourco under PAYE. When you go back to Yourco in a couple...- Bigbird
- Post #2
- Forum: Accounting / Legal
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Corp Tax return. What else do I submit ?
The computation you need to send is not how you arrived at your P&L figures, it's how you have calculated your CT. Tip: use the calculator on HMRC website, save result as a PDF, send them that. Works for me! You should also have a set of accounts for the period that include your P&L. balance...- Bigbird
- Post #9
- Forum: Accounting / Legal
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NCD Query
When is your company year-end? Your problem hinges on this, and also when the dividends were paid. I am assuming it isn't the 5th of April as you say this: and you paid regular dividends during the year? Therein I think lies your problem. As far as HMRC are concerned they don't care what...- Bigbird
- Post #6
- Forum: Accounting / Legal
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IR35 - Done to Death...
No relevance at all. Each contract would be subject to an individual IR35 test and would pass or fail on its own terms and working practices. The fact that you are doing them both at the same time makes no difference whatsoever.- Bigbird
- Post #10
- Forum: Business / Contracts
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How to disolve untraded limited company ?
To close the Co down yourself if you wanted to involves one form fron Co House (which can be downloaded from their website) and a fee of £10.00. If you want to keep the company open but dormant it will cost you either £15 or £30 to file an annual return each year (£15 webfiling and £30 if you...- Bigbird
- Post #11
- Forum: Accounting / Legal
