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Recent content by Bumble79

  1. B

    Dormant or Closing Limited Company.

    Thank you. Theres no money left in the company so am not drawing a wage. And its maintained by an accountant to whom am paying every month. I think i cant afford to do it anymore. If i dont avail the service anymore, I would have to maintain the accounts. What would i have to do to keep the...
  2. B

    Dormant or Closing Limited Company.

    Hi, I run my own limited company, however have not worked recently because of extended maternity break. am looking for contracts but nothing coming in my way. Is it benefical to make the company dormant or close the company if i choose to work after a year. Advice/suggestions please. Thanks...
  3. B

    Can I continue to take a salary ?

    Yes , have profits, will do so soon.
  4. B

    Can I continue to take a salary ?

    Thanks Alan. Yes a tax efficient one. Obviously, I will not be touching the VAT and Corporation Tax amount. Have gotten in touch with my accountant. When you say, it could cost several thousand pounds, what exactly are you referring to ?
  5. B

    Can I continue to take a salary ?

    Thanks all.. I do intend to work, but not now, after a year. So, until then, can i still take a salary obviously without touching the CT and VAT?
  6. B

    Can I continue to take a salary ?

    Hi, I run my own limited company with me and my husband as directors. My contract ended in April , and am not looking out for contract as I am having a baby in September. My question here is, Can i continue to take salary and dividends as long as the monies are still left from my contract and...
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    Limited company with 2 directors - Tier 1 visa holders.

    Thank you all for your replies!!! To clarify my question further. My husband and I are on Tier 1 General Visa. Both of us are on different contract rates , and when we declare dividends , we take equal share. So there is a possibiliy that one of us take more than what we earn (profit made to...
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    Limited company with 2 directors - Tier 1 visa holders.

    Hi, My husband and I are directors of limited company as equal share holders. We both are on different contract rates. We both hold Tier 1 Visa to live and work in the UK. Now my question here is, at the time of visa extenstion, we need to show our proof of income. Since we both hold 1:1...
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    Paying Salary out of Business Bank account.

    Thank you all :)
  10. B

    Paying Salary out of Business Bank account.

    Hi, I am going to pay my first salary out of my Business Bank Account. My accountant has mentioned the mode of transfer as BACS in my payslip. Now, is it required for me to set up BACS for paying out of my salary or would it be alright to just do an online transfer to my personal account. I...
  11. B

    New to Limited Company

    I had a question on this minimum wage thing. Will getting a minimum wage affect the credit rating in anyway, like, for eg, when a credit card has to be applied, is there a chance for the bank to come back and say that the salary is too low and we cannot issue a credit card ?? When we thought of...
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    Expenses related to the Limited Company.

    Thank you so much!
  13. B

    Expenses related to the Limited Company.

    Hi Sue, Sorry, If I am bothering you again. I just wanted to reconfirm. Are you saying , yes, that I can pay out from my personal account but buy it on the company's name and claim that as an expense. Thank you.
  14. B

    Expenses related to the Limited Company.

    Hi, I set up my limited company 2 weeks back and got my business bank account opened. My payment will be in only next month. Now, I want to buy an IPad for company's use. Since I do not have money in my business bank account, would it be alright to get it in the company name and pay it out of...
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    Business Bank account.

    Oh, I was not aware of that. My accountant said that it is just fine to have a 50/50 split. I will need to check on this then.
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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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