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Recent content by ConcernedCitizen
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Providing fair value of assets for closure - where do you draw the line
Makes sense - thank you for clarification on this. Well, I simply do not quite fancy going through years worth of spreadsheets and catalogue every little item I have bought and finding a sensible current price for it. Hence asking for some sensible de minimis threshold (would not be too...- ConcernedCitizen
- Post #4
- Forum: Accounting / Legal
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Providing fair value of assets for closure - where do you draw the line
Question of fair asset values of company used for contracting... I have read the threads and the advice is conflicting. How do you generally determine what counts as an asset? Things such as a laptop or mobile appear to be obvious but what if they have been expensed rather than treated as...- ConcernedCitizen
- Thread
- Replies: 6
- Forum: Accounting / Legal
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Working via an umbrella - max possible tax saving / pension contribution
Thank you for clarification. It sounds like the right solution. I will do a few more checks with the accountant to make sure it will be a sensible way forward in my situation.- ConcernedCitizen
- Post #9
- Forum: Umbrella Companies
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Working via an umbrella - max possible tax saving / pension contribution
Thanks - will check... as in Clarity Umbrella Ltd?- ConcernedCitizen
- Post #5
- Forum: Umbrella Companies
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Working via an umbrella - max possible tax saving / pension contribution
I had some perm roles in the past and each of them had a private pension scheme so I'm assuming this would count in terms of giving me the £40k allowance for each year (I contributed minimally). Feels like my main question which is whether the pension is deducted before Employers NI is still...- ConcernedCitizen
- Post #4
- Forum: Umbrella Companies
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Working via an umbrella - max possible tax saving / pension contribution
The option I am considering now is moving the contract into an umbrella company so that I can proceed with company closure (currently contracting via Ltd). The umbrella tax bill is horrendous... it's a fact. Since my pension balance is very low I thought about doing the umbrella thing and...- ConcernedCitizen
- Thread
- Replies: 8
- Forum: Umbrella Companies
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ER and MVL in the next few months?
In this case it looks like it is sufficient to leave £12,300 for the next tax year as anything above will be taxed linearly as CGT. Hm... so why do people say the process can take around 6 months + some are waiting for HMRC decision if the relevant date is that when liquidator transfers the...- ConcernedCitizen
- Post #10
- Forum: Accounting / Legal
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ER and MVL in the next few months?
I like how positive people on here are on the timelines. No major changes in October is a popular opinion in general but I'm considering all scenarios. So... assuming "some unfavourable (as definitely will not be favourable!)" CGT change from next tax year is it sufficient that liquidator...- ConcernedCitizen
- Post #8
- Forum: Accounting / Legal
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ER and MVL in the next few months?
Long time reader, first time poster. The forum is the best source of information but this is recent so haven't been able to find the relevant thread. Essentially, I have woke up to the reality of what might be happening soon with the ER and CGT reforms to pay for all the Covid-19 spending...- ConcernedCitizen
- Thread
- cgt mlv
- Replies: 11
- Forum: Accounting / Legal
