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Recent content by concord

  1. C

    Just got an ICO begging letter

    Thanks! I missed that post and my accountant only sent a scan of the front side of the letter.
  2. C

    Just got an ICO begging letter

    If you've determined that the business is exempt, do you need to register that anywhere? Will they send a similar letter in the post every year?
  3. C

    MVL or keeping company around?

    Yes, the risk is that the dividend tax rates are increased. Even still, if she just drew up to the tax free allowance for a number of years, that helps with childcare etc. My accountant wasn’t so sure about the Business Asset Disposal Relief rules and the 2 year waiting period that I think...
  4. C

    MVL or keeping company around?

    I am considering moving to a permanent role. A few weeks ago I posted some questions about MVL assuming that was the best option. I thought about it some more over the holidays and had a different thought. What if I instead gifted my wife the remaining the shares in the company? She could pay...
  5. C

    Question about Business Asset Disposal Relief qualifying period

    Thank you. I think this has helped clear up my confusion. For some reason I thought that the liquidator dealt with BADR and that any CGT was withheld by the liquidator before transferring the funds. I think this perfectly legal but if she wanted to do that, could it seem dodgy or cause...
  6. C

    Question about Business Asset Disposal Relief qualifying period

    My goal now is to figure out what to do with my company if I were to take on a permanent role. Because I gifted my wife 30% of the company earlier this year, my understanding is that she wouldn't qualify for the Business Asset Disposal Relief on her shares until early 2022. Should we wait to...
  7. C

    Question about Business Asset Disposal Relief qualifying period

    I only wanted to know if continuing to work on a non-client project part time would mean the company was still considered trading. I referenced the expenses to highlight that the company still wouldn't be earning money, just spending a tiny bit on hosting to keep the project development going...
  8. C

    Question about Business Asset Disposal Relief qualifying period

    Hello. There seem to be a lot of threads recently about MVL so I'll try to keep this short. Also, I will discuss this with my accountant but I still want to ask here since others have experience with it. I'm considering a permanent role and what I need to do with my current business if I...
  9. C

    6 April deadline

    I did think about that but it was late. Even if it wasn't the case, I would have had a long time to figure out how to submit her self assessment. Lesson learned.
  10. C

    6 April deadline

    She was recently gifted shares and so she would require a self assessment for the 19/20 tax year to account for the tiny dividend payment. My accountant would charge for preparing that so it wouldn't be worth it.
  11. C

    6 April deadline

    No, actually I don't. I had a moment of inspiration from this thread but then realised my wife would need to file a self assessment. While it's probably dead simple, my accountant handles that and the fee would outweigh the dividend.
  12. C

    6 April deadline

    My company pays an annual dividend and I factor in expected income from a savings account. I noticed that because interest rates were lowered, I have about £125 remaining to reach the lower tax limit. Has anyone's company paid such a small dividend? Thanks.
  13. C

    Trivial Benefits - payable per company/directorship?

    I just learned about this so I'll be gifting each director 3 gift cards this week. Tough times ahead so we need to use the tools available to us. I don't have any moral qualms about it.
  14. C

    Trivial Benefits - payable per company/directorship?

    Can the company reclaim VAT on trivial benefits? I presume any gift card that says in the T&Cs "cannot be exchanged for cash" is valid? Sometimes a shop will give cash if the value left is less than a certain amount so you would need to stay away from those. This should be good for an Easter...
  15. C

    Childcare costs through limited company

    I'm actually not sure if GhostofTarbera responded "no" to the question about dividend income or about her director's salary. It says here on the gov.uk site: So if she earns £719 a month through PAYE, doesn't that meet the requirement here? I'm also wondering if when an official document...
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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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