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Recent content by contractmonkey

  1. C

    Contractor's car park @ Vodafone Newbury HQ..??

    I was there about 12 months ago on a six month contract. Voda will issue you with a free parking pass to one of the car parks in central Newbury, then you can get the free bus to Voda HQ. It's a massive bugbear for a lot of contractors as it can add significant time to your journey, especially...
  2. C

    Agency have put wrong daily rate on contract and have only just noticed...2 months in

    UPDATE: OK, finally all resolved. I eventually got to the bottom of the rate % and I was given duff info. Strange that from an agency :-) By the time they got it all sorted they had overpaid me £4800. I negotiated a reduced amount to pay back of £3300 for my inconvenience. Paid back over 3...
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    Agency have put wrong daily rate on contract and have only just noticed...2 months in

    History: I started a 6 month contract 2 months ago and had agreed a rate (x) with the agency. When my contract came through it was rate (y) (an additional £100 per day.) The agency have effectively put the client rate down that they are charging me out at rather than what I agreed with them...
  4. C

    Using Ltd Company Property as collateral for a buy-to-let

    Excellent, thanks for the info. When you talk about a broker are you talking about a property broker or loan/mortgage broker?
  5. C

    Using Ltd Company Property as collateral for a buy-to-let

    I have a Ltd company that both my wife and and work through and are joint 50:50 Directors. Using company profits we used the Ltd company to purchase a property 4 years ago in Spain. We use it every month and declare it as a benefit in kind as it's not let out. We would like to use this...
  6. C

    Working in Egypt

    I worked there for 9 months in 2001 and lets just say the Egyptian employer was quite lax about this with me. The company (a large ISP that is still in business) were more than happy to pay me wherever I wanted and preferred it that I didn't have the necessary work permits in place. I had a...
  7. C

    UK LTD owns overseas property, can I use company profit to invest in property

    And in my case, the company offers IT and HR Consultancy services (my wife and I). The property was purely just for investment and a way to spend some of the built up profit on the business.
  8. C

    UK LTD owns overseas property, can I use company profit to invest in property

    It avoids the long Spanish inheritance tax issues associated with any property owned by an individual. And in the UK all you are doing is passing over Shares to your kids, not transferring assets.
  9. C

    UK LTD owns overseas property, can I use company profit to invest in property

    There is no BIK so not declarable. I did a lot of background work on this before it was purchased. The only hit will be CGT once it's sold. Bens of doing it through the company: 1 - Avoids inheritance tax - Company is left to kids 2 - Avoids personal taxation Anyway, I didn't want this to...
  10. C

    UK LTD owns overseas property, can I use company profit to invest in property

    I have a European (Spanish) overseas property that was purchased through my UK Ltd company. The property has no mortgage. It generates no profit for the business as it is only used by the Directors. My question is this: Can I use company profits to improve the property? Examples of this...
  11. C

    Buying Spanish Property Via Ltd Company to reduce tax burden

    Thanks for the feedback. To give a bit more background here: The property will be residential but will not generate an income as it will purely be used for holidays for family members. Aim is to hold it long term 20+ years Playing devils advocate here: ~ simplicity How is it more difficult...
  12. C

    Buying Spanish Property Via Ltd Company to reduce tax burden

    Thanks for the reply and the hints for the search function. I have already searched but can't find anything specifically related to my situation as I'm transferring money into the company via the loan account, purely to avoid having to pay back the loan out of dividends money that will be...
  13. C

    Buying Spanish Property Via Ltd Company to reduce tax burden

    Hi, My wife and I are both contractors and have a Ltd company we work through. We use this to pay ourselves a basic salary and dividends, kepping some money in the business. We have just been loaned £100,000 to be paid back over 24 months by a family member to purchase a property in Spain...
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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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