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Recent content by Danbro
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Parasol - Employment Costs - extra charges??
The difference being that this has been published from an independent body that specialise in compliance within the contractor market. A supporting document should they need it.- Danbro
- Post #46
- Forum: Umbrella Companies
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Parasol - Employment Costs - extra charges??
Danbro Danbro Hi Everyone, We welcome the opportunity to see whether we could be of any assistance to you during this turbulent time. We are clear, concise and compliant and have a facebook group full of happy clients to support it. Please feel free to get in touch- Danbro
- Post #36
- Forum: Umbrella Companies
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Potential Silly VAT query
Potential silly VAT query Potential silly VAT query Turnover in respect of the £150k limit is your sales income excluding VAT, i.e. what you invoice your agency / end client before charging VAT. This would be your turnover figure on your CT600 if you operated a normal VAT scheme or indeed...- Danbro
- Post #9
- Forum: Accounting / Legal
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What after 40K limit?
Higher Rate Tax On Dividends Higher Rate Tax On Dividends Without getting into exact figuires on bandings, personal tax on dividends that fall into the higher rate tax bracket are taxed at 25%. You need to ensure that your total income for the tax year doesnt exceed £100k as you will start...- Danbro
- Post #3
- Forum: Accounting / Legal
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What do you think about the agency workers regulations?
Hi Everyone, I just wanted to see if i could get some opinons surronding the agency workers regulations (AWR). The fundamental principle of the AWR is to provide agency workers with the same basic working and employment conditions as an equivalent permanent employee after a qualifying period...- Danbro
- Thread
- Replies: 20
- Forum: Business / Contracts
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Venture Capital Trusts
Venture Capital Trust Venture Capital Trust The tax you pay on dividends is 'Income Tax' so yes the relief should be available to set off against your dividend tax. Thanks Neil- Danbro
- Post #5
- Forum: Accounting / Legal
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Venture Capital Trusts
Venture Capital Trusts Hi BrandNewCUKUser, if you subscribe for new ordinary shares in a VCT, you can claim income tax relief at 30% on up to £200,000 pa. This is subject to you have sufficient income tax payable to absorb the relief. There are other tax reliefs, such as not income tax on...- Danbro
- Post #2
- Forum: Accounting / Legal
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Moving to Germany. Who to inform, P85?, NHS?
We liaise with HMRC on behalf of the contractors we deal with in Germany and they do seem to have a huge backlog at the minute when it comes to acknowledging P85’s. It Can take months to get a response. For the OP: As already mentioned, when you role over the 183 days in any 12month period...- Danbro
- Post #10
- Forum: Business / Contracts
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Clearsky accounting (formerly Quay) - price hike
Danbro Accounting Ltd - Can we help? Danbro Accounting Ltd - Can we help? Post removed - Blatant advertising. There are an awful lot of other 'newbie' posters touting for business as well - please respect the rules. Thank you, CUK.- Danbro
- Post #60
- Forum: Accounting / Legal
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Making more money
Making more money You can invest your company money into the items, salt maybe a more short term investment or long term if the snow clears this week, may have to wait another 30 years for these conditions, anyway.... Although you can make such investments via your company, from a tax point a...- Danbro
- Post #2
- Forum: Accounting / Legal
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Director loans
When I give advice I always try and split the 2 issues here 1) Benefit in Kind - If loan less than £5k no taxable benefit, so no 12.8% class 1a and no income tax at 20 / 40% on cash equivalent of loan, ie interest at 4.75% 2) S419 charge - Effectively any loan outstanding 9m and 1 day attracts...- Danbro
- Post #2
- Forum: Accounting / Legal
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Entrepreneurs' Relief
Er Er Although not really in legislation, HMRC consider a company to be an investment company ( not trading ) if the company has more than 20% in investments. The 20% can be viewed as assets, turnover, management time. It will be HMRC who would view your company to be trading or not, If you...- Danbro
- Post #2
- Forum: Accounting / Legal
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VAT on expenses abroad
VAT on expenses VAT on expenses HI, I have come across this a lot recently, appears agencies are tightening their belts. The issue here is if you should charge the agency the £150 or £170, I am unaware of any specific rules on this, its more a commercial decision by the agency, generally...- Danbro
- Post #8
- Forum: Accounting / Legal
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Using Director Loan for Offset Mortgage
Directors Loan Directors Loan Hi, You just need to remember the S419 charge of 25% of any directors loans still outstanding in 9months 1 day after your year end. You will get this refunded 9 months after the accounting period in which the loan is repaid, so really if you incur this and...- Danbro
- Post #3
- Forum: Accounting / Legal
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HMRC interest on loan
Directors Loan Directors Loan Hi css_jay Taking a directors loan has 2 consequences 1) BIK on interest free loan - any amount more than £5k is deemed a BIK if no interest is paid, my advice is to pay interest of 4.75% ( new reduced IR approved rate), no benefit will then arise 2) if the...- Danbro
- Post #9
- Forum: Accounting / Legal
