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Recent content by decentguy

  1. D

    Closing the company - Steps required please

    Salary payment done - paid 7000....so no extra tax for wifey Dividend payment for this year..being done - about 34k For rest of the fund in company we are either going through ESC16 or just CGT. Not decided yet.. Still researching what is best option
  2. D

    Closing the company - Steps required please

    Basically I gave up my 50% shareholdership to my wife who is now 100% shareholder. She is currently unemployed so any proceedings from closing the company will go to her and she can take majority of benefit from tax perspective. I did not wanted that burden as I am already paying lot of tax as...
  3. D

    Closing the company - Steps required please

    Many thanks. Precisely what I was looking for. Will review it and also ensure that my accountant (a very small firm) is aware of all points mentioned
  4. D

    Closing the company - Steps required please

    Hi I am in process of closing my company as I have found a new permie role. What are the steps required in order to ensure that I pay least tax of course So far I have paid last year's corporation tax Paid all VAT My contracting company does not have any income anymore as my contract is...
  5. D

    How do you manage your Ltd Co Surplus cash?

    Definetely seems that terms and conditions have changed. When I opened it, month in which you make withdrawal, you get lower interest rate. From what I see now, you can only make 1 withdrawal iin first 12 months which sucks.
  6. D

    Converting to Permie - Query on closing Ltd company

    Hmm I spoke to my accountant and he is of opinion that its best if I give 100% shareholdership to my wife and then file for ESC C16. Reason he believes is that because I am working as a permie now, I will have a high personal tax to pay if I split company income 50-50 between myself and my...
  7. D

    How do you manage your Ltd Co Surplus cash?

    I have opened a business savings account with santander and gives me safe 1.8% interest rate. I know its not high but at least its better than 0.1% offered by business current account Best thing about this account is that money can be transferred anytime in case you need it for a rainy day
  8. D

    Converting to Permie - Query on closing Ltd company

    Many thanks. I am going to do my research on this and advise my accountant accordingly. Sounds like a great way to close company if I can get hold of money within 2-3 months of closing company (hope HMRC approval does not take too long) Thanks again
  9. D

    Converting to Permie - Query on closing Ltd company

    Hi Guys I thought I will never do this but it is happening. I am converting from a contractor to a permie role. Team lead role, VP etc etc has tempted me to give a go (Money (salary and guaranteed bonus) is pretty good too from a permanent perspective) Anyway, I now have to close my company...
  10. D

    Working overseas for 2 weeks

    Question is client is payin for flights and accomodation. What expense can MyCo (my limited company as a contractor) can claim...
  11. D

    Working overseas for 2 weeks

    Thanks guys Just wanted to clarify that client is buying ticket for me and booking accomodation. So no need for me to claim anything back... Just wanted to know more about food, travel from hotel to office etc. I just rang my accountant and he says I can claim £25 per day subsitence whilst...
  12. D

    Working overseas for 2 weeks

    Hi I am currently contracting in London and my client wants me to train a new overseas team for couple of weeks. My client is willing to pay for flights and accomodation for this trip However, I was wondering what I can claim from MyCo. for this trip. Subsistence, food, travel to-from hotel...
  13. D

    Contracting in US

    Hello I am currently contracting in UK. An opportunity has just come up (very very initial stages) for contracting role in US. As I dont know anything about contracting in US, I would like to put this question on floor and see if you can provide any information (mainly after tax, rates...
  14. D

    Programme/ Senior Project Manager rates in Amsterdam

    Just 2 weeks ago I was offered a role as Senior BA in a bank for 80 Euros per hour... Unfortunately few things did not work out so I had to let go of that opprotunity. Being paid by hour is good which means if you work extra hours, you still get paid as opposed to day rate contracts in UK
  15. D

    Max Dividend Question

    Sometimes unqualified people with practical experience has more knowledge than qualified accountants...My accountant is 1 man army so no partner I am afraid. Thanks..;-)
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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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