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Recent content by EchoSierra

  1. E

    Tax man wrote to say I owe PAYE/NIC

    Yeah, why is it that every letter I get from HMRC is dated at least a week before its in my mailbox?!
  2. E

    Tax man wrote to say I owe PAYE/NIC

    Thanks for the reply. I only started the company from mid-Apr 2008 so it can only go back to the 08/09 tax year. Before that I was using an umbrella company.
  3. E

    Tax man wrote to say I owe PAYE/NIC

    haha It could be that some of my reference numbers weren't exactly right because I didn't know that for 09/10 the reference is 10MM and not 09MM. They've managed to improve that section now: HM Revenue & Customs: How to pay PAYE/Class 1 National Insurance contributions
  4. E

    Tax man wrote to say I owe PAYE/NIC

    I got a letter from HMRC alleging that I owe about £1000 in unpaid PAYE/NIC. No other information relating to what tax year, what I owe compared to what they've received - nothing except the statement of "PAYE/NIC amount overdue plus interest £1000". I'm diligent on what I owe with VAT, Corp...
  5. E

    UK VAT while working abroad

    Hmmm... a whole bunch of assumptions and every permutation possible but, nope, you're wrong, DS23 is right.
  6. E

    UK VAT while working abroad

    Hey DS23, Thanks for the link; very useful. My place of supply is South Africa so I'm outside UK and EU VAT. The special rules don't apply as I'm supplying standard IT/business analysis services and am physically located in South Africa. Bring on the World Cup!!
  7. E

    UK VAT while working abroad

    OK, if I'm working overseas and the company that is paying me says that it cannot/does not pay the 17.5% UK VAT how does that impact my Ltd Company that is based in the UK? Do I take my total amount of revenue, slice off the 17.5% VAT to give to HMRC and what's left is "my" money? Or am I...
  8. E

    Flat Rate scheme VAT reclaim for assets

    If your primary job/salaried income is programming and you have a side job (photography) that you buy equipment for, how much money, if any, do you need to make from photography to allow you to justify claiming the camera equipment expense? Interested to know as I'd like to buy a DSLR soon.
  9. E

    Dividends..how much and implications?

    Yeah, I've heard that as well but its not very tax efficient. You've got a Personal Allowance of £6,475 in the 09/10 tax year which means you pay zero tax on that so why would you have that as a div and pay 21% CT on it? As I said, I've heard of people doing this, but don't understand the...
  10. E

    Loss on Shares through Ltd Company - Treatment?

    Not 100% sure but if you made a profit via share trading with the Ltd Company you'd have to pay CT on it...
  11. E

    Loss on Shares through Ltd Company - Treatment?

    Technically you are only allowed to buy shares through your Ltd Company if the share trading account is in your Ltd Company name. (TD Waterhouse offers such a service). If this is not the case then to avoid any illegality that £5000 should be treated as a Director's loan to you. It therefore...
  12. E

    Invoice underpayments

    haha somebody at the agency must have had a sense of humour... ;)
  13. E

    HMRC late payment what happens?

    How do you find out if you're supposedly to be paying it monthly, quarterly or bi-annually? I never got any notification and after catching up on payments I have been paying it monthly via internet (http://www.hmrc.gov.uk/payinghmrc/paye.htm#3)
  14. E

    P14 question

    haha your advice is about 2 weeks too late and if I wanted to wait on hold for 30mins and be given useless information by HMRC I wouldn't have posted on this forum!
  15. E

    11 day contract (spread over two months)

    I've seen these ads as well. Depends on your personal circumstances I guess though i've never done any before. In this environment I'd consider it since its a choice between some work (and possible extension) and no work...
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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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