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Mine is a minority view on these boards - but I do exactly what you are proposing, with one important caveat. I do use an acountant for preparing end of year accounts and calculating and filing relevant paperwork for Corporation Tax. I also use him for ad hoc advice as and when I need it...
We will agree to differ. I'm not claiming everyone would want to do this. But I don't think the admin time I spend is significantly more than you would spend filling in a spreadhseet or providing documentation to your accountant. PAYE takes literally 10 minutes a month. VAT takes about 10...
The commonly recommended accountants on this board (ie Nixon Williams, SJD, 1stAccountancy) all provide an "all in" service for contractors for about £65-£70 per month.
However, there seems little alternative to this all in service. Personally I'm happy to do PAYE, VAT, P35's, P14's etc myself...
Since CTax is increasing from 19% to 20% from April, I am trying to figure out the most cost effective way of invoicing and making purchases.
My company tax year ends 30 September. How is corporation tax calculated when my company tax year spans two corporation tax rates?
Is this correct...
Seems I am in the minority who disagree.
Why do we all use an accountant? Because they are specialists, have greater and focused knowledge and (as often argued here) will cost less than they save you. My view is that a good IFA will be the same. Sure you can look at Motley Fool all day and...
YourCo can charge ClientCo as much or as little as it wants. It doesn't have to have any bearing on how much you (as a director) claims from YourCo.
But the 2 year rule still applies to YOU. So claiming the 40p per mile after knowing that you will be there for 2+years is breaking the rules.
The IT Manager of a construction company that doesn't even have its own email system its seems. I wonder if all his/her staff use Yahoo email addresses.
I recall a few years ago there was a woman lawyer who claimed she had to wear black or dark clothing when in court and claimed it as a business expense as she would never wear such clothing outside of work - and therefore considered it an expense incurred solely as a result of her being a...
Plymouth Argyle.
In the 1/4 finals of the FA Cup for the first time in 23 years. And, given a home tie against Watford on 11 March, a good chance of reaching the semis.
You can only pay dividends in proportion to the shareholding (assuming equal status shares),. You can't choose to pay one shareholder divis, but not the other(s).
Dividends are paid to shareholders, not employees. You don't have to be an employee to be a shareholder and you don't have to be a shareholder to be an employee. Of course, she maybe an employee AND a shareholder - but there is massive difference between the two. If she is an employee but not...