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Recent content by nato

  1. N

    Fixed Rate Vat

    :facepalm:
  2. N

    Dividend Confusion

    Thanks everyone. I think there has just been a miscommunication between me and the accountant and I after your advice I now feel I am firmer ground to argue the point. :fight: I certainly do have dividend certificates so I shall put those together and forward them.
  3. N

    Dividend Confusion

    The share split is 66/34 and has been applied as such. However the accountant has applied it to the total yearly dividend take and not just the dividends taken since my wife was appointed.
  4. N

    Dividend Confusion

    I'll get straight to the point. Started the ltd co last year and ran for 8 months as sole director (business started 2 months after co. opening) taking dividends as necessary. At Christmas I brought on my wife as a director with a relative share ratio and then split the following dividends as...
  5. N

    Recieving dividend payments from family then sending it to them as gift, is it legal?

    What kind of parent puts their children in this position! :eyes As said already this sounds as dodgy as it is. I would kindly decline if I was you. Sorry for you circumstances.
  6. N

    Bit of a One-Off

    It is a fortunate position to be in and I can only imagine how much it hurts to see the war chest grow knowing its going to cost a fat wad to get to it... just think of the retirement though.
  7. N

    Bit of a One-Off

    To answer NLUK, I think pr1 might have taken your comment as sarcastic, and knowing MrsN's plans I would too. We have a 7 month old so she will only be taking on a maximum of 2 children for the foreseeable future (leaving plenty of time to open letters and sign some paperwork). Not sure how much...
  8. N

    Bit of a One-Off

    The original question was a general one so for the sake of keeping the OP to the point I didn't disclose every detail of my financial and personal situation. To clarify my accountant merely made a passing comment that I have been looking into and is yet to see my books as I am moving to her...
  9. N

    Bit of a One-Off

    Thanks guys for the clarification I will make sure my calcs work it out that way. Considering the childminding turn over will rarely top £10k I think I will go the separate root as has been suggested. CUK saves the poor contractor again :smokin
  10. N

    Bit of a One-Off

    I'm an automotive design engineer working in Design so my math is probably out, but I figure that if I came off the flat rate I would lose the 9% I currently make on £70k. Is there another way to claim VAT?
  11. N

    Bit of a One-Off

    At the moment I'm on 11% VAT rate as it is my first year so a loss of about £7k over the year. Think I will just get the accountant to work more and keep them separate. They are worth their weight in gold but I don't think the accountant could charge that much for a simple end of year tax return.
  12. N

    Bit of a One-Off

    Looks like Cycler is right and Flat rate VAT is charged on all income whether it is exempt or not. That would take a big chunk out of any benefit. I knew there would be a catch somewhere. Thanks guys.
  13. N

    Bit of a One-Off

    I dunno NLUK you might have some good banter with the users on mumsnet. Quite opinionated. :throw: Good suggestion though and I have done a good search for this topic but in general childminders don't want the costs of running a company so stick with sole trading. Cycler- Could I not invoice...
  14. N

    Bit of a One-Off

    Thanks guys for the comments. Unfortunately pr1 is right, there is no VAT on childcare. If my wife has her own public liability insurance does the company still need its own public liability to cover her? I guess it would be like car insurance, as the car would be insured for business use so...
  15. N

    Bit of a One-Off

    :D Ha, Thanks NLUK. I trust them. I would just like to make sure the i's and t's are sorted.
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  1. Contracting
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      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
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    5. Welcome / FAQs
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