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Recent content by NeverBackToPerm

  1. N

    Can salary ever be not deductible for CT purposes?

    Well obviously nobody explained it to my accountant and I get a deja vu moment every time I read one of your troll posts.
  2. N

    Can salary ever be not deductible for CT purposes?

    I didn't explain myself very well but I think this is exactly what my accountant is disagreeing with: "You wouldn't be able to draw a salary, without including this as a business expense, as by its very nature an employee salary is an expense."
  3. N

    Can salary ever be not deductible for CT purposes?

    Nope. If you had read the post properly you would have understood that I was trying to follow the advice and not carry back a loss. As an aside, from your responses to me and others, it seems like you get off on talking down to people and being rude. I find this behaviour unacceptable and will...
  4. N

    Can salary ever be not deductible for CT purposes?

    Thank you. I had assumed that the process was that the salary created a loss and then you just didn't carry it back or forward rather than not creating the loss in the first place by calling it a non business expense. Is it reasonable then to process salary when you are not calling it a business...
  5. N

    Can salary ever be not deductible for CT purposes?

    My ltd made a loss due to the payment of salary while there was no revenue. My accountant has said that it is difficult to justify paying salary when not trading. I took this to mean that it would not be appropriate to offset the loss against the previous year for CT purposes (which people...
  6. N

    Carrying back losses and the definition of trading

    Thanks to everyone for the input. I will follow my accountant's advice and not offset the loss. I've been a bit lazy in the past, taking breaks between contracts and waiting for lucrative and/or interesting ones. I do not think that being selective means I wasn't genuinely trading. However I...
  7. N

    Carrying back losses and the definition of trading

    My last contract ended in March 21 and my company year runs to end Nov so my ltd company made a profit and paid tax in year end Nov21 but did not bring in any revenue in year end Nov22. On a few occasions my accountant has said that it is difficult to justify paying myself a salary and...
  8. N

    Is lack of a genuine right of substitution an automatic IR35 fail?

    It was the working practices that failed, the contract passed. I asked them for a separate document containing just the contract review element that didn't have "INSIDE IR35 Due to WP" in big red lettters on the front but they refused!
  9. N

    Is lack of a genuine right of substitution an automatic IR35 fail?

    I had a QDOS full review. The contract passed but the working practices (and hence the overall assessment) came back as a fail solely due to me saying that in practice the client would probably invoke their right to terminate without notice rather than accept my contractual right to substitute...
  10. N

    Subcontract with a consultancy

    Thanks for the detailed response. I meant from the client's perspective indistinguishable from a permie at the consultancy, i.e. client asks consultancy to carry out a project, consultancy sends me, client doesn't know whether I'm a permie at the consultancy or subcontracting with the...
  11. N

    Subcontract with a consultancy

    Yes, private sector post April 2020. I found a few threads on here discussing the difference between contractor -> agency -> client and contractor -> consultancy -> client but it didn't seem like any firm conclusions were reached. It feels a bit different because the consultancy is responsible...
  12. N

    Subcontract with a consultancy

    I have a subcontractor agreement with a consultancy to "support the provision of consultancy services to third parties". I am exclusively working on projects for one end client. The contract does not name the end client or detail the specific projects but the consultancy has a separate contract...
  13. N

    Take a big dividend this year?

    No wife/significant other. Not close to retirement so can't get it out quickly via pension. Accountant just says more tax efficient to keep on taking £40K a year out until close the company but that could be a long way off.
  14. N

    Take a big dividend this year?

    I currently have around £220K in my company and have already taken salary and dividends up to the higher rate tax limit. I'm mulling over whether I should take out a large additional dividend to bring my annual income up to £100K and take the 25% hit because: 1. If I take it out in later years...
  15. N

    Win £500 with the ContractorUK Fantasy Football League

    In with my team Valar Demichelis.
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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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