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Recent content by tbrain

  1. T

    Incorrectly assumed VAT charged on monthly season ticket

    Response from accountant. Apparently it is always the gross amount that is processed, so no problems...
  2. T

    Incorrectly assumed VAT charged on monthly season ticket

    Thanks all. I've queried this with the accountants, so I'll let you know what they have to say...
  3. T

    Incorrectly assumed VAT charged on monthly season ticket

    Had done, but didn't want to go making work for myself & wanted to guage everyones opinions before doing so...
  4. T

    Incorrectly assumed VAT charged on monthly season ticket

    For years I've been submitting monthly season train ticket expenses, and when doing so have made the assumption that VAT is charged on these tickets at 20% So, when submitting my monthly expenses to the accountant for a train ticket of e.g. £960, have submitted expenses of £800 net, £160 VAT...
  5. T

    Worried if i turn down extension I will be axed

    M&S are more of a retailer than a supermarket! Spent 18 months there, getting paid to spend 1.5 hours (most days) on the shuttle bus to Stockley Park!
  6. T

    Personal Pension Contributions & Basic Rate Limit

    Ta
  7. T

    Personal Pension Contributions & Basic Rate Limit

    Hi, As we approach the end of 11/12 tax year, as always I like to make sure that I have maximised the amount that I can pay myself before incurring any higher rate tax liability. Scenario: This year I have paid myself £7367 in directors fees, and £31800 net or £35333 gross dividends, a total...
  8. T

    Self Assessment, P11D & Business Expenses

    Mileage was paid at approved HMRC rates, therefore a little confused as to why it was on my P11D. It's also definitely not £6,000 over and above the approved rates / limits either. Who's the best port of call for understanding exactly what makes up the figure on the P11D? Ex-employer, accountant?
  9. T

    Self Assessment, P11D & Business Expenses

    Hi there, I started my own limited company in September 2010, and so I am currently filling in my self-assessment for 2010/11. Between April 2011 & September 2011, I worked as a permanent employee and incurred almost £6000 of business travel expenses, all mileage for using my personal car to...
  10. T

    Mitigate Higher Rate Tax Liability

    My accountant is currently looking into this & is getting back to me today with some options. Guess this was just a thread to hopefully validate his findings! On a long month e.g 25 days, a dividend of circa 8.5k is the norm for me...
  11. T

    Mitigate Higher Rate Tax Liability

    I completely agree with you guys. Unfortunately, I imagine that HRMC will have a few things to say about me paying my unmarried other half 40 odd grand a year in order to mitigate HRT...
  12. T

    Mitigate Higher Rate Tax Liability

    Administrator, manages the books etc.
  13. T

    Mitigate Higher Rate Tax Liability

    The position on second shareholders has only been formally clarified for shareholders who are married to each other or are in civil partnerships. For unmarried couples, the line is that dividends paid to the second shareholder must represent their role in the business. Interestingly, I asked my...
  14. T

    Mitigate Higher Rate Tax Liability

    Makes sense now. Ta for the input guys!
  15. T

    Mitigate Higher Rate Tax Liability

    Probably being a bit of a dufus, but using a scenario of being in employment for 10 out of 12 months per annum at with an average salary & gross dividend payment of £9000 per month (excluding VAT), it would take approx. 5 months to reach the HRT bracket. So, after having worked for 10 months I...
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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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