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Recent content by VFV

  1. V

    MVL from abroad

    I did exactly that last year with the help of MVL Online,the service I received was excellent and the process run smoothly despite me being abroad at the time. Highly recommended.
  2. V

    Final accounts VAT question

    I am in the process of shutting down my LTD ahead of an MVL. I have contacted HMRC to deregister for VAT and PAYE purposes, and specifically for VAT i was advised that it will take up to 4 weeks to process the closure and issue a final VAT return for me to submit. Can i submit my final accounts...
  3. V

    Lump sum salary payment

    I will be shutting down my LTD in November and wonder if there are any implications of paying myself a lump sum as salary? I have been paying myself a salary of £670 since April and plan to pay 670*5 in November to take full advantage of my allowance. I am taking a break so the assumption is...
  4. V

    Returning to UK after a year abroad- relocation claim possible?

    Strictly speaking the employer here is my Ltd and not the client so one can argue that whether the Ltd has contracts or not is irrelevant? Also doing the groundwork to secure contracts isn't in itself a task that I, as an employee, undertake for the Ltd, that requires me to relocate and...
  5. V

    Returning to UK after a year abroad- relocation claim possible?

    I set up my Ltd in Oct-2010 and contracted until January 2012, at which point my contract expired, i left my rented accommodation in London and moved to another EU country. The purpose of the move wasn't business related ( i had to do my -compulsory- military service). I returned to London in...
  6. V

    Retained earnings/Dividends timing prior to tax year end

    Quick check on my understanding of the timing of revenue recognition and dividends. Firstly, I can include the amount of an unpaid invoice in my retained earnings from the time it is sent to my agent- so although my March invoice won't be paid until late in April the associated income can be...
  7. V

    Paying yourself and spouse wages....

    Thanks for the reply. I send a few hundred every month to support him with his studies anyway, so a working arrangement with a tax benefit on top would work out very well.
  8. V

    Paying yourself and spouse wages....

    Relevant question so I post here instead of starting a new thread. I am looking at the possibility of employing my younger brother (living and studying in Greece) as an assistant in my Ltd co, to look after the usual general admin for a salary just below the NI threshold. The issue of whether...
  9. V

    Personal tax return question

    thanks guys, good points
  10. V

    Personal tax return question

    I don't have one, i do the record keeping myself.
  11. V

    Personal tax return question

    I started contracting in Sep10 through my Ltd company and paid myseld no salary till April11, as i had already received salaries above my PA from my previous employment. Do i still need to fill in an 'Employment' page despite having zero salary from the company? Thanks in advance
  12. V

    New agency workers law

    In case this hasn't been posted already BBC News - Agency workers get greater work rights from 1 October Agency workers are set to gain additional rights in pay and benefits under new rules that come into force on Saturday. Workers will gain similar rights to full-time staff once they have...
  13. V

    Using PayPal for currency exchange

    If you are sending more than say £1,000 (i presume you are) even small FX rates will have a tangible impact in your pocket, so i would never go with Paypal. I bought an item on ebay a few days ago in EUR and the implied commission from the EUR/GBP rate they applied to the invoice was ~3%. Your...
  14. V

    Payroll records-are they needed if total salary < PA?

    I am planning to start paying myself a monthly salary just below 1/12 of the yearly tax free allowance. Will i need to keep any special payroll records and submit returns to HMRC even if i owe no PAYE and NI? Thanks
  15. V

    Overpaid dividend

    Thanks a lot for the info guys. My Ltd year end is in October so there won't a problem with outstanding director loans at year end. Btw do you prepare any paperwork for director loans? And as the loan will be less than £5k it is ok to issue at 0% interest? Thanks again
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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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