Reply to: Subsistence claims and receipts

[Waldorf]

I had a quote from an accountancy firm and the composite offered a greater take home %. I also take time off between contracts so the no work no fee arrangement suits me better too.

Anyone can say they will leave you with more of your money, doesn't make it legal or the way to go.

[monkeygeorge]

Thanks Alan, but I had a quote from an accountancy firm and the composite offered a greater take home %. I also take time off between contracts so the no work no fee arrangement suits me better too.

[Nixon Williams]

Basically I'm with a managed Ltd company because if I was Ltd I'm not confident my contract would escape IR35. Giant take care of that side of things, as well as the accounts, which I'd hate (I've also heard this from others who have tried it and gone back to composites).

It is not hard for most, all you have to do is send copies of invoices, expenses and bank statements to your accountant and they should handle the rest.

I have nothing more to add to my previous and other postings, good luck!

Alan

[Ardesco]

Basically I'm with a managed Ltd company because if I was Ltd I'm not confident my contract would escape IR35. Giant take care of that side of things, as well as the accounts, which I'd hate (I've also heard this from others who have tried it and gone back to composites).

You really don't have a clue do you.....

I really can't be botered right now

[monkeygeorge]

A Composite is not an Umbrella Company. Two very different beasts, and the fact you don't know this speaks volumes....

I do because I've worked under both. I just couldn't be bothered to differentiate.

Basically I'm with a managed Ltd company because if I was Ltd I'm not confident my contract would escape IR35. Giant take care of that side of things, as well as the accounts, which I'd hate (I've also heard this from others who have tried it and gone back to composites).

[Ardesco]

A Composite is not an Umbrella Company. Two very different beasts, and the fact you don't know this speaks volumes....

Secondly do you seriously think that it would be cheaper to be under an umbrella company than under your own LTD Co?

Here is a hint, there is nothing that an Umbrella company does that you cannot do under your own LTD Co, and your LTD Co doesn't cost you £20/week.

You don't have to use and accountant if you have your own LTD Co, you can do all the accounting yourself (However you will not be able to do it as efficiently as an accountant right away which is why most people at least start off with an accountant).

[monkeygeorge]

No. And has it crossed your tiny mind why not? There a bit of a clue in this link...

http://forums.contractoruk.com/thread7487.html

..and don't tell me he's not qualified to offer advice either.

I'm not going to read the whole thread. What point are you making? If it's a composite vs Ltd company argument I'm not going there. Composite works best for me.

Darren works for an accountancy firm, again in competition with composites and umbrellas, so of course he's going to suggest Ltd is the way to go.

[Ardesco]

Well if it's first hand experiance you want i'm sure we can get someody to phone up the IR and suggest they check Mr Andreou's accounts a little more closely because it looks like he may well have been claiming more than he should... tut tut...

[malvolio]

**YAWN**

but no one that went through an umbrella...

No. And has it crossed your tiny mind why not? There a bit of a clue in this link...

http://forums.contractoruk.com/thread7487.html

..and don't tell me he's not qualified to offer advice either.

[monkeygeorge]

We have backed up all of our claims and the accountants that post on these boards have also stated the same things yet you still refuse to belive us.

**YAWN**

but no one that went through an umbrella...

[Mustang]

I thought about the point about asking people, with more experience than you, for advice, is that you were willing to accept what they said.


Have I missed something??!!

[malvolio]

Dont' waste your energies, I'd rather hear it from the horse's mouth. And especially not from an umbrella company that does not have such a dispensation and is in direct competition with those that do.

Well there's none so deaf as those that will not hear... And even if the unbrella has a magic dispensation, it is for their tax purposes not yours and is totally irrelevant to you.

I'm not misleading anyone or giving any advice, I'm just asking for people (who themselves could be misleading others) to back up their claims.
If the IR agree with what you say I'd be happy to post it here as warning to others.

Well of course, we're all just making this up. After all, I've only been in business 12 years, running my own company and using some very expert advice to do so...

BTW, is MonkeyGeorge a nom-de-plume and your real name Richard Head?

[Ardesco]

I'm not misleading anyone or giving any advice, I'm just asking for people (who themselves could be misleading others) to back up their claims.
If the IR agree with what you say I'd be happy to post it here as warning to others.

The implication of your posts is that you can claim the amount that an umbrella company has a dispensation for every day without recipts and it will all be fine.

This is misleading and also caled tax evasion. We have backed up all of our claims and the accountants that post on these boards have also stated the same things yet you still refuse to belive us. I have to wonder why you bothered posting in the first place.

I await the post detailing your chat with hector with trepidation...

[boredsenseless]

That should be intersting then..

Hector - IR helpline.Can I have your NI number please. Ah yes, Mr George..., can I help?

MG - Yes, I'm thinking of claiming expenses I'm entitled to rather than have actually incurred.

Hector - You can certainly claim such things. Of course, we reserve the right to challenge any such claim when we check your SA form.

MG - Thank you, that's OK then {click}

Hector - Note to self - let's ask Compliance to check this customer's records for the last six years...

Alternatively they may just wait for 6 years and then check after all the longer you get away with it the more cocky and risk taking you become

[monkeygeorge]

Dont' waste your energies, I'd rather hear it from the horse's mouth. And especially not from an umbrella company that does not have such a dispensation and is in direct competition with those that do.
I'm not misleading anyone or giving any advice, I'm just asking for people (who themselves could be misleading others) to back up their claims.
If the IR agree with what you say I'd be happy to post it here as warning to others.