- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Pay/claim expenses or let customer pay direct"
Collapse
-
You are not cut out to be a contractor.
Google search for expenses. You have a legal obligation to claim them from client and add VAT - yes, on top of the VAT you already paid.
Google search for 'flat rate' and how this can make you money.
Have you asked your accountant?
Has been answered many times before.
Leave a comment:
-
LOL. Great find.
I'll be saving this one for when I need it:
Originally posted by northernladuk View Postmy employer
Leave a comment:
-
Originally posted by malvolio View PostAs I keep saying, not everything is about IR35, but f you can afford it, charge it to YourCo and add it to the invoice (with VAT) since that keeps everything under your control and demonstrates your independence from the client.
Leave a comment:
-
As I keep saying, not everything is about IR35, but f you can afford it, charge it to YourCo and add it to the invoice (with VAT) since that keeps everything under your control and demonstrates your independence from the client.
Leave a comment:
-
If you are providing services to a client through a LTD company the appropriate way is for your company to invoice for "disbursements". When HMRC consider IR35, one of the points they look at is how are expenses claimed paid for, if they are the same as an employee it could be a pointer towards you being within IR35.
Leave a comment:
-
Originally posted by northernladuk View PostI have to do some travelling in my current contract which is is going to involve some long haul flying and hotels so is not going to be cheap. I have been given the option to claim the reciepts from my employer or me pay and invoice them back via my Ltd Company. they are very flexible in this matter.
Thoughts I have had are.
Vat - No difference as I am on flat rate.
Tax - This wouldn't affect my profit due to me paying it out and claiming it back so no real effect. Is this right?
Interest in bank - Pretty irrelevant.
After that am a bit stuck. I can't think of any other tax/finacial incentive between the two but would have thought there was something even if its fairly minor.
Any tips appreciated.
Everything else its easier to invoice through your own company. I know some large companies used to add an admin handling charge as well, not sure if they still get away with doing that still!
Leave a comment:
-
I think I have this right:
Add 'incurred costs' to your invoice. That way VAT gets added to non-VAT items and YourCo can reclaim and keep that VAT.
Leave a comment:
-
Originally posted by northernladuk View PostI have to do some travelling in my current contract which is is going to involve some long haul flying and hotels so is not going to be cheap. I have been given the option to claim the reciepts from my employer or me pay and invoice them back via my Ltd Company. they are very flexible in this matter.
Thoughts I have had are.
Vat - No difference as I am on flat rate.
Tax - This wouldn't affect my profit due to me paying it out and claiming it back so no real effect. Is this right?
Interest in bank - Pretty irrelevant.
After that am a bit stuck. I can't think of any other tax/finacial incentive between the two but would have thought there was something even if its fairly minor.
Any tips appreciated.
Leave a comment:
-
Pay/claim expenses or let customer pay direct
You are all a set of cockwombles.
That's all.
Thank youLast edited by northernladuk; 17 March 2016, 12:49.Tags: None
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: