MVL whilst director has other companies

[sojan]

Please find below situation for Director 'Fred' who is director of all below companies

Company

SIC Category

How long established

...

[Zorbas]

sorry first time in my life I use a forum, please excuse my mistakes


I need to close my LTD and I need to submit cessation accounts. My company is dormant for few years now and I submit the accounts myself, I don't have an accountant. My question:

How do I submit the...

[GGWP]

I have been offered a contract for £100k+ per year to provide IT services internationally. Is it necessary to pay Value-Added Tax (VAT) in this case? Additionally, what is the most efficient way to pay myself, as a director, and my sibling, who is serving as the company admin or secretary, through...

[Vector124]

Can someone with knowledge or having done the same please help.

During Extension, Is it a good idea to change an outside IR35 contract from a current limited company issued with an Outside IR35 contract to a new Limited company operation from 9 months?? What are the implications?...

[Likourinos]

Hi,

I am about to sign a contract with a US company and I phoned an accountant to get some advice regarding IR35 rules.

I was told that IR35 doesn't apply to US companies but my contract could still be checked for IR35 status from the HRMC.

I am bit confused. Does...

[ram1244]

Hi,

I'm planning to work/contracting for crypto companies doing, I haven't done any contracting before, I have been going through how contracting works at the moment.
More often the crypto outfits do not have any address or location and I would be paid in crypto (USDC) I would have...

[Cuckoo]

Since I last submitted a tax return they have added a new question 8 on the employment pages:



The notes say:



I was working outside IR35 through my own Ltd Co until Apr 2021 and then closed the company mid 2021. The question seems to say to tick the...

[biggles11]

The Parasol website (myparasol.co.uk) seems to have disappeared this morning and their phone numbers don't ring through.

The websites for Nixon Williams and ClearSky accounting that I think are linked seem to respond still but none of their phone numbers work either.

Is anyone...

[TaxIsCompicated]

I am a US citizen in the UK married to a European citizen and we both do contracting work. A US company wants to hire me as a consultant on an extended and pretty much full-time basis. Am trying to figure out how I should set myself up from the legal structure and flow of funds perspective to minimise...

[alangarden]

So this has been done to death but wanted to check my ‘maffs’!

I’m considering purchase of a motorbike purely for business use to dive in and around city centres when visiting Clients (it may also only be used in a sunny day!). Making use off the Annual Invesment Allowance and the...

[Tractor Trace]

I have started the process of closing my limited company via my accountants but am very suspicious about the steps in the process that they have outlined in them doing so.

They have stated that I should not close my business bank account at this time as any tax refunds due to the company...

[Mobix]

Hi,

I recently had to switch to an umbrella due to IR35.

I got paid for the first time in the May tax month. I submitted my timesheet for June as normal and my agency sent the money to the umbrella before the 4th of June. This meant that the Umbrella processed the payment...

[PencilPot]

Hi All

I just wanted to ask a quick question to get an idea of accountancy fees and if what im paying is normal

My account does my PAYE, Vat and end of year accounts and charges me £1900.

Is that about the same as most of you are charged for a simular service....

[mike78]

Hi All,
I am about to start liquidation and need to submit final returns. and my current accountant is not responding since few days now.

I think I don't have any other option than going to other accountant .

Any issues I can face please ?

Rega...

[elliscs]

Hey folks,
I'm new to the UK and am starting a Contracting Web Dev business. I just got off the phone with Maslins and they recommended this forum for finding an Accountant specialising in UK/US contractors.

Can anyone recommend an accountant?

Much appreciated,...

Hi All,
I am looking to become an IT contractor. I have interviews for both an inside IR35 role and outside.
For arguments sake lets say they are both offering 450GBP a day for 6 months (lets say 120 days of work).
Therefore I get 450*120=54,000GBP sent to me.

My...

[alex1011]

I have a property which is rented out for £2,000 pcm. I transfer the net proceeds of circa £1500 (minus agents fees, maintenance etc deducted) to my Mum each month to support her.

My Mum doesnt have another income so would pay less tax than me. Is there a way for me to not complicate/change...

[Ldter]

Hi all,

I've joined this forum as I'm going to set up an Ltd to build some software which won't probably see any revenue for at least a year.
The reason why I'd like to have an accountant when setting up my Ltd is to also have a registered address to use for the incorporation....

[Chloe Jane]

Hello Everyone.

I need some advice please and hope you can help!

I've been a Ltd Co contractor for 7 years and my last contract ended back in February this year and I then took a fill time PAYE job with another company. So really, the Ltd company isn't in use any more but...

[PK2]

Hi everyone,

For those of you who moved accountants how long did the process of getting your accounts up to date with the new accountant take?

It's been 3 weeks since I gave PayStream a formal notice (by email) and my new accountant keeps telling me that they haven't even...

[uk-newbie]

Been with them for over 4 years now but really not seeing any value for what i'm paying and the last 3 weeks of trying to get something done through them has been beyond a joke.

Has anyone left them recently ?

Was it a smooth process?

Any issues / penalties for...

[TheKnight]

Hi,
I started contracting through a limited company in Feb this year. When I signed up with my accountant, they promised that the year-end tax filing and all services would be included in their package and I pay them a monthly amount. Now when filing tax for the year 2018/2019, they are charging...

[JtotheD]

Hello All

I am looking for guides / advice on how to go from monthly fee paid accountant to DIY accounts.

There are many threads with strong opinions both ways on whether going DIY is a good idea. I would say there are more on it being a bad idea than a good idea. I am...

[genji7]

Hello
i'm a newbie to the contracting world and need some advice on accounting matter please.

Contract started : April 2018
Contract ends: end of June 2019
Company year end accounting date: end April 2019

I've been with a local small accountancy...

[Fathomable]

I'm currently permie, going contract next month. I've set up a company, purchased the necessary insurance and got a business bank accountant. I don't want to handle the accountants day-to-day, so I need to get an accountant. Probably an online-only FreeAgent accountant like Gorilla or Dolan.
...

[kembljoe]

Hi,

I've recently changed my accountant. My new accountant says:

"I need to make you aware of the 24 month rule. For example contract A was for 18 months and located at Canary Wharf, you then have a new contract (Contract B duration 18 months) and the new place of...

[Hisco1954]

Hi,


I'm shutting down my ltd. company after moving into full term employment. There is around 60k distributable profit in the business, and I'd like to exit this with entrepreneurs relief (@ 10% capital gains, so assume 54k net).

When do I take this 60K out of...

[skay]

Hi, Crunch (accounting) have applied for my VAT registration for my newly created company but there was a mistake and hence HMRC requires more evidence/documents for the verification process. I have all of those and have already provided them to Crunch which in turn will update my application. Based...

[abu1]

Hi I am thinking of changing my accountant as he is not doing much or anything at all. Also currently he is abroad and I am unable to get hold of him since last 4 weeks.

what do I have to do for handover to a new accountant? Do I need to make HMRC aware?

Also any recommendations...

[joaopcf]

Bear with my first post, appreciate the patience if someone is able to help.

Due to the extremely poor service I've been getting with Umbrella Accountants and reading the posts here I've decided to go with InTouch
When they asked me last week if I'd prefer giving them the notice...

[Jackthedog]

Hi,

Need some help, sorry this question may have been posed many times before but I am not clear.

I’m new to contracting and have just set up a limited company (am director and am employee) and started as a worker providing IT Consultancy Services.

I have...

[speaktofrodo]

Hello everyone,

I'm a contractor newbie and am about to start on my first contract next month. Can someone recommend a good accountant in the Preston area? I'm an IT contractor an accountant who has got experience with IT contractors and tax advice around them would be preferred. I know...

[fwd]

Hi, In the tax year of 2016/17 I only worked the final week of the year, (last week in April).

My invoice for the year was 2,750+550 VAT= 3,300 in total.

I am on the flat rate scheme @ 14%, what’s the treatment to get the maximum. Appreciate if someone could provide...

[squidlet]

Hi!

I've just received the end of year accounts for my boyfriend's Ltd, and out of about £43,000 in turnover, the corporation tax adds up to about £5,200.

My boyfriend (director) contracts all over Europe, for 2-6 months at a time. This means he has to travel to various...

[thekidslocum]

Evening all.

So, I appreciate this must have asked before so sorry to waste anyone time. Essentially, I'm a doctor now doing full time locum and has my own ltd company. Want to be as tax efficient as I can be and the more I look around it the less I understand it. Anyone know of a good...

[essjay2730]

First post on here but SJD have finally pushed me to the limit. I wont go in to specifics but broadly speaking I am underwhelmed by their service after 3 or 4 years with them. Mistakes, lack of responsiveness, excel spreadsheet book keeping, having to chase, expensive....to name but a few. I am therefore...

[PharmaContractor]

Hi All


I have a friend that is in a bit of a pickle. He's on a very decent rate, but has been 'advised' all sorts of 'advice' from his French accountant.

Situation:

• UK national, resident in France (lived there for a few years now).
• Client is American

...

[Jcochr]

I can't get my accountant to do straight line depreciation on IT hardware as I believe is normal. The problem comes when you wish to close down the company and they have done reducing balance. They try to say that they only do reducing balance. Can the director insist on a particular depreciation scheme?...

[ContractorLtd]

HI All,

Anyone will recommend a good accountant for my Ltd?

I had MicrobusinessTeam accountants but they are SO SO terrible. They never reply to emails, never pick up the phone, they are so unprofessional and not well prepared. Please avoid!

So any advise will...

[fleming]

I've been contracting through an LTD from a number of years and now I'm moving to a Fixed Term Contract directly with the employer.
As a part of the screening process I've been asked to provide the name and contact details of my accountant. Does anyone know what they'll ask the accountant? How...

[Cogentacc]

Hi all, as busy professionals I am wondering what is important to you when choosing an Accountant. Do you prefer use a specialist contractor accountancy firm or a general accountancy firm?

Is personal service important to you? Or do you make your choice based on cost?

...

[Cora123]

Background - I am new to IT Contracting and have just set-up a new limited company

Quick question - I have three children under the age of 6 years old so my childcare costs per month are high! As the sole employee/director of my small limited company can I claim some/all of this as an...

[Barracuda]

My contractor limited is going to have a very quiet 2016/17 I think, as I focus on other things. I'd like to keep the company in existence, but it won't do much.

What would anyone recommend regarding accountants for this situation? I don't want to pay 1000 + VAT for the year to one...

[MarcNY]

Hi all,

I am new to contracting in the UK and am looking for an accountant to help me the administrative hurdle.
So far i found:

SJD
Brookson
Walker Smith Global
Advance

Does anyone have experience with any of those or can you...

[Wolfgirl]

Hi,

Completely new to contracting, just been offered first contract and trying to choose an accountant. Danbro was recommended by the recruiter and I have had a chat with them which was very helpful to get an idea of umbrella vs limited and what my take-home would be for the various options;...

[Blitzer]

I'm about to set up a new company. I've read around this forum and decided that InTouch looks like the best bet to provide accountancy services. A couple of questions follow - the best answer gets my referral if you'd like it (which will probably be on Wednesday 8th April).

I'll be...

[TF8283]

Hi,

Wondering if anyone had any recommendations for a tax advisor or accountant specialises in dealing with contracts in Belgium?
I am new, but did try the search function - and have read the long and informative post on contracting in Belgium.

thanks in advance...

[midheach]

Hi All,

I recently started up and limited company and have been contracting through it. However, I am having trouble identifying what my accountant should be handling and what I should be handling myself.

Are the following considered normal accounting duties or am I asking...

[psg]

As an IT contractor, does it make sense to wait until to find a contract job(couple of months) or it's better to start working as soon as I finish company formation process?

[andrewkew]

Hi

I am looking for a good accountant in London to do my accounts of my LTD company. Searching the web I found a company called Forbes Young.
They seem to have offices all over the country not just in London but I cant seem to find many reviews about them?

Does anyone...