VAT scheme if providing services abroad and most efficent to save tax outside ir35?

[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...

[msbk]

Hello there, I'm preparing to start a career in bookkeeping (and possibly accounting as a next step), and attempting to familiarise myself with the kinds of issues I may come up against by looking into real accounting issues and questions for friends. I'd appreciate any input/insight into this one,...

[Jambrella]

Hi, new to the forum and the contracting/umbrella world so apologies if this is the wrong section.

I have recently become an employee for an umbrella company. The job that I am undertaking requires computer equipment (laptop) but I do not have one personally and currently just borrowing...

[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...

[PK2]

Hi there.

I was unfortunately classified to fall inside IR35 only a month after my start date on this new assignment, so will now have to switch to an Umbrella.

I very much wish to continue working through my PSC, maybe straight after this assignment ends, so planning to keep...

[radium0022]

Hi all,

This is my first post on this forum so I just wanted to take the chance to thank you all for the information shared so far!

I have been contracting for some time already - last project in date was a nine month contract as a data scientist with a famous social...

[80211]

Hello all,

Just have a quick question regarding VAT and CT claim for a limited company.

I want to purchase a PC say for £1,000.

I am struggling to understand whether it is better to buy a PC and then register for VAT FRS and reclaim the VAT for this pc...

[Sintra]

My accountant has just prepared my first set of annual accounts and company tax return, and sent it to me for signing (along with a nice disclaimer telling me 'on my head be it', *nervous laugh*). This is all new to me, and I bet many contractors (I have a few I know in mind just trust their accountant...

[supfoxtrot]

Hello folks,

I am working under the umbrella company Paystream.

Recently due to the lockdown situation our work has moved to our homes and we are to use our personal computers to complete our contracted work.

I have been having issues with a slow computer...

[JackMaloney]

Does anyone know what the new rules are regarding childcare, specifically around putting costs through your limited company. I know the rules were changed in October 2018, but I'm reading and being told contradictory information so would be good to get some clarification.

The scenario...

[Truffles]

Greetings folks,

I've just been offered a 3-month contract in Dublin at €750/day.
I've opted for the Director Umbrella company option.
I'm hoping to work from home in England with occasional trips to the Dublin office.
I'm told I can't claim for the travel and accommodation...

[NathanG]

Hi all, can someone please help me figure out the whole SA shebang?

Do you usually start well in advance and have everything ready by the time you file your Self Assessment? How much time would you say you usually need (per month or total)? Is the workload typically manageable? How do...

[Shiny]

I've noticed that sometimes when adding expenses, the total is off by a penny.
Those with a background in computers will recognise it's probably a floating point error.

Poor form, really. I've gotten myself a freeagent subscription and will be using the totals it comes up with...

[cloudman]

Hello,

I've got me Limited Company going now... no more IR35 and no more sitting at desks. All remote Skype, phone, email, I have clients for SaaS programming in the UK.

I am a UK Citizen. Resident in UK. I want to offer the same cloud services to USA big companies....

[wapperer]

Hello,



I run a small tech advisory business and was using a co-working subscription that was £400 per month. I recently decided to end this contract as it was far to high for my uses. I decided to join a private members club who encourages its daytime use for business...

[ciaozio]

Hi everyone,

I am working as an IT contractor for a client that provides me with IT equipment (it's a financial institution, therefore security is paramount).

I would like to buy a new laptop, expense and reclaim VAT on it.

This laptop will be used mostly...

[siphr]

Hello,

I am relatively new to contracting and have been constantly trying to read a lot of stuff regarding rules and regulations around it. One of the questions that I am confused about is whether I can claim regular lunch meals at a client site as an expense. I choose to be at the client...

[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...

[forumuser]

Greetings all. If I was to contract for a particular client far from my home, (250 miles away) requiring accomodation and travel each week, then my Ltd company could expense this (subject to conditions).

But what if I was offered a permanent position at the company, still working several...

[concord]

Hello. My company would like to make a charitable donation but the site only accepts debit or credit cards. My company doesn't have a credit card and I don't want to use the debit card.

Can I pay this on my personal credit card and reimburse it as an expense? Of course I do this for many...

[funkychicken]

Hi there, I had a (hopefully) relatively simple question...

Some context
I work as a contractor on software projects. It's fairly typical work: usually about 3 months on-site before moving onto a new contract.

I've worked in the industry for a number of years, and...

[sapsam]

I have been fortunate enough to have my current contract run over the 24 months. So I cannot claim expenses when I travel to my client base location of Manchester.

However occasionally I have to travel to other client site in Newcastle and Birmingham lasting a few days to weeks. I'm...

[curiousman]

I am a software developer contracting in Germany.

When considering the job, I spoke with the payroll provider recommended by the recruitment agency to discover how much net retention I would have. The example I was provided (76%) was based off of a high expenses figure which is by no...

[RL508]

Hi,

I am the director and owner of a small limited company. In the coming months, my trading activities in Sweden are set to increase. Although English is almost always sufficient, knowing Swedish would be greatly beneficial. I am wondering if language learning (1 to 1 from a tutor) is...

[OriginalFairy]

Hi all

A couple of years ago, I worked in Italy as a contractor for a few months. During that time, I decided to rent a flat as it worked out much cheaper than a hotel or other alternative.

I have just been offered another 2 month contract with the same company and I would...

[derloopkat]

By October last year I became a contractor in the IT sector and completed two assignments (2 to 3 months each) as senior software developer, using my new limited company. For the last 3 months I was not working but still paying my accountant Brookson £170 a month as they claim I need their services...

[colanm]

I've recently taken up a contract role with a PSB and have been deemed inside IR35. It's a near two year contract and a good day rate so was worth taking (even being inside IR35). I understand that, due to being taxed at source, I won't be eligible for the 5% expenses if I was to set-up a PSC. In all...

[Maximus77]

Afternoon All,

My question is.

I have a business account that is full of cash and i'd like to spend some of it. But can i spend some of this say in John Lewis on new garden furniture and also buy say a computer for my office all on the same invoice?

Do i...

[Thomasina]

I've a contract with an organization that is deemed as a public sector company. I'm currently set up as a sole trader and able to offset business expenses as part of my self assessment. The company has gone for a risk adverse approach and are moving all contracts (Ltd and sole traders) through an...

[MikhailCompo]

Hi

I am using an agency that has a self-billing setup with the end client.

Last weekend I worked away all weekend with 14 hours traveling in total (rented car). I have £350 or so of expenses, all bought using my business account debit card.

How should those...

[MikhailCompo2]

Short story: I have accrued 70 miles of travel expenses today. Do I simply need to document this in an expenses spreadsheet (or equivalent online system) and then do a bank tx from business account to personal account? Also, does it matter if I am reimbursing expenses daily or weekly in my Ltd's infancy?...

[contractor300591]

I have been offered a contract working over 2 hours away from home and therefore would have to stay in hotels/b&bs. I have had a look online and the prices are about 170p/wk (sunday - Friday) My day rate is 150p/day = 750p/wk. As I need to work out before I commit whether this would be cost effective...

[SouthernManc78]

Hi all,

I'm considering taking a new contract in London and having worked in London for the past 5 months and commutted to and from my house (which is approx 4 hours each day) I've decided if I take another role in London I'm going to have to stay over during the week so I can stay sane...

[m786]

Hi All,
I am IT contractor and I am sick of managing the my own limited company. Have to spend hours and hours to prepare invoices and submit to client and prepare VAT and expenses. Was thinking if there is a way I can manage these all from my iphone.

Something can allow me to...

[Nic087]

My company cars up for renewal and i have the option of taking a car allowance if i want. I have heard that i can claim tax back on my business mileage if i have my own car. After a little research still not sure if i can so any help confirm this would be a great help:-

At the moment...

[danthomas25]

Hi all,
my home/office is in Brighton, my clients tend to be in London.

My previous contract was in London and was for 4 years in the end, stopped claiming on it a long while ago.

I have just started a new contract, also based in London, but for a different client...

[Dboy]

I'm just dipping my toe back into contracting and I'm horrified to see the changes to allowed expenses due to come in in April.

I'm looking at a contract where I would work at home but visit my client for 1-2 days a week.
Would any travel and subsistence be allowable before/after...

[Smokebill]

Hi,

I will be starting a contract in London and I live too far away to commute on a daily basis. I am considering buying a flat. This would not be my main residence or where the business is registered. Would I be able to rent the flat to my limited company as it will be used as business...

[vlc]

In the UK, can either Medical Insurance ( and any medical expenses) or child school fees be paid for from gross pay or reclaimed against income tax?

[GeorgeGeorge]

I am considering buying a new mobile phone handset through my limited company. I already have sim-only contract in my personal name, so the limited company would only pay a one-off purchase of the hardware; (no minutes, no contract).

I am unsure if this is acceptable. I have read HMRCs...

[threespines]

I've recently joined Giant after many years with Parasol. One aspect of Giant's expenses policy that truly puzzles me is that, if staying away from home to fulfill a contract, an expenses claim for the B&B/hotel can be made (up to quite a generous limit) BUT a claim for an associated evening meal...

[shtek]

Hi, Have a limited company and doing IT consultancy me dorector and one secretary who i employ . Have a friend who runs a building company, wanted to commission some work for me, thinking of putting it on expenses as building an office) , wanted to spend about 20 K maybe 30k for this. Will be paying...

[Jessicafang]

I understand this topic has been discussed previously. But I have different scenario here and hope someone here can help. So I have recently started a contract with a company and the company promote being active and health, so they gave us a pedometer and target to track our activities on daily basis....

[Rudster]

Hi all

I am an IT contractor with a limited company.

I'm currently not working as I'm waiting for an operation on my hip on the NHS and can't commit to a contract. The waiting time is up to 4 months, but I'd really like to explore the private option, in order to get back...

[russtifer]

I've made a bit of an error - I purchased some business insurance from QDOS but chose to pay via direct debit (I'm not sure why in hindsight - I was just starting out).

I'm paying for it out of my personal account and wish to claim this expense from my limited. I have received an invoice...

[ramesh]

Hi,

I claimed about 300GBP(for me & my wife) under staff entertainment in December. At that time, My wife was not working for my limited company. She recently joined my limited company. She is going to work for only two months in my company.

How much she is allowed...

[jubilee]

Hi there

I have an employee for my Ltd company who freelances. Note: This person is NOT a Director or Shareholder of the Company.

Can I still claim expenses (e.g. sustenance [travel/food]) given the work is not done from the usual place of work?

As a Director...

[moyabrit]

So I've had a look at the training expenses guide, and wanted to be sure I understood it properly.

IT contractor guide to training expenses :: Contractor UK

This would be me as sole proprietor of my Ltd, claiming for exams that I would take myself.

The "capital...

[itsmguy]

Hi all,

I'm thinking of starting contracting. I have decided to start a limited company. I have read what expenses I could claim but what I don't understand is how much of it comes off my corp tax bill and therefore HMRC pay for it? Or am I way off?

E.g.

...

[towcester]

Hi all,
In discussion with a UK-based agency ref contract opportunity in Amsterdam. Agreed rate, then agent emailed back to ask me "does the rate we just discussed include flights, etc?" I'm surprised she was asking me -- but what's the norm here? Is there indeed a norm? The company...