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

...

[matt5930]

Hi all.

looking for any recommendations on accounting software for IT contractor (limited company)

Keen to find one with:
vat
bank integration
payroll
expenses

note: I’ve always batted trying to know what dividends you can take each...

[AlanBurgess]

Hello

I'm after some advice regarding my current situation... I am currently employed part-time, where I pay Tax, NI, Pension contributions etc, but I also work for myself and my own Ltd company. As it stands I am not on the payroll of my Ltd company and therefore don't take a salary,...

[sbzcontracts]

Looking for peoples thoughts.

Contracted via LTD for 11 months with overseas client, who have UK legal entity. Contract was outside IR35 truly. The contract spanned the change in legislation where client had to determine status. For the first 6 months it was down to contractor (pre April...

[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...

[Ariosa]

Hi everyone,

I've been working with a client and currently making our collaboration more formal with a new contract. I'll be providing consulting (architecture etc.) services and possibly some web development hours as well. Should I have 2 different rates for these two services or do you...

[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...

[0xsrwea31]

Hi everyone! I'd like to ask you for some help to make the best decision. Here's my situation:

1. Currently working as perm
2. The client I'd be contracting for is based in the US (which is why they can only hire me as a contractor in the UK)
3. They don't have a clue of what inside/outside IR35 means
4. I'd

...

[engineerer]

I am considering transitioning to contracting and I would like to ask about a few things - not necessarily about the diference between inside/outside IR35 etc, bench time, saving money etc, I've done some reading by now. I would appreciate if experienced contractors could share their views on what I...

[MangoIcecream]

Hi everyone,

I am living a nightmare right now, so I thought I would post my story to ask for advice.


With IR35, my client asked all contractors to go perm or leave.
All agents at the time were saying most contracts are now inside IR35, so eventually I did find...

[davec123]

Good evening all,
I’ve been out the contracting work for a few years now and been books in. I’m thinking of returning to contracting and looking for advice from anyone working inside IR35 now.
1. Do I still need to be a Ltd company or Will sole trader work?
2. The consultant jobs...

[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...

[MonkeyDonkey]

I'm in IT and currently I'm being offered a position in the public sector inside IR35 via an agency and they gave me 2 options (exact wording):

Option 1. An umbrella route whereby you become an employee of the umbrella, with payroll taxes deducted at source.

Option 2. A payroll...

[bazuzu]

Hello

I'm an IT contractor (currently under an umbrella company). I have been offered a contract (fully remote) with a German company, and the recruiter (who is UK based) has mentioned this is outside IR35. I still have my own Limited company operational, although I am trading (at the moment)...

[redpill]

My insurance is due and I'm wondering whether I should just take out professional/public liability insurance for £170 or cough up for IR35 insurance which is another £300. I know the emphasis is on the client now to deem your IR35 status so perhaps shouldn't need the insurance but I'm just wondering...

[TwoWolves]

New "outside" contract, modest rate increase on existing.

I suppose I should feel euphoric but I actually feel exhausted and stressed, it's not easy finding outside contracts at the moment and the thought of going permie or inside makes me nauseous - I may be allergic.

[mike78]

Hi All,

As per my understanding British Citizen can open limited company in Republic of Ireland even after Brexit.
I have recently liquidated my company in UK and starting a contract in ROI. I will open a limited company in ROI.


Any issues in terms of Entrepreneur...

[nikwax]

Let's say I closed down a limited company (MVL) and was intending to move abroad.

I have correspondence with a solictor demonstrating that I was in the process of acquiring property in the other country.

Then at the last minute I was offered a new contract.
- it is a...

[Ariosa]

Hi everyone,

I've been reading lots of IR35 related threads (I'm still confused) but I would also really appreciate your feedback on my current situation.

I've been with this client since April 2020, renewed once and current contract ends end of coming March. Client has...

[backtoback]

Hello,

First of all, thank you for keeping this forum so helpful.

I just have a question regarding my Estonian Limited and need some help.
I have a new 1year contract proposition from a French company. I have an Estonian limited (which is in EU), but my client said...

[KaiProctor]

Hi,

I have been contracting inside IR35 for a while now. I pay an umbrella company £100 per month for their services (£1200 pa). I was considering going down the limited company route on the basis that I will save approx £1k per annum (£1200 of umbrella fees - £200 of limited company...

[omicron]

Hi,

I have my own UK limited company and signed a contract with a client (private small company) from Sweden. The contract has no end and will continue until one of the parties decides to terminate it. I'm working for this company full-time and I'm pretty much an employee except that I'm...

[rogerF]

SIPP Contribution question.

Hi,

I am thinking of opening a SIPP and I have a question about the most tax efficient way of funding it.
I would want to make regular, say monthly contributions.

Here is my situation:
1- I am the director of my UK...

[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...

[MikhailCompo]

So my FTSE250 client offered me a decent package to convert to permie as they're binning all contractors before Feb 2020, so I have taken the plunge.

Can anyone clarify the following points for me? I have been told that if i am over 25k then i must appoint and pay for a liquidator...

[sdd]

Hi, I'm hoping someone might be able to help on here.

I have a limited company that has never traded that I'm looking to dissolve.

My home address currently shows on companies house as the correspondence and registered address.

I want to change this for security...

[Rictastic]

Hi

Has anyone had experience with winding up a limited company and the most tax efficient method for doing this:

My last invoice/payment will come through mid October (2019) and I plan on moving back to NZ mid December, on the last payment I'll have around £90000 in my...

[suresh505]

I work as an IT contractor through a limited company with myself and my wife as directors. My wife performs the role of a company secretary and draws a small salary.

Once private sector IR 35 rules come into force, I will almost certainly start working with an umbrella company. I would...

[eco666]

Hi,

I am contracting for a large business (as a limited company). Recently, the company I am employed by has asked every employee fill out a 'work tracker' (for management purposes) whereby each employee has to fill in a tracked spread sheet, on a daily basis, every task they have completed,...

[Liam88]

Hey everyone,

Basically, I have been in a limited company for over 2 years with my business partner. We agreed that having different views for the company around 6 months ago, me still having faith in the company though and him not. As the company wasn’t trading at a plus and basically...

[Franklin09]

All, I would appreciate your comments regarding our plan on how to handle our salary/dividends/tax matters when it comes to the limited company that I have just founded together with my wife.

Mr
- He is a director of the limited company
- He is paid a salary of £8,424/year...

[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...

[bubble99]

Hi all - interested in some advice.

I'm a kiwi who has been living in the UK for about 16 years. I'll be returning to NZ later this year to live. The last few years in the UK I have been using limited company to contract through (sole director/shareholder) and a decent level of cash has...

[bonzibuddy142]

I have just started my own limited company and am set with my first contract which is for a duration of 6 months.

The contract states the work location to be in 'Location A'.

I spend 6 hours at Location A twice a week and the remainder of those days plus the remaining...

[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...

[aeroeng]

I need a view on these companies. I am planning to go for umbrella services, although it will significantly reduce my monthly take home amount, but I have no idea about the difficulties i might face if I choose to LLC. my assignment is for 6 months only. My agency recommended these companies to work...

[sru825]

Hi,
I have recently got new contract that falls under Inside IR35 .
I was assessing weather its still good option to continue through my own limited company.

The agency will deduct tax at Basic Rate, Employee NI, Employer NI at source and will deposit around £8000/month...

[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...

[pabs]

Hi All

I have recently been put forward for some contract roles through a recruitment agency. The agency have asked me to inquire about either setting up a limited company or using an umbrella company.

Last night i phoned a company called Compare the Umbrella (comparetheumbrella.co.uk)....

[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?...

[ventingbasher26]

Afternoon All

Forgive me if this has already been addressed

I am an IT contractor and have set up a limited company. I have a single client whom I work for and bill through the company. If i were to take the IR35 test would I fail? If so is there any other way round it?...

[hawkley]

Hi folks. I'm a newbie to this site. I've read through some previous posts but found them difficult to compare to my own situation.

I've been operating my own limited company for exactly 2 years now. In that time I've taken a salary of c£10,600 for the second year and a dividend of c£23,000....

[Guest22]

I have been offered a contract in the Netherlands and I understand I could work in one of the following ways:

1. Under my own BV (Netherlands limited company).
   
2. Under my UK limited company.
3. Via a payroll company.
   
4. Part payment to my BV or UK limited company and part payment (€200)

...

[oldlag]

Having retired from full-time work I am hoping to continue working part-time but no more than 6 months in any calendar year. And this 6 months might be made up of a number of shorter periods throughout the calendar year.
I would prefer to set up a Limited Company rather than go through an umbrella...

[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...

[fwd]

Just started contracting again after years of being permanent. The last time I was a contractor I paid my accountant £150pcm to use an online tool but this time around I wanted to see if I could do it myself. After some researching I'd like to share my current understanding and hopefully someone can...

[Sonia]

Hello everyone,

I've recently opened my Limited company and added my partner as a second director. As we just started contracting and keep it just as a part time thing the income isn't very high yet (around 13 -15 thousand a year). The issue that I would like to find out about is whether...

[inbetweener]

Hi,

I have read all sorts of info / forums on the pros and cons of Umbrella companies vs Limited Companies.
I thought I would be "clever" and create a limited company. I've haven't traded yet. Now I'm it looks likely that I will have between 2 to 3 months work at £150...