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tax

  1. Y

    VAT Determination

    Hello, I've a strange case with one of possible contracts. therefore running some sanity checks/due-diligence. let's say: 1) I'm contractor with MyContract-%^&-LTD - which is UK-registered (incl. VAT) 2) Agent is say CambridgeInc455 - Denmark-registered. 3) End-client GibberishInsurance4532...
  2. S

    It Starts with IT Workers … But Where Will It End?

    Hi Everyone, We’ve just launched a petition calling on the UK Government to stop the unfair impact of the UK-India trade deal on British IT workers. Right now, UK-based IT professionals are being pushed aside while foreign outsourcing firms benefit from tax exemptions, visa advantages, and...
  3. R

    25 years on and has much changed you ask... (RIP Rob Crossland)

    Good evening from sunny Staffordshire... My name is Rob and I am an.... ex-umbrella bod :tongue. I originally founded and was CEO of a business called Parasol which became Optionis etc. Before you swear at me, I fully and completely exited in late 2016 and had zero involvement with the Group...
  4. A

    Part time employed and self emplyed

    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, but I...
  5. E

    Working from EU while doing remote contracting in the UK

    I am not a contractor but I am considering different options and I was wondering if I could get some advise here, or if anyone has such experience some first hand info even if possible. Assuming I have a ltd company registered in the UK and I offer my services in the UK, is it possible to live...
  6. K

    Getting desperate - HMRC Loan Scheme

    Hi all I've just joined this forum as I really need some help and advice. Back in 2016/17 I was given (very bad) advice and joined an umbrella company who a few of my colleagues were also with and the company advised everything was above board and it was just another way to get paid. ​​​​​​...
  7. M

    Meals bought by contractor for subcontractors - allowable expense?

    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...
  8. S

    One of those pesky indemnity clauses...

    Hi all (repost as previous attempt errored for some reason) Been lurking here for a while, as there's a lot of useful info going on. I've especially been reading recent IR35 info: I had my own LtdCo back in the late 90s/early 2000s, but the IR35 situation has changed a lot since then...
  9. M

    100k+ Tax threshold through umbrella

    Hi all After having my tax code shifted around recently and taking a large tax chunk out of take home pay I am keen to understand the most efficient use of earnings in the new tax year coming up. My day rate with my agency is 500pd, meaning HMRC have put my expected earnings next year to be...
  10. 0

    New to contracting - oversea client - in/out IR35 - umbrella/ltd - uk/europe

    Hi everyone! I'd like to ask you for some help to make the best decision. Here's my situation: Currently working as perm 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) They don't have a clue of what inside/outside IR35 means...
  11. D

    Returning to contracting IR35

    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 I’m looking at...
  12. A

    Company Motorcycle maths

    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 fact the...
  13. C

    Is it fair for contractors to pay Employer’s NI from his day rate?

    Umbrella companies deduct employer NI and employee NI from a contractor’s day rate agreed with the hiring manager. Is this fair? Is the umbrella companies just a facade for double NI collection from a contractor’s day rate? Most hiring managers are not even aware that employer’s NI is being paid...
  14. S

    A UK national, living in France, contracting to a UK company remotely - possible?

    I retired to France in 2020 having been an IT contractor for several years. However I am now being invited to work for a UK company remotely. I am registered for French tax but am not yet up to speed on the post Brexit situation. I'm not intending to set up companies to handle this - just act as...
  15. R

    IT Contract in Netherlands - Hoes does that work considering Brexit and Covid

    I have been working direct (with no agency) with a well known IT Consultancy company in the UK and just about to finish my current project for their client based in the UK. This same IT Consultancy company in the UK now offer me a role to work on the other project run by them. The end client...
  16. G

    My Awkward Accountant - MVL Process

    I'm having frustrations with my accountant (they are one of those cloud accountants which lack that personal touch), and wondered if anyone else has gone through similar. I've recently ceased trading and informed my accountant that I'd like to close the company via MVL and get to the point...
  17. G

    26 year old, new to contracting help!

    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 question is... after setting...
    • Guest
    • Thread
    • accountant contract inside ir35 tax
    • Replies: 14
    • Forum: IR35 Reform
  18. A

    Buy To Let Question

    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...
  19. P

    My first payslip with IR35 and I don't get it!

    Hi, I used to be a LTD contractor and just moved to IR35. I got my first payslip but I don't understand it. Can someone explains to me those numbers? The weekly pay is £3825 based on a 5-day week at £765. The total paid by the client to the umbrella company is £3825. Then the umbrella...
  20. S

    Accounts and expenses accuracy

    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...

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  1. Contracting
    1. General
      1. Brexit
    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
    5. Welcome / FAQs
  2. Social
    1. Light Relief
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