FCCA qualified, experienced in practice and industry.
This opens challenges by the HMRC to disallow all the PP "self employed" expenses. Additionally that PP should have paid employer NI ? albeit on a lower salary that would have been his remuneration.. The PP lawyers may dispute the financial cost of this decision in some way as it cannot be inequitable and one sided.
"There are no hard and fast rules with taking on added responsibilities but it comes down to being a professional and being professionally competent enough to carry out the roles you’re being asked to undertake. "
As qualified accountants, we understand that. But trying saying "No" in a workplace.... these days there would be consequences to refusing the unallocated job to do.
Limited Company ?
Someone mentioned that if you had a Limited company you could put the rents etc through, is this a way round the problem?
I have thought about that one and have inquired many times about it with other accountants. However, the answers I get are that if the property was owned personally this could not be done and most would not want to do it.
If anybody has client experience of doing this and getting it passed by the HMRC on an inspection, please let me know.
it is technically correct. Morally? - probably not by the HMRC, but they are an organisation with no heart !
Personable practictioner, About right but do have attention to detail.