Member Since: 19th Jun 2009
17th Dec 2020
I agree with Lion, You've sold the wreck of the old machine to the insurer for £500k - I expect you'll find they are entitled to any scrap value. Then you've used £500k to but a new machine.
30th Nov 2020
It does answer the question - It isn't allowed because self-employment income isn't a) employment income or b) Pension income or c) social security income
30th Nov 2020
s.683 ITEPA 2003:
(1) For the purposes of this Act and any other enactment (whenever passed) “PAYE income” for a tax year consists of—
(a) any PAYE employment income for the year,
(b) any PAYE pension income for the year, and
(c) any PAYE social security income for the year.
Why would you want to pretend a self employed individual is employed?
8th Oct 2020
Class 2 NI gives entitlement to State Pension and contributions based benefits such as Maternity Allowance, JSA etc
NI credits for a child under 12 only gives entitlement to state pension
12th Aug 2020
10th Jul 2020
As usual you'll have to wait for more information - promissed by the end of this month
19th Jun 2020
From: Steps to take before calculating your claim using the Coronavirus Job Retention Scheme
Employees returning to work after being on sick pay
For employees on fixed pay, claims for full or part time employees furloughed on return to work after time off sick should be calculated against their salary, before tax, not the pay they received whilst off sick.
Claims for those on variable pay, returning to work after time off sick should be calculated using the highest of either:
80% of the same month’s wages from the previous year (up to a maximum of £2,500 a month)
80% of the average monthly wages for the tax year 2019 to 2020 (up to a maximum of £2,500 a month)
14th Jun 2020
I couldn't log in until I downloaded today's AVG definition update which has sorted the problem.
4th Jun 2020
1) Is this connected with the question you asked yesterday?https://www.accountingweb.co.uk/any-answers/ltd-company-buying-shares-in...
2) Why do you think the wrong company ended up as the holding company?
3) This situation needs to be looked at in its entirety not one small point at a time.
3rd Jun 2020
This happens nearly every year as HMRC wait for the Finance Act to be passed