Member Since: 2nd Aug 2012
24th Apr 2020
Double her fee. Let her know in advance this will happen if you end up doing a last minute job for her again. And remind her of this when she brings the records in late - and get her to agree to it.
Then if she pays, she's worth keeping. And if she doesn't, you'll say you can't act for her anymore. You'll get over the guilt.
18th Sep 2019
They are known as illegal dividends, though. The ACCA call them that.
11th Sep 2019
We generally charge a flat fee based on expected time costs.
Tax planning advice on getting the cash out;
Form DS01 (assuming a simple winding up);
Chasing for the signedDS01/cheque;
Making sure HMRC notified that business has ceased. etc.
2nd Sep 2019
What will be the case after April 2020 is that contracts will have to be offered on an 'outside IR35 basis' or on an 'inside IR35 basis'. And if Clients and Agencies want to attract the best contractors, they're going to be working out ways to get the CEST tool to give the desired result (e.g. making the contractor decide on his/her scheduled hours - which might happen to be 9 to 5) BEFORE they know who the contractor is.
They might also want to bear in mind the fact that there are very few HMRC IR35 inspectors; and that if contractors can insure themselves against IR35 taxes via companies like Qdos - then so - sooner or later - will end-clients. And paying a few hundred pounds in insurance may be very good value if it saves having to pay thousands of pounds a year more to attract an 'inside IR35' contractor than they were previously paying to attract a contractor under the existing legislation.
It's going to take a while to play out.
2nd Apr 2019
Can one ignore MTD and continue using Government Gateway for VAT for the first quarter post 1/4/19 - and not be penalised?
I assume not - but am unclear what the Soft Landing period of 12 months means.
17th Aug 2018
'we're thinking of getting married to avoid the additional 3%'
6th Aug 2018
I imagine if they offer 90%, then they are using 'loans' to evade/avoid tax and are an accident waiting to happen. If you go with them, you might as well tell HMRC to investigate you now and save time.
78% sounds very high still. If they send you a breakdown of how they get the figures, you can get it checked. If they insist on talking to you on the phone, then be very suspicious. And if they mention loans or QC's opinions, run a mile.
5th Jun 2018
Generally, since December 2013, it hasn't really been worth making a limited company a Partner because the individual behind the company then pays income tax/NI on the partnership profits allocated to the limited company. It is as if the company is transparent for tax purposes.
11th Aug 2017
You need someone to talk to. My best ideas have come in conversations when I've said stuff I didn't even know I was thinking. If you are on your own just trying to work it out in your head, you aren't going to find the answers - in my experience.
You need help - a side-kick, a friend, a coach - who'll ask you simple questions that you can answer out loud. You'll be amazed how obvious the solutions are.
23rd Mar 2017
It sounds like you should have gone to see an accountant about 3 years ago and discussed IR35 and basic tax planning. I suggest you do it now.