I think this will come up for lots of discussions in the future should HMRC ever query claims. It is a job retention scheme, but maybe different skills etc -
so someone works for me for one day and they get 3 days holiday pay - going to change the way I work - I am goinng to work 1 day in January for 20 different employers and get myself 60 days paid holiday - really!
Its odd that you dont access it via your GG - but you have to start via the original link.
However we have processed a couple today and they all went through.
If from SA302 - then HMRC are correct and the tax payer has lost out - may be he wanted nil income to claim higher tax credits - either way no claim available
But not on payroll declared before the correct date - so can not claim furlough. Remember that clients speaking to HMRC do not actally give all the facts and rely them back to you. May be she could employ her husband and fulough herself.
Its taxable profits so by claiming the capital allowances and creating a loss then no profit. If he had no other income in 2018/19 why would you claim the capital allowances and waste personal allowances. Regardless of Covid - seems a weird bit of tax planning, I would have forgone AIA or only partially claimed so to utilise personal allowances.
Y1 - 50% of income is greater - so move to 18/19 - no profit so 80% of nil is nil!
We are all talking taxable profits which is always after capital allowances.
My answers
I think this will come up for lots of discussions in the future should HMRC ever query claims. It is a job retention scheme, but maybe different skills etc -
Bill for what you have done, let them file their own accounts without your involvement - its your name on them even if they are not audited!
so someone works for me for one day and they get 3 days holiday pay - going to change the way I work - I am goinng to work 1 day in January for 20 different employers and get myself 60 days paid holiday - really!
Its odd that you dont access it via your GG - but you have to start via the original link.
However we have processed a couple today and they all went through.
https://www2.deloitte.com/uk/en/pages/tax/articles/self-employment-incom...
https://www2.deloitte.com/uk/en/pages/tax/articles/self-employment-incom...
try this calculator.
If from SA302 - then HMRC are correct and the tax payer has lost out - may be he wanted nil income to claim higher tax credits - either way no claim available
But not on payroll declared before the correct date - so can not claim furlough. Remember that clients speaking to HMRC do not actally give all the facts and rely them back to you. May be she could employ her husband and fulough herself.
Its taxable profits so by claiming the capital allowances and creating a loss then no profit. If he had no other income in 2018/19 why would you claim the capital allowances and waste personal allowances. Regardless of Covid - seems a weird bit of tax planning, I would have forgone AIA or only partially claimed so to utilise personal allowances.
Y1 - 50% of income is greater - so move to 18/19 - no profit so 80% of nil is nil!
We are all talking taxable profits which is always after capital allowances.
I also had a text - butas above - did not ask for any data