I cleared out my 5% disproportionate time consuming clients a year or so back and have never regretted it. Ok I'm a sole trader working from home with no kids, but on the other side I have no pressing need to increase my client base. Clients have been getting books in earlier and I've mostly processed them immediately, some have even suggested I put aside till later if the virus is impacting on the workload! Tbh I currently have a better cash flow than ever with plenty of work mapped out until February. I'm trying not to feel smug because I know there's a lot of luck involved ;)
They have told me but having seen so many overly optimistic start up forecasts over the years I'd like to test their assumptions. They asked for advice so I'm not about to tick off figures without a deeper analysis
Noted re your own pizza oven, chorizo and blue cheese is my go to. I have a homemade Tandoor from a terracotta plant pot that makes wonderful naan bread and tandoori chicken. A neighbour has a home built pizza oven, the walls and dome were made from straw and clay dug out of a beck a few yards from her house!
The other factors have been taken into account, the question is solely on an average mark up, doesn't need to be detailed just a fag packet generalisation.
If it was a restaurant I would agree but it's a takeaway (need a new word as it's delivery only!). My experience in dealing with general takeaways in three radically different areas of the country, suggest that 100% mark up is fairly constant given fish and meat based meals.
Thanks for your reply.
I realise that none of the automatic tests for either UK or overseas are met. This being the case the matter of sufficient ties come in to play. He has 2 ties, one being the home and the other being in the UK for over 90 days in at least one of the previous 2 tax years. With those ties I believe he is entitled to spend up to 90 days without becoming resident.
UK tax is such an issue in this case, we are talking a high 5 figure sum after DT.
Thank you for your response to this. In the event the contract fell through for whatever reasons. However, I had put this question to the Norwegian tax office via email.
I finally received a reply approx 2 weeks ago and they stated in a single sentence response that a salary does not have to be taken by the director.
During an enquiry last year into a clients residence he was asked to produce driving licence, council tax bills, evidence of removal expenses etc. The HMRC also asked to see the gas and electric bills for the period of occupation and then queried the apparent low level of usage.
My answers
I cleared out my 5% disproportionate time consuming clients a year or so back and have never regretted it. Ok I'm a sole trader working from home with no kids, but on the other side I have no pressing need to increase my client base. Clients have been getting books in earlier and I've mostly processed them immediately, some have even suggested I put aside till later if the virus is impacting on the workload! Tbh I currently have a better cash flow than ever with plenty of work mapped out until February. I'm trying not to feel smug because I know there's a lot of luck involved ;)
They have told me but having seen so many overly optimistic start up forecasts over the years I'd like to test their assumptions. They asked for advice so I'm not about to tick off figures without a deeper analysis
That's helpful thanks.
Noted re your own pizza oven, chorizo and blue cheese is my go to. I have a homemade Tandoor from a terracotta plant pot that makes wonderful naan bread and tandoori chicken. A neighbour has a home built pizza oven, the walls and dome were made from straw and clay dug out of a beck a few yards from her house!
The other factors have been taken into account, the question is solely on an average mark up, doesn't need to be detailed just a fag packet generalisation.
If it was a restaurant I would agree but it's a takeaway (need a new word as it's delivery only!). My experience in dealing with general takeaways in three radically different areas of the country, suggest that 100% mark up is fairly constant given fish and meat based meals.
Thanks for your reply.
I realise that none of the automatic tests for either UK or overseas are met. This being the case the matter of sufficient ties come in to play. He has 2 ties, one being the home and the other being in the UK for over 90 days in at least one of the previous 2 tax years. With those ties I believe he is entitled to spend up to 90 days without becoming resident.
UK tax is such an issue in this case, we are talking a high 5 figure sum after DT.
Thank you for your response to this. In the event the contract fell through for whatever reasons. However, I had put this question to the Norwegian tax office via email.
I finally received a reply approx 2 weeks ago and they stated in a single sentence response that a salary does not have to be taken by the director.
Can you define modest?
Nope, that is the one they live in.
Private Residence Proof
During an enquiry last year into a clients residence he was asked to produce driving licence, council tax bills, evidence of removal expenses etc. The HMRC also asked to see the gas and electric bills for the period of occupation and then queried the apparent low level of usage.
We won in the end though!