Look at your contract first The Revenue's basic position is that home to work mileage is private and therefore not subject to being paid for without being taxed. So what makes you different? Even working at a home office would not necassarily change this treatment. Does your contract of employment state that you work at your home office or the company's office? If it states that your normal place of employment is your home office then travel to other offices, including the company's own office, becomes business travel.
have you thought of Quick Books Hi Bob, have you thought of using Quick Books for time recording and billing?
The time recording software is pretty comprehensive. The only downside is that it would be expensive to have a registered copy of the software on everybodies pc. Having the software on just one machine might not be what you were thinking of, but it is a cost effective solution!
The link between billing and time recording is pretty good as well.
I'm free! I already work for another accountancy practice as a 'safe pair of hands' on a pure audit basis. I have signed a non-poaching agreement with them and am quite happy to sign one with you as well. [email protected]
what taper relief I think you are right. The company investing (or just holding a share in) the parnership is carrying on an investment activity. The company itself is not trading and therefore does not qualify for business taper relief.
If the amounts are big enough I would suggest you looked at using a non-resident company to hold the investment through as you maybe able to get a good capital gains result that way. But this is not straightforward.
Of course you can use a Ltd Co I run an accountancy practice, including forming limited companies. I operate some of the practice through a ltd co and some as a sole trade. There is absolutely no problem with using ltd co's. let me know on [email protected] if you want to discuss this.
Practical advice for a practical problem Ian, I am a chartered accountant and I get asked this question a lot - and my answer is use a simple spreadsheet if you want to cut costs and use Quick Books if you want the benefits of a computerised package. QB is so easy to use - and your accountant should be able to correct any mistakes you make without too much hassle. You should be able to buy an entry level version of QB for under £100 and a couple of hours of playing around with the package will get you up and running. Good luck with your new business.
My answers
I'm interested too
Stephen as another sole practitioner I am also interested in your offer of a management database. But what is your email address?
Look at your contract first
The Revenue's basic position is that home to work mileage is private and therefore not subject to being paid for without being taxed. So what makes you different? Even working at a home office would not necassarily change this treatment. Does your contract of employment state that you work at your home office or the company's office? If it states that your normal place of employment is your home office then travel to other offices, including the company's own office, becomes business travel.
have you thought of Quick Books
Hi Bob, have you thought of using Quick Books for time recording and billing?
The time recording software is pretty comprehensive. The only downside is that it would be expensive to have a registered copy of the software on everybodies pc. Having the software on just one machine might not be what you were thinking of, but it is a cost effective solution!
The link between billing and time recording is pretty good as well.
I'm free!
I already work for another accountancy practice as a 'safe pair of hands' on a pure audit basis. I have signed a non-poaching agreement with them and am quite happy to sign one with you as well. [email protected]
what taper relief
I think you are right. The company investing (or just holding a share in) the parnership is carrying on an investment activity. The company itself is not trading and therefore does not qualify for business taper relief.
If the amounts are big enough I would suggest you looked at using a non-resident company to hold the investment through as you maybe able to get a good capital gains result that way. But this is not straightforward.
Of course you can use a Ltd Co
I run an accountancy practice, including forming limited companies. I operate some of the practice through a ltd co and some as a sole trade. There is absolutely no problem with using ltd co's. let me know on [email protected] if you want to discuss this.
Practical advice for a practical problem
Ian, I am a chartered accountant and I get asked this question a lot - and my answer is use a simple spreadsheet if you want to cut costs and use Quick Books if you want the benefits of a computerised package. QB is so easy to use - and your accountant should be able to correct any mistakes you make without too much hassle. You should be able to buy an entry level version of QB for under £100 and a couple of hours of playing around with the package will get you up and running. Good luck with your new business.