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Where Taxpayers and Advisers Meet

Search found 818 matches

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by tom 7000
Fri Jul 20, 2012 11:02 am
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Class 2 National Insurance, only working a few days a year
Replies: 2
Views: 1158

Re: Class 2 National Insurance, only working a few days a year

Its not your income that determines class 2 nic its your profits. Have you taken off all your travel expenses, the cost of your personal phones, working from home costs, pc, motor expenses, insurance, accountants fees etc. If you are £10 over the limit after having done this and will incurr the 100+...
by tom 7000
Mon Jul 16, 2012 12:39 pm
Forum: General
Topic: Family share ownwership and dividend waivers
Replies: 3
Views: 2735

Family share ownwership and dividend waivers

A recent circular I had from BKL said: Because everyone has his or her own personal allowances, basic rate and higher rate tax bands it can often be tax-efficient to arrange matters such that taxable income is “shared” between members of a family (typically husband and wife, civil partners or co-hab...
by tom 7000
Tue Mar 20, 2012 6:46 pm
Forum: General
Topic: extending accounting period and overlap relief
Replies: 1
Views: 1255

Re: extending accounting period and overlap relief

You ask hmrc to do it for you...thats what we do...then you cant get it wrong Mind you, why are you still self employed..are you the last one? Every one else has now changed to being Ltd co's as they are much much more tax efficient.... tom@ttca.co.uk for more info or I can tell you how much more ta...
by tom 7000
Tue Mar 20, 2012 6:43 pm
Forum: General
Topic: creditors voluntary liquidation
Replies: 1
Views: 1010

Re: creditors voluntary liquidation

It will be cheaper to talk to a senior tax manager at PWC and get their opinion...I am guessing here, but if you can show the payments were for the purpose of the trade and made when the co was solvent so there was no preference you may not have to pay them back. Also what about the guy who set up t...
by tom 7000
Tue Mar 20, 2012 6:37 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on gifts to family members
Replies: 2
Views: 789

Re: CGT on gifts to family members

Yes and he pays it

and its really complicated to work out and depends on
How long he had it
what it cost him
what he sold it for
if he lived in it and for how long
by tom 7000
Tue Mar 20, 2012 6:29 pm
Forum: International Tax
Topic: UK Company working in Geramny
Replies: 1
Views: 624

Re: UK Company working in Geramny

You need an international tax specialist and they are not cheap. KPMG - PWC etc If you have no funds or assets to to pay one to protect yourself Bankruptcy may be an option. I am guessing Germany have some strange rules to persue the director and Ltd liability does not stand. I would help ( for free...
by tom 7000
Tue Mar 20, 2012 6:14 pm
Forum: General
Topic: Is my C.I.S. 20% tax being paid
Replies: 3
Views: 1100

Re: Is my C.I.S. 20% tax being paid

GET THE PAYSLIPS...with these its proof it has...and erm...if the main contractor doesnt pay it over then HMRC will string him up to dry. Its not your responsibility to make your contractor pay, it is to get the payslips.

Did I say get the payslips...
by tom 7000
Tue Mar 20, 2012 6:12 pm
Forum: General
Topic: Annual Investment Allowance HELP PLEASE!!!
Replies: 3
Views: 1216

Re: Annual Investment Allowance HELP PLEASE!!!

might effect AIA of 4 farmers are they using theres? Need to check this I cant remember off the top of my massive head . Also AIA limit is changing soon?
by tom 7000
Tue Mar 20, 2012 6:10 pm
Forum: General
Topic: Annual Investment Allowance HELP PLEASE!!!
Replies: 3
Views: 1216

Re: Annual Investment Allowance HELP PLEASE!!!

A four person partnership machine hire business or Ltd co? I would be over the moon with that means I dont have to pull 100k out of my pocket and just pay a rental, preserving cashflow. I wouldnt have to pay any interest either, well suppose it depends on the rent rate. You will have to register the...

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