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Running a limited company, financially viable?

Q. I am a contractor employed by an agent working in a local authority. I pay myself through a Limited Company. After April If I am deemed to be inside IR35 I understand I will have to pay the same tax and NI as a permanent employee. My question is, if I end up being inside IR35,...

Public Sector IR35 Investigation

Q. My last contract was in the Public Sector and I was subject to an IR35 investigation which I passed as both my contract and working practices were outside of IR35. HMRC stated they would not perform another IR35 investigation in the next 3 years if my working practices did not...

EBT and Contractor Loan Schemes

Q. It seems clear that hmrc are pushing ahead with their drive to make contractors who used EBT and contractor loan schemes liable for tax they see as owing, with the 2018/2019 tax year when they demand payment. Many (ex) contractors, who entered these arrangements in good faith,...

Public Sector IR35 Rules: Am I liable?

Q. I’m hoping you can help. As you will be well aware new off-payroll rules will come into effect in April for contractors operating within the public sector. I am a contractor operating my own Limited company engaged through an employment agency. I send a timesheet to the end ...

Accountant’s Responsibilities

Q. At the moment 'accountants' have a legal duty to ensure the PSC are complying to money laundering legislation. Considering the changes in the IR35 legisation; from April 17 is there any legal requirement to ensure that the 'accountant' we take on to do our accounts; are paying...

Autumn Statement FRS Rules

Q. Regarding the Autumn statement FRS rules. Is it safe to say the the definition of bought in goods also include bought in services? For example if a I am a plumber and the size of my contracts varies, meaning I have buy in the services of other plumbers or an electrician, would...

Inside IR35

Q. One of my contracts has been ruled as falling within IR35 and as such HMRC have sent me a bill for personal tax and NI contributions. I contest this but now need legal advise on where I stand with regards to whether I have a chance at tribunal to contest this decision.A. Q...

Self-Employed or PSC?

Q. My wife and I both work in the public sector under our Limited Company and through an agency. Our company income is disbursed via salary, personal expenses, dividends and company expenses such as Business Insurance. I have just been asked by my client to provide an assurance t...

Public Sector IR35 Concerns

The new public sector IR35 arrangements look very complicated and raises a number of questions:

  1. Q. If the contractor has insufficient income to use all his allowances in the tax year, is the tax deducted by the employer from the payments made to the PSC repayable?

Public Sector – Will agencies make blanket status decisions?

Q. With regards to the new Public Sector IR35 rules confirmed as proceeding next year, there is a very important question that I haven't seen asked yet which could have severe implications to both contractors and the Public Sector services. Where a contractor is currently deemed ...

Limited company VAT registration

Q. I started my LTD almost 4 months ago, I got the services of an accountancy company that did all the paperwork for me, including VAT registration. Problem is, after 4 months, VAT registration is still ongoing. They just argue that there are problems with HMRC, that this is h...

Contractor Health & Safety: Who is Liable?

Q. Question relating to my liability for the management of other staff within the organisation that I am contracted - I am a Ltd. contractor working for a company (company-A) via an agency. I am managing staff at company-A, some of which are company-A employees, some are Ltd. ...

Self Assessment: Umbrella Loan

Q. I have been asked to fill in a 2013 Self Assessment for a time I worked for an umbrella company. I was given a loan by the company. How do I enter this into my Self Assessment?

A. If you received a loan from your umbrella company the total value of the loan receiv...