Recent content by adam thompson1981

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    Repair my van or get rid of it?

    Generally speaking running and repairing an older car or van will always be a better financial move than buying a new one, even more so if you are getting it on finance For example my mate bought a brand new van in 2022 24k plus vat so 29k cost as hes not vat reg, plus the finance insterest. 3...
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    Pressure washing driveways

    £300 a day minimum labour plus your costs, to do pressure washing properly you need at least 2k in machine plus the rest. Turning up with a mains powered karcher lol ok.
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    2 company vans and BIK?

    Hi. I am a sole director operating from my home address (company is registered elsewhere) I have a pickup truck for work, i use it personally so accept their is a BIK charge on this. However i am about to get a second vehicle a van. Now if i buy this through the company and use it solely for...
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    Sacking employee

    Hi. I have had a lad working for me for 3 months now, in that time he has made multiple mistakes which could have been avoided. Hes also hit my van 3 times! the first 2 were superficial bumps, its an old van and i let it go But this time hes hit a 3rd party and its going to cost me £300 to...
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    Can i claim mileage and actual expenses for separate vehicles ?

    My old accountant says you cant do this, yet my new one says you can. Ive tried google and i cant find an answer, hoping someone can help I have a Ltd co. I use a van which is my personal van and charge the company mileage, simple. I have recently purchased another van via the company and am...
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    Salary reduction

    You don't have to agree to sign a new contract. If you don't like it, don't sign it.
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    Employed by my own company advice

    Self employed have got the best deal. They have to wait whilst June, but will get 3 months pay backdated and on top of that are allowed to trade in the mean time. Employees will get 80% of salary for doing naff all. Meanwhile directors will get 80% of their PAYE which for most won't be...
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    Who will pay the covid financial bailout bill?

    Every tax payer will. Although it should be those who receive it who pay it back. Life isn't fair.
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    Employed by my own company advice

    Its definitely a raw deal as a director vs a sole trader in this situation but what can you do. Lets just hope things get back to normal asap then we dont have to suffer with no income for too long.
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    Employed by my own company advice

    So anyone who operates as a ltd company vs being a sole trader is a fat cat? And why did you leave out the fact companies pay corporation tax? For a ltd company operating under the Vat threshold there's hardly anything in the take home pay of a sole director of he were Ltd or sole trader. I...
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    Should I switch to an LTD?

    I wouldn't do anything yet. As it stands you are entitled to claim 80% of your self employed profits. Change to Ltd and get nothing Wait till the corona kindly fecks off
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    Employed by my own company advice

    No idea about N.I tbh all I know is a sole director Im no better off take home pay than if I were a sole trader. There's probably £300 a year in it. I only went limited for the liability aspect when employing as I was advised to.
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    Employed by my own company advice

    My accountant told me on friday a definite no a sole director can't be furloughed, apparently she had checked this with HMRC and from searching the Internet it seemed to be the case. However reading your posts the last couple of days has given me hope. Obviously I'm still pessimistic and...
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    Employed by my own company advice

    I'm not even bothered about dividends, just give us something even if its just 80% of PAYE salary. There's a petition here...
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    Complete Lockdown

    He's trying to avoid a full lockdown to keep the economy running. Of course a tighter lockdown pushes down the infections but they are trying to find a balance between keeping the infection rates low enough to deal with whilst keeping the country running to some extent.
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