Recent content by Alfaz

  1. A

    Opening Limited Company

    I am about to make a bit of a leap of faith into starting my own consultancy business, however I am unsure what the most tax-efficient way is to go about this, as I was planning to operate as a sole trader but now I think there could be a better way. Initially I would be working for 3...
  2. A

    Does super deduction apply to purchase of new equipment which will be fixed to a used asset?

    We are looking at purchasing a used truck chassis and buying a new body which will be fitted to it. This truck and body will be used to transport machinery (the company is a specialist transport company). Obviously as the truck chassis is used, that will not qualify for the super deduction...
  3. A

    Can someone be Employed and Self-Employed by the same company at the same time?

    Is it possible for someone to be employed by a company for one job but also be payed as a sole trader for another job at the same company? For example; Employed for 14 hours a week at £13.50 per hour on PAYE as a HR Assistant. Also self-employed by the same company for £3700 per month (working...
  4. A

    Invoicing labour between sister companies

    I have a situation where company A employs 5 people who only work for company B. Company B is a new company and doesn't yet have a separate payroll so company A employs the staff and 'lends' them to company B. Obviously company B should be invoiced for this labour but just wondered how...
  5. A

    Expenditure on Rented Office

    Thanks for all your advice.
  6. A

    Expenditure on Rented Office

    Hello We have just spent £43k on an office fitout to a building we are renting on a 5 year lease. This is fixed items such as new carpets, decorating, built in cupboards and a canteen. We agreed to pay this ourselves as the landlord is charging a very favorable level of rent and was not...
  7. A

    Lending money from Ltd company to a Partnership

    The Managing Director of our company, who is majority shareholder, has been lending money to his partnership company. I am looking for advice on how this should be dealt with. At the moment this is being recorded through an intercompany account, but unsure as to whether this should actually be...
  8. A

    Inventory Valuation - What is correct?

    As a young inexperienced accountant, I am a bit confused as to whether our inventory is being valued correctly and don't want to challenge my manager until I know I am talking sense! Our inventory is valued at the latest cost price: so where we have 50 of an item in stock that cost £50 and we...
  9. A

    100% First Year Allowance

    Thanks, that does help. He does a 50 mile commute each way 5 days a week which is why the mileage is so high! From calculations i have done, i have discovered that the car costs the company £11k a year in total (including actual depreciation, fuel, NIC, insurance, servicing and repairs)...
  10. A

    100% First Year Allowance

    Another question if i may relating to company cars, if we were to offer an employee earning £60k a car allowance instead of his current Skoda Octavia company car, what would be a reasonable amount? This employee is a manager who covers 30000 miles a year in his company car, but only around 5000...
  11. A

    100% First Year Allowance

    Yes, there are significant savings to be had there, another thing i noticed is that there is currently 0% fuel benefit tax on electric cars. Is this worth taking advantage of or not? The car would do approx 15000 miles a year but not sure how much that would cost in electricity! However i...
  12. A

    100% First Year Allowance

    I thought there would be a catch somewhere o_O Thanks for your help.
  13. A

    100% First Year Allowance

    Hello Just looking for a bit of advice. I am looking into a few options for Company Cars on behalf of a director and I have come across this First Year Allowance that is available for Electric cars. My question is, would it be possible to take advantage of this first year allowance on buying...
See more
Top Bottom
Community
Articles
Menu