Recent content by duggimon

  1. duggimon

    Pay salary once every year

    You've got that wrong, with your salary paid to the DLA the company owes you money. The company can carry on owing you money for as long as you both like, it's only if you owe the company money that there may be an issue.
  2. duggimon

    Corp tax... again.... sorry!

    I don't know where you've got the idea Corporation Tax is based on gross profit but it is not. In your example where the income less the purchases less the expenses results in a loss there is no tax to pay.
  3. duggimon

    Paid personal money into LTD account which set up a foundation

    A company doesn't get a benefit in kind. Director's loan transactions don't remove the dormant status of a company either. More importantly though, as Scalloway also said, the point is moot if the company doesn't exist, even if there were liabilities they died with the company. Assuming we're...
  4. duggimon

    Last staw for bad accountant, so looking for a new one!

    The issue is one endemic in medium sized firms who are trying to make the best margins possible by firing work through as fast as possible and the standards nosedive. I work at a small firm serving mostly local clients and we pick up clients all the time from these 95% online accountancy...
  5. duggimon

    Just eat - vat - accountant - vat ?

    Just Eat aren't deducting any VAT, you're paying VAT once only. You pay VAT on the sales you make in the shop, plus the gross sales on the Just Eat invoices. The difference between the gross sales and the amount you receive in the bank payments form Just Eat isn't VAT they've taken off, it's...
  6. duggimon

    Paid personal money into LTD account which set up a foundation

    1. Liable for what? HMRC want to tax your income, you haven't mentioned any income. 2. I have no idea, I'm not sure what you mean by foundation. Nevertheless, if the company is dissolved you don't need to worry about doing any accounts.
  7. duggimon

    How Do I Pay Myself? - Start-Up

    It's already not feasible. Without wanting to be overly harsh, you don't understand the first thing about the relationship between yourself and the company and what is entailed in keeping things in order and minimising tax. Accountants don't all demand fees right off the bat and will be...
  8. duggimon

    Possible Accountant Blunder

    I see. You know you did, you went back and edited both times that you did! I don't know a great deal about RACs since I was only seven in 1988 but I would definitely double check that the payments are gross and not net because for something aimed specifically at the self employed that is a...
  9. duggimon

    Possible Accountant Blunder

    I'd be more curious as to how they managed to set it up at all nearly ten years after it stopped being available.
  10. duggimon

    Possible Accountant Blunder

    Then it's not a retirement annuity contract. Or the pensions advisory service are wrong, one or the other.
  11. duggimon

    Possible Accountant Blunder

    You definitely do not have a retirement annuity contract if it was set up in 1998, they stopped being available for new subscribers in 1988. https://www.pensionsadvisoryservice.org.uk/about-pensions/pensions-basics/contract-based-schemes/retirement-annuity-contracts
  12. duggimon

    best way to hold shares?

    If I was looking for the best tax outcome for a seven figure investment windfall then I too would turn to a free internet forum for tax advice, rather than a paid, trusted and insured professional.
  13. duggimon

    Non-cloud based accounting software recommendation

    Good to know, thanks.
  14. duggimon

    Struggling to pay Corp Tax.

    If you can cite the exact legislation under which they can withdraw the return (TMA 1970, s8B) you can often have success in having it withdrawn. This only applies if the person has no taxable income otherwise untaxed and they haven't already filed the requested return. It's also complete pot...
  15. duggimon

    Possible Accountant Blunder

    How did you discover the mistake? Are you certain that your contributions are paid gross? Seems a weird way to set up a pension for the self-employed.
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