Recent content by James MIller

  1. J

    Company car for employee

    HMRC have a calculator car tax calculator http://cccfcalculator.hmrc.gov.uk/CCF0.aspx if you speak to your accountant it maybe more tax effective to deal with it in different ways. You could look at salary sacrifice schemes which for low emissions cars could work. Paying a mileage allowance may...
  2. J

    Tax and NI for newbie

    Timi23111 not sure if you understand john1989 comment about IR35 but this is what you should be speaking to an accountant about to make sure you are dealing with your affairs in the correct way and whether you should be taking dividends or salary. If you are a member of a contractors association...
  3. J

    Director payment from a company with low- and irregular-income

    If there are three directors shareholders, dividends would have to be awarded to all three and not just two. PAYE is the way to go. A couple of things, set the scheme up, make sure you mark each as a director as NI calculation is different, if you qualify claim the £2000 nic rebate, this will...
  4. J

    Director payment from a company with low- and irregular-income

    You mention you and two students. Are you all directors and shareholders? Or is your colleague somebody else? I would agree with Scalloway that PAYE would seem to be the way to go.
  5. J

    Cash gift from grandparent for deposit on house

    As Tony84 said it should normally be enough that you've paid it into your account. The banks though will ask where it has come from and if they are satisfied with the answer / evidence will let you deposit it.
  6. J

    Starting an LTD business. Address needed

    Not sure if you have a bank account at the minute. But sometimes can be a pain to setup if you're using a registered office service. I set my bank account up then moved to a registered office address. They do vary greatly on what they will do and for what. Mine will only send letters to me...
  7. J

    Would you still be able to trade if you had no internet?

    We have a leased 100mb line but also a 10mb line through another service provider. We also have 4g access on phones and dongles. Our websites are based on Microsofts Azures platform, which is redundant and mirrored. So if we lost one of these we would probably be OK long enough to start our...
  8. J

    Receiving funds to overseas bank account

    Hi Stella I have had bank accounts which have been based in other countries and they have never caused me an issue. Kind regards James
  9. J

    Do I need to register my LTD as an employer if I am not taking a salary?

    Apologies. A bad choice of words. This post was meant to be a sensible approach for a business owner. Where I have experienced HMRC arguing that part of a directors role should be paid was within a complex situation and not a quoted piece of legislation. This was just one of their lines of...
  10. J

    Any reason not to choose NEST for AE pension scheme?

    NEST is run by TATA Consultancy Services which is part of the TATA Group quoted on the Bombay Stock Exchange. TATA is better know globally and in the UK for its steel business. It is the governments default scheme, basically they needed somewhere for companies so there was a pension available...
  11. J

    Do I need to register my LTD as an employer if I am not taking a salary?

    You could use HMRC basic tools as well.
  12. J

    Do I need to register my LTD as an employer if I am not taking a salary?

    HMRC cannot force you to take a salary. The point is that as a director you are performing a salaried role. Therefore they could question why you are doing it for free. When dividends are low probably not such an issue but when dividends are higher and there is no salary it looks as though you...
  13. J

    Do I need to register my LTD as an employer if I am not taking a salary?

    Dividends and business expenses can be taken without having a PAYE scheme. Generally though it is usually better to take a small salary for a couple of reasons. You want to utilise your personal allowance. Drawing a small salary will reserve your rights to a pension and other entitlements...
  14. J

    Any reason not to choose NEST for AE pension scheme?

    Personal opinion I prefer other schemes to NEST. Nest is a passive scheme and you will probably see little in the way of growth as it is a very low risk scheme. If you just want to be compliant then I would look at Peoples Pension or Now. If you want something that has the potential to reward...
  15. J

    Pay increase

    Holding an employee to their notice period is usually a pain and generally waited in the employees favour. A court would want to know how you have lost out and as you have already found other designers maybe you have not lost out. With regards to holding money unless you have this in your...
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