Recent content by -Joe-

  1. J

    Personal tax return accounting - worth it?

    There will be some other income, from other smaller businesses I run. I haven't sorted out PAYE yet, although yes, it will be PAYE and dividends, the side income, as well as a directors loan account. The main business is likely to be high maintenance, with 7-8 figure yearly turnover. The...
  2. J

    Personal tax return accounting - worth it?

    Hi there, just wondering, my accountant's quoted me £3k for company accounts, and £510 for personal accounts (excluding corporation tax relief and higher rate tax relief) including VAT (well over threshold, but goods are VAT exempt) for my accounting. Up until now, I've been doing my personal...
  3. J

    Purchases on Company Credit Card, same protection as personal credit card?

    I think the only way to find out would be to dig through the T&Cs. They're only normally a few pages. For example, Amex almost certainly would, the same may not be said of some of the more low-end credit cards.
  4. J

    Any advantage of having a subsidiary over an independent company?

    Hi there, I currently have a company. However, I'm setting up a new website (which will be a business in itself). I think it would make sense to have the website as a separate company, to separate it from the main business, for CGT efficiency, to make it easier to sell separately, and to isolate...
  5. J

    Scanning receipts - is the back actually important?

    Excellent! Thanks very much for the help everyone, that saves a lot of hassle :)
  6. J

    Scanning receipts - is the back actually important?

    Hi there, just organising my life at the moment, and part of that is getting receipt management sorted. I'll be using an iPhone app to scan and read them, then disposing of the paper copies, which HMRC says is acceptable. However, they also say to scan the front and back...
  7. J

    Solicitor for economic tort case

    Hello there, I'm looking for a solicitor for an economic tort case, £XX,XXX value. The person in question committed a malicious falsehood, 5 times in a 45 minute period, taking advantage of a program bug that had occurred due to a sudden site redesign. It seems he stopped around the time when I...
  8. J

    Which currency exchange rate to use on invoice?

    Are you only selling abroad, or are you selling in the UK too? Are you holding funds in EUR, or only GBP? Do you have any history/information from your bank on what the general commission they take for currency exchange is?
  9. J

    How to allocate shares for company owned by holding company?

    Hi there, I'm about to convert a niche finance site I have into a more broad finance site, and am in the process of setting everything up. Part of that is setting up a company for the site. I have other businesses, and I have one registered company that's not being traded under, that I'm...
  10. J

    UK CFCs - Low Profit Margin Exemption?

    Excellent to hear! Thanks very much. Dividends should be minimal, I don't need a lot to live on, so tax shouldn't be too much of a problem there. Would a business falling under the low profit margin exemption be allowed to do all 3 levels of management inside the UK, providing there are...
  11. J

    UK CFCs - Low Profit Margin Exemption?

    It's selling a low margin, high demand product - for obvious reasons, I'd prefer not to post too much more about it than that - if you tell me where your line of thinking is, I can tell you whether it would apply or not. And yes, turnover + profit figures are roughly correct.
  12. J

    UK CFCs - Low Profit Margin Exemption?

    Yeah, and high 6 figures, low 7 figures.
  13. J

    UK CFCs - Low Profit Margin Exemption?

    I'm querying whether someone who makes a margin of less than 10%,with a mix of global/UK/EU income, could form a business outside of the UK in say Gibraltar, make it owned by a UK holding company, and exercise management and control from the UK without being liable for UK tax, except for any...
  14. J

    UK CFCs - Low Profit Margin Exemption?

    I'm gonna give this a bump. Someone must know?
  15. J

    UK CFCs - Low Profit Margin Exemption?

    (sorry, can't edit anymore) Quote of the law on it, can't see any problems, but I must be wrong?? http://www.hmrc.gov.uk/drafts/chapter-13-update.pdf HMRC's short pdf on it.
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