Recent content by Maslins

  1. Maslins

    Biz account, multiple users

    What I'm hoping for is to get a company current bank account that: - multiple people can login independently, - any one person can easily create and authorise payments, - we can trace who did what (in case of questionable payments), - modern, syncs nicely with bookkeeping etc. Does such a thing...
  2. Maslins

    LTD Company - Company car or not.

    If it does indeed meet the criteria for a pool car, then that's likely to work out nicely for you (ie to get a company car). However, the criteria for pool cars are very strict, and onus is often on you to evidence it qualifies, rather than HMRC to prove it doesn't. If you're unsure if it'd...
  3. Maslins

    Want to dissolve Ltd Co of 10mths - questions about the Spongebob plan

    Spongebob, read the OP in this thread and tell me you're happy that this is indeed some unfortunate soul trying hard to move on from a failing business. Accountants on this forum who struggle with your "advice" don't do so because they're pedants, but because it's being used by many high...
  4. Maslins

    Want to dissolve Ltd Co of 10mths - questions about the Spongebob plan

    It's threads like this that made me pretty much give up on this forum. Surely the forum owners have an obligation under AML to report people like this?
  5. Maslins

    Standing Order v Direct Debit

    Typically a standing order form you would never need to see. They'd deal with it with their own bank (though probably online rather than completing a paper form these days). This would then lead to a set amount going from their account to yours each month, nothing you can do about it. Direct...
  6. Maslins

    Lending money to one company to another

    Receiving a loan is not taxable income, similarly lending someone money is not a valid expense. It's a balance sheet movement, no P&L impact. Any interest charged would potentially be allowable/deductable, but probably complicating things unnecessarily. If it were me, I'd be inclined to try to...
  7. Maslins

    How much does it cost to run a none trading company?

    Interesting. Wonder whether he also has a practising certificate or whether his institute would discipline him if they found out he was moonlighting. Fair play though, I have no qualms with a bit of healthy competition provided everybody's on a level playing field.
  8. Maslins

    Contractor Limited Company Business Tax

    FreeAgent is indeed great for contractors. Bit confused by some of your comments re company and personal tax...the two are very different things, and corporation tax paid shouldn't feature anywhere on a personal tax return (or vice versa).
  9. Maslins

    How to close a business?

    If your company was profitable in the first year, it'll likely have a corporation tax liability to pay. If it can't pay that, question is whether that's because: 1) subsequent unexpected losses wiped out any historic profit...in which case carrying those back might legitimately eliminate any...
  10. Maslins

    Accounts software - any recommendations?

    FreeAgent does indeed help with payroll filing (and VAT). Think it's currently the only one of the cloud bookkeeping packages to have built in payroll but might be wrong on that. Many do VAT these days. As for statutory accounts/CT returns, afraid not. Might be able to in the future though...
  11. Maslins

    Joint purchase of flat to rent financed by (or bought with) close ltd company & individual

    If the person's in a PAYE role and has no likely need for the company short term, another option would be to close it down via a members voluntary liquidation. That way assuming it qualifies for entrepreneurs relief, they could get their hands on the £50k cash with a tax liability of ~£4k...
  12. Maslins

    Umbrella Company vs Own Limited Company

    That's not necessarily relevant. I'd recommend you do a bit more reading around IR35. If you still think the contract will be inside IR35 then go brolly. The tax savings when inside IR35 of going Ltd are trivial, and you've still got all the admin hassle. If it'll be outside IR35 then I'd...
  13. Maslins

    Does anyone use the Annual Accounting Scheme for VAT?

    I don't see any benefit of it at all. - You have to make monthly payments, instead of quarterly. - You have the hassle of reconciling those monthly payments against the annual submission, and paying the balance. - I don't get the seasonal argument...if your turnover is seasonal, then surely the...
  14. Maslins

    Forget fresh content - it's old stuff that you need

    Daft question, but what counts as new content? Ie, say fisicx tweaked a couple of words on a longstanding page. Would that mean Google would see some activity, hence assume the owner's keeping it up to date and therefore that it deserves additional credit?
  15. Maslins

    Closing a company & Transferring Assets?

    If the first company has fully ceased, I'd recommend instead of transferring the money to the new company, transfer it to yourself, then on to the new company. As the net assets are <£25k you should be able to get the £15k taxed on you as capital gains. If you've not many any other capital...
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