Recent content by NickMoore

  1. NickMoore

    Reverse charge for your Google adwords

    In you day to day accounts just record it as a straight £100 cost, no VAT element. (But note it as an EC services reverse charge purchase, if your accounts software has such a feature.) Then in your VAT return add the £20 to the figures in both box 1 and box 4. (Good software will do that for...
  2. NickMoore

    How do i reduce paying 40% Tax deductions

    You could also think about putting money in a SIPP (self invested personal pension) which you get tax relief on.
  3. NickMoore

    Indexation Allowance calculation for CGT

    Let's say a UK Limited company has some spare cash and invests it in holdings of a single asset (e.g. a unit trust) over a period of a number of years. Later, it sells part of the holding making a chargeable gain. How to identify which shares were sold so as to calculate the gain and the...
  4. NickMoore

    Closing a LTD company with assets

    Would it not be easiest for the company just to pay a dividend of £2K?
  5. NickMoore

    Invoicing Man Days

    Invoice what you think is fair to both parties, and see how the customer responds. If the customer has a dispute with your method they can take it up with you, and you can then negotiate.
  6. NickMoore

    Domain Name

    Probably is an asset to be depreciated but I don't think the registration period comes into it. There are three parties involved. You buy the domain for $2000 from the private seller but you register it separately with Nominet (or whichever registrar) for a small fee (about £10 per year)...
  7. NickMoore

    Do I pay tax on money invested in house?

    Yes you will have to pay tax. What you do with the money after you earn it has no effect on the tax you have to pay. Buy a house, spend it on a holiday, put in the bank, burn it. Makes no difference. You declare the income in your tax return for the year ending 5 Apr 2014. You have to pay the...
  8. NickMoore

    Ebay seller - Ltd or Sole Trader ?

    Also take a look at this thread.
  9. NickMoore

    Selling a domain name

    The market value is the best price you could get if you sold it today. So the current market value is £1million.
  10. NickMoore

    Accountancy fees for an asset purchase

    Is A purchasing the assets from B at a fair market price? (i.e. 'arms length' valuation)? Since £15000 is a relatively small asset purchase I wouldn't sweat it too much or worry about HMRC taking much interest. Get company B to make up an invoice/deed of sale and present it to company A...
  11. NickMoore

    Ltd Accounts submission

    Companies House has quite a nice web-based filing system for abbreviated accounts now, in case you don't like doing the joint filing thing.
  12. NickMoore

    Nominee Shareholders in Unlimited Companies

    If the idea is to use an unlimited company to avoid publishing accounts, then be aware that if the company's parent is a Ltd Co then the exemption from CH account filing does not apply.
  13. NickMoore

    Limited Company Structure Help!

    No tax is chargeable on receipt of "straightforward" dividends received by a "small company" (less than 50 employees) from another UK resident company. There are exceptions and complications ... This was simple until 2009 until changes were made and made it all really complicated...
  14. NickMoore

    Div V Salary

    I make it £30383 precisely. My working: Salary 7692.00 Net dividend 30383.00 + Tax credit 3375.88 = Gross dividend (rounded down to nearest pound - HMRC does this) 33,758.00 Total taxable income: 41450.00 The magic number 41450 (9440+32010) is what tells us there's no tax to pay.
  15. NickMoore

    Setting up a limited company bank account..... ball ache

    If you use Barclays, don't just walk into the branch hoping to see someone. Instead, call their central number and they'll arrange an appointment at your local branch.
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