Recent content by topgear13

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    Bounce back loan / dividends at 0%

    maybe I’m losing plot so I have 20k profit sitting in my account to take it out I pay 7.5% tax. So I could take £20k loan transfer it out from my business account as a salary. Then when it’s time to pay it back you you use your £20k that you would have been taxed on if you were going to...
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    Bounce back loan / dividends at 0%

    This is only scheme avail to me is this as in my first year of business I only took out £2000 tax free dividends and lived off my wife’s salary. now I have cash in business account it makes sense I don’t need the money out my account but if I can save 7.5% in dividends tax it’s a no brainer
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    Bounce back loan / dividends at 0%

    Am I missing something ? So basically companies can get the BBL and the director can withdrawal it for salary then in 1 years time before interest due repay back the loan using the cash in company’s bank account thus saving 7.5% on dividends. I also think it’s so open to abuse as...
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    Offsetting costs for office in garden

    I am looking at getting an outside building ( garden room) solely to run my business from initially I was going to put costs through my limited company but someone one mentioned to me that may cause issues if I sell my house as my company owns the outhouse and it is an Asset I assume it is...
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    Self-employed average: HMRC helpline don’t know any facts

    thanks for confirming I thought that. I understand only released yesterday but to phone the helpline and for them not to know the basics what chance have we got.
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    Self-employed average: HMRC helpline don’t know any facts

    ok guys anyone got a better understanding of this self employment assistance ?? my wife’s a childminder For last 3 years trading been roughly below each year net profit - £15344 Less personal allowance £11500 so tax paid on £3844. Woman in Hmrc helpline reckons it’s the £3844 after...
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    Limited Company Directors? Employed or Self Employed

    Up until last year the flats were my income and sole earnings apart from a part time self employed job I included in the return so I see that as my wages as could not claim benefits. So basically I have been a self employed landlord
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    Limited Company Directors? Employed or Self Employed

    Sorry I don’t understand what you mean ? The flats have fallen below the £12500 yearly tax allowance In respect of the limited company it does make money and I will have corporation tax to pay
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    Limited Company Directors? Employed or Self Employed

    Yes 2 flats are rented out and still are as I get money direct from the local housing authority Accountant advised not advantageous to take the min salary to cover the ni stamp based on the circumstances, most small business only PAYE to minimum I believe and if you work that back say the 80%...
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    Limited Company Directors? Employed or Self Employed

    I do a self assessment for 2 flats I own so I have 3 years of history self assessments for that. I have also just completed my first year of a limited company I am sole director and don’t take a salary I took small dividend being first year of business So where will I stand ?
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    Helps coming for self employed — House of Commons bill

    Committee of the whole House: 23 March 2020 14 Coronavirus Bill, continued “Statutory self-employment pay (1) The Secretary of State must, by regulations, introduce a scheme of Statutory Self- Employment Pay. (2) The scheme must make provision for payments to be made out...
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    Where’s help for real self employed people ???

    Take me out scenario I have just finished my first year of business !! You are cherry picking my wife is a registered childminder in our home Is she meant to have a contingency plan ? Talk sense Where’s the help.
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    Where’s help for real self employed people ???

    Wife’s a childminder so loses all her income now schools are closed and most of her clients are teachers I run my own limited company on my own also. So where do I get income from ??? So where’s the help for the real self employed people. GOVERNMENT DONT GIVE A SHIT ABOUT REAL PEOPLE...
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    Making wife a director Ltd co — tax benefits ?

    Nature of my business is I have zero outlay I don’t buy or sell any products or services. I get paid for referring business which someone gives me and they get a percentage of the fee I get. 2 companies pay me and I pay out a referral fee to one business. That’s the set up no risk no debt
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    Making wife a director Ltd co — tax benefits ?

    Sorry mate I refer business. So no machinery. I get paid by 2 persons I refer business to so it’s too straight forward
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