Readers questions: I have a limited company and I am the only person who works for the company and I am the only director. Will I get the government grant for COVID-19 as self-employed?[continue reading…]
Readers questions: Can I be a limited company if I am a not a UK tax resident? I left the UK 7 years ago and live in Spain. I have been asked by an agency who I will be working overseas for, to supply invoices for work done. Can I issue an invoice to this agency without being registered as a limited company?
Reader’s question: I am about to start working for several companies as a self-employed transport consultant. Which would be better for me limited company or sole trader?
Reader’s question: As the sole director of my own company, if I pay myself £200 per week does this mean my corporation tax will be less? And what amount of dividends can I take?
Readers question: I own a limited company that is solvent and, due to medical issues, I wish to close it. My question is, as the MD of the company, can I close it and receive a tax-free redundancy payment of £30,000?
Readers question: I was wondering if I could get some advice about being self-employed and living abroad. I want to open a business account as a sole trader in the UK and pay my national insurance and pension to the UK. However, I live in Slovenia with temporary residency, as I am a British citizen. I live here as I got married to a Slovenian. I wanted to know how can I open as a sole trader as I work from home online teaching on a platform based in Asia. They just pay my salary nothing else. What would I have to pay to Slovenia as I live here and would I have to pay double social security? Or claim my benefits from the UK when I need them. Also, would I need a virtual office in the UK? My students, I just interact with them from the website the company provides.
Readers questions: My partner and I have between us around 30,000 thousand pounds worth of tools/equipment as a sole trader, can we take them over to the ltd company or can the ltd company pay for them? We don’t want money out, we would like to offset our tax bill, can it be done?
Readers Questions: Does limited liability still apply with just one director?
Readers question: I have set up my own catering company at the moment and I am doing the food in a large Irish bar in Edinburgh. I will be paying my employee and buying all the food stock etc. My query is, would I be better off being an employee of my company and paying tax NI as normal with the addition of employer NI, or would I be better to take dividends monthly as my salary, my salary will be £40,000 per annum.
Readers Question: I was wondering how do I record refunds that I give to clients for services not received in my accounts. Should I amend the invoice or does it go on my expenses side?
Readers Question: I do fostering and am classed as self-employed and I have an accountant that deals with my accounts and also my personal allowances with the tax office. I am thinking of running a property business – buy to let and set up a limited company. Will I need a different accountant to deal with my small business company hence 2 accountants?