I receive correspondence from my Institute (ICAEW) with my membership number on and have a qualification certificate but no membership letter. I would not provide a copy of my certificate and I would be surprised if many accountants did. The accountant is more likely to note down their membership nu...
You don't need to register the business as an Employer if you are a sole trader. Sole traders don't take a salary from the business, they take drawings.
It is up to you whether or not you wish to show them as business expenses. From a tax perspective, they are not self-employed business expenses and cannot be claimed as such when it comes to self assessment return filing time. It therefore follows that there is no point in including them in your ac...
Your accountant will write in their letter that they are your accountant and then let UKBA know their registration/firm number in the same letter. The UKBA then carry out any checks that they require.
bash you are going to have to wait longer than 40 minutes for a reply - we aren't free hires that give (again free) advice on demand! Now .... I have not yet received any accoutant confirmation letter from.hmrc. What do you mean by this sorry? Are you looking to see if your accountant holds a qualif...
No - but remember that you will be paying tax and NI on this salary and the company must also be set up as an Employer with HMRC to run the PAYE system. Neither have been mentioned so do make sure that your company is complying with its tax obligations.
But recently there is so much confusion in this forum and I am not sure if I should apply as employed or self employed. There isn't any confusion at least as far as I'm concerned. This is what the UKBA say in their own words: Under Part 6A of these Rules, "Self-Employed" means an applicant is regis...
You are I'm afraid zuby! As far as HMRC are concerned, in the situation you are employed . Therefore Class 2 and Class 4 NI is not payable and any NI is paid (via Class 1) through the PAYE system. As far as UKBA is concerned, which is the main thing for the application, you are self employed . To re...
Sorry to come across as a pedant but ... In addition, if the profits are above 5,650 GBP, there will be additional type-4 NI Contribution at the rate of 8%-9% of profits up to 42,475 GBP, plus 2% on profits over 42,474. The class 4 lower profits limit has now changed. For those filling in a tax retu...
No that won't apply to you. In your situation you are self employed as far as the UKBA is concerned but not as far as HMRC is concerned. Therefore you won't register with HMRC as you would if you are a sole trader. By all means call them if you want a second opinion but you will be told the same thi...
No. That's for sole traders (and partners) only. Even though in your situation you are self employed in the eyes of the UKBA, you aren't as far as HMRC (or pretty much everybody else) is concerned.
Oops sorry priyakute I should check my posts twice on a Monday morning before pressing submit! I did mean self-employed as I'm sure sushdmehta will have realised given my spiel about the HMRC and accountants after it. Just in case if you don't believe me (or even if he/she doesn't) here is what UKBA...
From your PM UKT1G (as my signature says, I can't answer PMs so please don't send) I need your advice with regards to tax payment on full time employment in foriegn country where there is no taxation. I am filing for Tier1 General Extension with overseas employment. Do i need to show any tax returns...
For the purposes of the UKBA you are employed (even though HMRC and accountants/tax people would always say differently, it's not up to them in this case!) You will not register and pay class 2 National Insurance. That is for those who are self employed in the eyes of HMRC. You will be paying class ...
If the accountant isn't fully qualified then it's a no: 112. Where an applicant is providing evidence from an accountant or accountancy firm the accountant must be either a fully qualified chartered accountant or a certified accountant who is a member of a registered body. If the earnings were for w...
Could I please also request AccountantMatthew for his valuable advice? Sorry mika, I've been busy with the day job! You wouldn't be being considered unprofessional by a caseworker if your earnings period does not co-incide with your accounting year. In the majority of cases this scenario will arise...
You will be claiming self employment profits for your earnings period which will be different to your accounting year (and what is provided for HMRC). Therefore you will be drafting a separate set of accounts for UKBA. So for HMRC your accounts will cover Aprill 11 to April 12 and for UKBA your acco...
You've done all that you can in your control mika so it's a bit of a wasted energy in panicking to be honest! You will be far from unique in your situation. HMRC's NI bills are all sent out 6 monthly now and you can prove that you have been paying this from previous bills and you can also prove you ...
