Re: Good book on accounting for 1 man band Ltd


Tim wrote:
public.mark.m@xxxxxxxxxxxxxx wrote:
I want to try and do the whole thing myself, it will be fairly
simple situation i.e. monthly invoice, some expenses, 1
(me) employee on low salary, 2 directors me and partner)
(60/40) dividends, paid monthly. I have sage accounting
software. Just need a book, i will also be VAT registered.

"Troy Steadman" wrote
That "monthly invoice" sounds ominous.
Your first "read" may be to Google on IR35.

"Tim" wrote:
Don't forget, though, that "monthly invoice"
does NOT imply "caught by IR35"...

"Troy Steadman" wrote
"Monthly invoice" suggests one customer and regular invoicing,

"Tim" wrote:
Yes (but that doesn't imply that IR35 applies)...

"Troy Steadman" wrote
... "(me) employee" suggests one employee.

"Tim" wrote:
Again, yes -- but, again, that doesn't imply that IR35 applies!

"Troy Steadman" wrote
How many "badges of trade" so far Tim, IR35 or no IR35?

"Tim" wrote:
My "Troy-speak" translator is failing me here. What did you mean?

"Troy Steadman" wrote
Luckily my "Repeat to Tim" echo machine has not yet run out of echo.

You cannot decide for yourself whether you are
working through your "one man band" limited company,
any more than you can decide to be self employed.

If you turn up:

<BADGES>
1) Yourself...
2) ...at an arranged time...
3) ...to be paid monthly...
4) ...in equal tranches...
5) ...without risking your own capital
</BADGES>

...then you are an employee...

The OP may have said (1) & (3),
but didn't mention (2), (4) or (5).

Anyway, it's the *contract* that counts (you need to determine
whether the contract is one "of service" or one "for services").

Even if all your "badges" above applied, it may still not be
employment (or caught by IR35), for instance because the contract
might allow you to send along someone else instead of yourself....

Ir35 is optional in my view, people who pay at are too lazy/stupid to
get themselves outside it, it can be done using a contract reviewing
company who specialize in Ir35, also joining the PCG covers you for any
investigation and having company website/stationery etc. Only 3 PCG
members out of thousands have been found to be avoiding tax this way
and at most they pay is a percentage of the tax they never paid on that
contract.

.

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