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Author Topic: does an account have to know our full name?  (Read 1418 times)

Kay

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Re: does an account have to know our full name?
« Reply #15 on: 22 June 2019, 04:52:07 pm »
Isn’t that too expensive? I read online that it’s better to deal with an individual accountant as compared to a big firm bc firms have many costs such as office, employees etc... whereas with an accountant who works from home you are paying him directly so there’s no middle man.

They're not cheap, but they were recommended by the Tax Relief for Escorts site, and have always been very helpful and non-judgemental, including when I went in for an initial face-to-face meeting (which isn't de riguer…) Personally, I'd rather spend my money on a good accountant than shite like Botox, lip fillers or hair extensions!
"There is no sin except stupidity" - Oscar Wilde

English Green

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Re: does an account have to know our full name?
« Reply #16 on: 22 June 2019, 06:23:15 pm »
i dont drive. I don't know anyone here as i just moved to a new city, so i dont mind using a local accountant. I know that now it's gonna be slightly more difficult to rent a place and im gonna have to explain what i've been doing lately and i will say the truth, that i've been overseas for a long time and just came back. If they are not satisfied then i will just rent a room in a shared flat and do touring only. It's good to know that we can have an accountant legally as i thought that we had to lie to our accountant about what we do but it seems that most of you tell him what we do, so its easier as no need to make up stories, but i wouldn't wanna be listed as escort at the govt records, maybe masseuse, dancer or something else but escort. My only concern is if i ever stop using this accountant if he takes revenge for abandoning him and looks me up on facebook and contacts my friends telling them what i do. I would never want anybody in my private life to know what i do. Another thing is, as I'm about to start an online seller business here, completely unrelated to escort, so do i have to be listed under two things then or what??

I doubt an accountant would cause trouble just use a reputable one and just tell him what he needs to know. A dancer is way off from the truth and if you need to claim hotel costs not sure how that adds up with the job. Travelling Therapist alternate therapist/ masseuse is the best as you can give clients massage therapy loads do.

I think this is easiest option for you.

You will have a problem renting through official agency's though with no history so you might need to find a laid back landlord or rent a room til you find something suitable.

Mirror

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Re: does an account have to know our full name?
« Reply #17 on: 22 June 2019, 06:32:41 pm »
The accountant I use covers both my businesses,  one fee.
« Last Edit: 22 June 2019, 08:47:44 pm by Mirror »

mySecret

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Re: does an account have to know our full name?
« Reply #18 on: 22 June 2019, 07:29:45 pm »
i changed from a big firm o a cheaper one. The best choice ever. very handy for reference. you should say that you are working in a job that allow you to declare expense more in line with escorting. you do not need two, just one. you could byyourself as many do. I do not because it is not my job and it is not in my skills. everyone could with some effort. however i do not suggest it. i prefer to go to a professional. No one accountant do something bad agaist you if you change it. do not worry! they can help you if you rent/buy something. always good to have some reference. yes, it costs but it worth it. if you go abroad or you do other work maybe it is more complicated to do byyourself. you need to know which expense are allowed or not...
you should trust them as a business patner!

MsRedhead

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Re: does an account have to know our full name?
« Reply #19 on: 23 June 2019, 04:47:08 pm »
Your tax returns as a self employed person are private it's only public if you are a company.
But if you deal with banks or financial institutions they are entitled to see them.
If you deal with social security or benefits office they are entitled to see them too

.
This isn't true. All they need to see is your tax calculation. even if you are applying for a mortgage. They have no right nor reason to see your full tax return. x

MsRedhead

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Re: does an account have to know our full name?
« Reply #20 on: 23 June 2019, 04:48:50 pm »
Yes you would have to submit 2 separate self assessments forms.

no, you can do it under one form and they both count towards the VAT threshold

saltysweet

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Re: does an account have to know our full name?
« Reply #21 on: 23 June 2019, 07:05:44 pm »
OOps your right MS Redhead...I didn't mean that lol :). I explained that poorly and it's important to be precise with these subjects.
Only the tax calculation. Not the full tax return as you say.
« Last Edit: 23 June 2019, 07:10:35 pm by saltysweet »

DBLM

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Re: does an account have to know our full name?
« Reply #22 on: 25 June 2019, 01:19:58 pm »
Discreet Lady,
you will choose your accountant carefully and tell them the complete truth about all your life. That way they can do the best for you and save you money on your tax bill by making sure you have claimed all of your expenses - anything you bought to use just for your business is and expense. Advertising. Travel costs. etc.
What you call it. Well I've never wanted sex worker on my records either.
Masseuse, holistic therapist, counsellor, trainer, life couch, dancer, trainer. This are all broadly possible and you can match up your expenses , travel and advertising costs to these business names.
The thing is in the future you apply for a mortgage, or a loan, or just to rent they will ask for your accountants info and they will phoe him or her to ask to confirm your income and what you do. So she/ he needs and answer - a job title.
Over the years ahead this is very useful. I have been with my accountant for 20 years and that alone carries some credit when you are applying for things.

You said you are running another business too. It will be the same accountant. They will put together your income and costs for both businesses separately and come up with your profit figure for both businesses. But then they get submitted on the same self assessment form.
If you are doing well they will advise you about when  you should consider setting up a limited company (for tax purposes) and they will also advise you on VAT if you start to take so much money you are near that threshold.

You never want to be taking £80,000 per year from escort clients, because you do not want to be registered for VAT in this business, IMO.

V24

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Re: does an account have to know our full name?
« Reply #23 on: 25 June 2019, 06:05:35 pm »
no, you can do it under one form and they both count towards the VAT threshold

But would need to be a separate page for each 'self employment'.