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Author Topic: Tax - accountants, deductible expenses, general information  (Read 45358 times)

neutralC

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Re: Tax - accountants, deductible expenses, general information
« Reply #315 on: 08 August 2019, 04:19:34 pm »
Thank you!

Escortx

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Re: Tax - accountants, deductible expenses, general information
« Reply #316 on: 08 August 2019, 06:48:56 pm »
How do you save for a pension when self employed?

Kay

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Re: Tax - accountants, deductible expenses, general information
« Reply #317 on: 08 August 2019, 10:52:00 pm »
How do you save for a pension when self employed?

Easiest thing to do is set up a private pension, pay into it monthly?
"There is no sin except stupidity" - Oscar Wilde

neutralC

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Re: Tax - accountants, deductible expenses, general information
« Reply #318 on: 13 August 2019, 09:34:02 pm »
Easiest thing to do is set up a private pension, pay into it monthly?

Yep. I did it with NEST

Mirror

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Re: Tax - accountants, deductible expenses, general information
« Reply #319 on: 14 August 2019, 08:34:02 am »
How do you save for a pension when self employed?

Set up a government run stakeholder or whatever they are called these days, I started mine when I was in a workplace which didn't offer a pension. I have transferred over a very small occupational pension from previous employer, then carried on when I became self - employed.

amy

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Re: Tax - accountants, deductible expenses, general information
« Reply #320 on: 14 August 2019, 10:36:24 am »
Set up a government run stakeholder or whatever they are called these days, I started mine when I was in a workplace which didn't offer a pension. I have transferred over a very small occupational pension from previous employer, then carried on when I became self - employed.

That's what I did too. Mine goes out every month by standing order and I don't even notice it :).

Escortx

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Re: Tax - accountants, deductible expenses, general information
« Reply #321 on: 14 August 2019, 10:38:05 am »
It confusing also heard you can lose the pension if it’s invested.

MsRedhead

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Re: Tax - accountants, deductible expenses, general information
« Reply #322 on: 17 August 2019, 11:24:16 pm »
It confusing also heard you can lose the pension if it’s invested.

it's incredibly rare to lose an entire pension. The government has funds that pay out in case of fraud. NEST which is mentioned above is government backed and has had very good returns so far.

Larabella

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Re: Tax - accountants, deductible expenses, general information
« Reply #323 on: 23 August 2019, 09:31:02 am »
So I went to meet a man today from a directory that I am going to advertise on. We got on the point of tax and I kind of am worried as I’m not sure if my accountant is giving me the correct advice.

I am self employed as an alternative therapist and deposit my earnings in my personal savings account. I have been keeping a diary of the clients I have, how much I earn, as well as a spread sheet of my in-goings and out goings.

I had asked my accountant if I would need a business account if I was depositing up to £4000 per month and he had told me it is not necessary. The guy I met today seemed shocked that I didn’t have a business account? He said something about I do not have a legitimate business and no invoices from my clients so it is riskier for me. I was told a written diary of my clients is sufficient enough. I am guessing he meant to make a “fake” business for the business account and get someone to send me fake invoices. I’m really confused because if I did that my expenses would not match up??

Anyway what I am asking is it necessary to have a business account and is a diary sufficient? It is obvious I won’t have invoices from each booking I have, to say I have seen the person...

amy

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Re: Tax - accountants, deductible expenses, general information
« Reply #324 on: 23 August 2019, 09:42:35 am »
Merged.

There's a reason your accountant is an accountant and the other bloke is peddling prossie ads ::).

Leaving aside what your tax affairs have to do with the nosey bastard, you categorically do not need a business account. You can have one, and banks will try to convince you otherwise but you don't need one - I've never had one in seventeen years :)

In future I'd suggest a polite smile/nod and a 'well that's very interesting and I'll take that on board' or preferably a 'that's really none of your busines, is it?' before changing the subject.

Student Joy

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Re: Tax - accountants, deductible expenses, general information
« Reply #325 on: 27 August 2019, 04:49:56 am »
Hello Ladies, Can you please help me find:

1. Any genuine accountants out there for escorts?
When I google search, it gives me the details of Michael & Millie, who haven't responded to my email/contact form.

2. When you're dealing with HMRC, can you give yourself a work title that doesn't give away that you're an in Adult entertainment industry? For example, can you instead say that you are a "Research Assistant", "Project Assistant", or something discreet like that?

All your advice & suggestions will be greatly appreciated :)



amy

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Re: Tax - accountants, deductible expenses, general information
« Reply #326 on: 27 August 2019, 08:02:14 am »
Merged, since this has all been answered many times over and mostly in this thread :)

Why do you think you need a special type of accountant for a simple sole trader operation based on appointment fees? If you think about it, have you ever seen accountants advertising that they can only take on hairdressers?

Mirror

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Re: Tax - accountants, deductible expenses, general information
« Reply #327 on: 27 August 2019, 08:26:56 am »
Hello Ladies, Can you please help me find:

1. Any genuine accountants out there for escorts?
When I google search, it gives me the details of Michael & Millie, who haven't responded to my email/contact form.

2. When you're dealing with HMRC, can you give yourself a work title that doesn't give away that you're an in Adult entertainment industry? For example, can you instead say that you are a "Research Assistant", "Project Assistant", or something discreet like that?

All your advice & suggestions will be greatly appreciated :)

You can say whatever you like and employ any accountant, a specialist isn't required but they need to know what your trade is.

Student Joy

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Re: Tax - accountants, deductible expenses, general information
« Reply #328 on: 27 August 2019, 05:13:08 pm »
Just to be clear, you're saying the ACCOUNTANT needs to know that I am an Escort.
But the HMRC need not know that?

Any nice accountants that you recommend?

Thank you :)

Gypsy

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Re: Tax - accountants, deductible expenses, general information
« Reply #329 on: 27 August 2019, 11:21:18 pm »
Just to be clear, you're saying the ACCOUNTANT needs to know that I am an Escort.
But the HMRC need not know that?

Any nice accountants that you recommend?

Thank you :)

Yes, your accountant needs to know but HMRC don't. My accountant knows exactly what I do, but puts entertainer on my tax stuff.
These days there are no Prince Charmings. A girl just has to be her own hero