FREE UK Tax Advice|Ask Tax Advisor NOW

UK Taxation Forum is one of the leading free UK tax advice forum in the UK providing Free Tax Advice UK, Tips and Advice Tax, UK Tax Help, UK Tax Return Tips, Tax in the UK, Tips and Tax, Expat Tax, Money Saving Expert Tax Tips etc

Forum for providing legal and practical advice on VAT problems & EU law
by william12 Tue May 31, 2016 3:09 pm
Dear Anyone,

Please can you help.

I am in a position to provide 4 employees through a limited company to a UK based company. They will be working as maintenance/builders.
Their Basic wage will be circa £30,000 pa plus overtime.

So, I will be collecting £33,000 per employee £33,000 X 4 = 132,000
However we will be paying out £30,000 X 4 = £120,000

Profit £12,000.

My problem is that I have an hourly rate that the company is being paid, I have scope to make a couple of £ per hour, however if I have to charge 20% Vat, there is no profit?!
There are no overheads to claim VAT back. So how is this right???

Please can any one give me some advice.
by sash100 Wed Jun 01, 2016 6:00 pm
Hi William

I noticed you have posted a number of questions on this forum which is great. However, some of the questions are quite complex (plus would need more information) and you may end up paying more tax. Hence it would be better to sit down with an accountant to go through in detail.

Kind Regards

by william12 Thu Jun 02, 2016 10:01 am

If any you can help please send me contact details.

I'm rather stuck.

............. ...41

Users browsing this forum: No registered users and 1 guest