KATA
Mar 14th 2020, 5:33 pm
#1
BE Enthusiast
Thread Starter
Joined: Nov 2010
Posts: 878
KATA
Yes, it's a lovely name but I am looking for people's thoughts on the KATA 'self-employed' tax.
I have read a few differing opinions on the tax - some say it is simple from an admin perspective whereas others say that once you earn more than a specific amount from the same source - you are treated as employed and there are all sorts of shenanigans, extra taxes and potential fines.
Would love to hear your experiences - good/bad etc.
Many thanks in advance for any help.
I have read a few differing opinions on the tax - some say it is simple from an admin perspective whereas others say that once you earn more than a specific amount from the same source - you are treated as employed and there are all sorts of shenanigans, extra taxes and potential fines.
Would love to hear your experiences - good/bad etc.
Many thanks in advance for any help.
Mar 17th 2020, 8:18 am
#2
Forum Regular
Joined: Jan 2019
Posts: 34
Re: KATA
Hello again,
It depends on your situaton - for some it works better than for others. The thresholds are on turnover, not profit, which is a key difference between KATA and being self employed in the UK for example with a personal (income tax) allowance.
So far, it's working fine for me. I have an accountant who I would recommend - Fairconto - who speaks English.
It depends on your situaton - for some it works better than for others. The thresholds are on turnover, not profit, which is a key difference between KATA and being self employed in the UK for example with a personal (income tax) allowance.
So far, it's working fine for me. I have an accountant who I would recommend - Fairconto - who speaks English.
Mar 17th 2020, 11:35 am
#3
BE Enthusiast
Thread Starter
Joined: Nov 2010
Posts: 878
Re: KATA
Hello again,
It depends on your situaton - for some it works better than for others. The thresholds are on turnover, not profit, which is a key difference between KATA and being self employed in the UK for example with a personal (income tax) allowance.
So far, it's working fine for me. I have an accountant who I would recommend - Fairconto - who speaks English.
It depends on your situaton - for some it works better than for others. The thresholds are on turnover, not profit, which is a key difference between KATA and being self employed in the UK for example with a personal (income tax) allowance.
So far, it's working fine for me. I have an accountant who I would recommend - Fairconto - who speaks English.
Thank you so much. Glad to hear it is working out for you. Is there anyone in particular you recommend I speak to at Fairconto?
Mar 17th 2020, 12:12 pm
#4
BE Forum Addict
Joined: Dec 2009
Posts: 2,772
Re: KATA
Noting the title 'KATA' I clicked to read more thinking ..... is this to do with Shotokan Karate? 'KATA' under 'Shotokan Karate' means a pre-arranged sequence of movements to defend yourself against an attacker and also strike back to disable your attacker!
Mar 17th 2020, 7:20 pm
#5
BE Enthusiast
Joined: Jun 2011
Location: North East Hungary......for now
Posts: 646
Re: KATA
My wife and I have been in the KATA system for several years. We do very little apart from write receipts/invoices and drop them off with our bookkeeper who charges us 7,000ft each per month. She also advises us of any payments that need to be made. Each summer she takes us out of the system when we have no income so the only contribution we have to make is around 7,000ft per month towards our basic health contributions.
Mar 19th 2020, 10:19 am
#6
BE Enthusiast
Thread Starter
Joined: Nov 2010
Posts: 878
Re: KATA
My wife and I have been in the KATA system for several years. We do very little apart from write receipts/invoices and drop them off with our bookkeeper who charges us 7,000ft each per month. She also advises us of any payments that need to be made. Each summer she takes us out of the system when we have no income so the only contribution we have to make is around 7,000ft per month towards our basic health contributions.
Mar 19th 2020, 10:21 am
#7
BE Enthusiast
Thread Starter
Joined: Nov 2010
Posts: 878
Re: KATA
:-) Navigating tax systems can be like a kickabout in a dojo!
Mar 26th 2020, 4:33 pm
#8
Forum Regular
Joined: Jan 2019
Posts: 34
Re: KATA
Sorry for the delay -
Fairconto - my accountant is Ruzsin Zsolt
He costs 50,000 a year and is always available by email to answer my questions - well worth it. I couldn't register myself as self employed due to no TAJ szam but he knew a good work around.
Fairconto - my accountant is Ruzsin Zsolt
He costs 50,000 a year and is always available by email to answer my questions - well worth it. I couldn't register myself as self employed due to no TAJ szam but he knew a good work around.
Apr 30th 2020, 9:29 am
#9
BE Enthusiast
Thread Starter
Joined: Nov 2010
Posts: 878
Re: KATA
Thank you so much. I have spoken with Zsolt and he is very helpful.
