Moving to monthly VAT returns - AccountingWEB
Jul 30, 2020 · we have several small traders who are payment cases and file monthly returns, purely for cashflow and getting the payments out of the way, they dont trust themselves to hang on to the money for a quarter and would rather pay actual amounts than POA's.
Loan to company written off - Corp tax treatment - AccountingWEB
Aug 16, 2021 · Thank you everyone for your thoughts. After further research I think writing the loan off will definitely be taxable on the company and the director/shareholder will probably not be able to claim any personal tax relief as the company is still trading and the loan is not irrecoverable - I think HMRC would be able to argue/show this quite easily.
The final accounts when closing a company | AccountingWEB
Mar 22, 2018 · Jumping in on this. If a company has applied for strike off with CH, but still has outstanding accounts, due by end of April, to file for previous year (no trading was carried out, just took a while for them to get round to applying for strike off) would accounts need to be prepared and submitted as normal and then further cessation accounts for HMRC once strike off happens?
Can accountant fees for tax return be treated as an
Feb 6, 2014 · Fees for preparing rental accounts allowable The fees for preparing rental accounts are a deductible expense for the rental business. They would go in box 27 (as other professional fees) on the property pages.
Moneysoft - AccountingWEB
Payroll Manager is a comprehensive, easy to use, HMRC recognised for 2019-20 RTI compliant payroll software package used by thousands of SME’s, agents, accountants and CIS Contractors across the UK. In the first 6 months of the tax year 2018-19, more than 1.5 million RTI submissions were successfully filed through our software.Features to support …
Exempt and Outside the scope of VAT differences
May 9, 2010 · Out of Scope or Exempt Out of scope - nothing to do with VAT at all (eg. payroll transactions, internal bookkeeping journals etc...) Exempt supply - means that businesses supplying exempt goods/services cannot claim back the …
FRS 102 and goodwill amortisation - AccountingWEB
Jun 16, 2014 · With a reduction in the presumed life of goodwill from 20 to five years under the new reporting standard FRS 102, many accountants are concerned about how goodwill is to be written off.
HMRC’s agent code request sparks confusion | AccountingWEB
Oct 11, 2024 · Previously, agents had until 8 November to provide details. However, HMRC’s original request was beset by confusion after the email led some agents - including many readers on Any Answers - questioning whether it was a genuine email.
FRS 102: The new lease accounting treatments | AccountingWEB
Aug 13, 2024 · On-balance sheet lease accounting. The FRC has aligned FRS 102, Section 20 Leases to IFRS® 16 Leases, albeit with additional simplifications and practical expedients to allow the new treatments to be proportionate to private entities.. Under the new recognition and measurement principles, a lessee will no longer distinguish between a finance lease and an operating lease.
Evidence now needed to claim employment expenses
Oct 11, 2024 · From 14 October, anybody wanting to claim employment expenses will need to use a paper P87 form and provide supporting evidence to prove their eligibility.. HMRC is tightening the process and adopting a “check first, pay layer” approach after reporting that the current way of working has resulted in many ineligible claims for employment expenses.