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Intercompany loans

O
UKFOOD said:
1/ let IT limited loan Property Ltd money for deposit. Would I need a loan agreement? If IT limited has to keep on doing this as and when cash is generated in IT limited - can it keep loaning and perhaps not get repaid back as the deposit money will be quite large than the surplus (rental income less interest costs) being generated in the property limited? Would it have any tax implications I should be aware of? I will be the only shareholder of both companies.
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As a Director of Company 1 you have a legal obligation to do what is right for the company. Giving it's money (loan but not repay) to another company would breach those legal obligations. You would have to loan it and charge a market rate of interest and/or get it repaid to meet your obligations. - Obviously with no other shareholders/directors to complain/sue you it is unlikely that you would end up in trouble, though the tax man might start to wonder where all the money is going to.
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Electronic signature solution for legal documents

O
Nico Albrecht said:
They are actually not environmental friendly at all, similar discussing we had on here paperless offices. The actual energy requirements for digital data in general is much higher.
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Good point. The energy/resource cost of creating paper is a one time charge. After that it just sits in a file cabinet. Computer servers burn power constantly for years.
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Commodity Codes for formulations that are Trade Secrets

R
I recently had an issue whereby we ordered stocks from a company in USA using two different locations and each location applied a different commodity code to the goods.

One applied a toy commodity code

The other applied a cosmetic commodity code

We believe the toy commodity code was most appropriate but we then found a code which seemed more accurate than both.

Truth is this product is a bit of a headache as in USA they class it as a cosmetic but here in EU it is regarded as a borderline product whereby it is determined by it's function. Customs were very concerned to begin but agreed the item was a toy and could bare the CE Mark.
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Question about dormant accounts.

MyAccountantOnline
Izverg said:
...
I have a Limited company witch never traded. I've filed dormant accounts to CH last year and this year also i've sent a letter to HMRC that ltd is dormant last year. Do i need to send similar letter this year?
...
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No not unless you've received a tax return for the company. You only need to tell HMRC when the company becomes active.

Izverg said:
... I've earlier registered for corporate tax, but seems like i've lost and couldn't recover my account in HMRC. Won't be this a problem?
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No it shouldnt be. This link should help - https://www.gov.uk/log-in-register-hmrc-online-services/problems-signing-in
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Questionnaire - master's thesis

AllUpHere
Mr D said:
The less said about some professors the better...
Professor of practice in International Political Economy at City University London for example, who disagrees with pretty much everyone. Especially his students who have studied the subject. :)
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I had a lecturer (whilst studying for Chartered Institute of Marketing qualifications) who had no marketing qualifications, and no experience in marketing, business or any related field. She'd never stepped outside of academia, and was simply a professional teacher who'd read the syllabus.

I taught her more than she taught me.
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Interactive staff training video... what do you think?

C
JoLee said:
Hi everyone,

I am looking to stat an interactive video production business, and the business will specialise in producing staff training video for retail (e.g. sales assistants) etc. It aims to help new staff to start off at their position. While watching you can make choices on screen and you will learn from it.

What do you guys think about this video? Any feedback will be greatly appreciated!

Thanks.
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Do a search for H5P I think you will find it interesting.
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Cost or Sales?

LiveNetworks Ltd
Yup, cost of sale and at the end of the year you'll make an allowance for your closing stock of letters, stickers, envelopes to show the 'true' cost of the products you've sold and how much stock you've got available to sell in the next year.

If for instance every £1 letter costs you 50p and you've sold 1000 letters and spent £1000 on paper/stickers etc, if you class the costs as expenses, you've got £1000 sales, less £1000 expenses and no profit. If you do it correctly, you've got £1000 sales, £500 cost of sales, £500 stock to sell next year and £500 profit.
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Full Repairing And Insuring Lease For Shared Building.

WaveJumper
Second Place said:
I’ve got no reason to believe there is asbestos in the building (I also have no reason to believe there is none). Having worked in a building where previous “immobile” asbestos boards were found to be breaking down and the company being quoted between 1 to 2 million pounds to have it fully removed I’m a bit paranoid about asbestos.



I got the “full repairing and insuring” lease changed to an “internal repairing and insuring” lease however because of this the landlord did not want to limit my liability. However, by the looks of it there is no personal guarantee so worst case scenario I lose the company but can’t be touched myself. Next step is getting the lease looked over by a solicitor.
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Yes don't blame you for being paranoid about the subject, when in the past dealing with retail units other than the usual places, ie ceiling tiles, pipe gaskets and fire insulation the most common place we always came across issues with were floor tiles. Its good you getting the lease looked over best of luck
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Box2/VAT due in this period on acquisitions from other EC Member States

Scalloway
Abe2019 said:
Thanks, so if this was handled through an Invoice rather than an Expense, then (1) would the hotel indicate that no VAT was charged and that "It is instead subject to a reverse charge under the EC VAT rules.", and (2) I would then place 20% of 3182DKK (converted to GBP on the invoice date) into Box2 on my return?
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No. The service was provided in Denmark so you need to ask the Danish VAT authority for a refund.

https://www.gov.uk/guidance/vat-ref...-from-other-eu-countries#what-can-be-refunded

From this it would appear you can reclaim the VAT.

https://www.visitdenmark.com/denmar...at-exemption-your-next-business-event-denmark
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Advice on how to deal with a customer who is threatening a chargeback?

paulears
You really need to have a think about how you would react in these circumstance. If I go to a UK website and see something I want, then if I see how much it is, and click to buy and pay. I expect it delivered to my address. I don't expect to get a bill for import duty and VAT. If this is is likely to happen because the goods are being drop shipped from China or the US, then you MUST for ethical reasons tell them. You can hide your refund policy or make it positive - Those, statements that say "We're sure you will like this item, but in the event you change your mind within X days, please return it to us for a full refund (excluding return postage)" That sounds good. Drop shipping is fraught with grief in these areas, so you should really have seen this coming.

PO Boxes are big turn-offs for so many reasons. If your t's and c's mention returns then how come you tried to hide your address - which needs to be on your web site for legal reasons anyway.
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Taking a deposit for "FREE" services

UKSBD
If I had choice between;

100 business cards in a default colour and font.

100 Business cards where I could choose my font and colour for FREE.

I know what I would go for

Likewise, if I was having a van sign written and one company offered to do a free mock up 1st I think I would be swayed towards them.

How you then word the terms of the free mock up is another thing.
ie. they only get a free mock-up after signing the contract.
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