Recent content by Argentum Tax

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    Corporation Tax invoice?

    Why not just pick up the phone and ask your accountant? Wouldn't that be the simplest and quickest?
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    Bank switch cash back.

    I think you might get a range of opinions here. I suspect there is no one correct answer. If there was some case law on the matter other accountants or tax advisers probably would have mentioned it already. See what others say.
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    Bank switch cash back.

    Surely, this would be a reduction in the cost of goods bought, wouldn't it?
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    Trivial benefits

    So far as I am aware, it is not an 'Allowance'. The money is spent by the employer on something which may, or may not, qualify as a 'trivial benefit'. If it qualifies as such there is a maximum amount of £300 per tax year per person which can qualify. If it does not qualify then it should be...
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    Limited Company V Sole Trader

    The OP would have an issue if they are making zero rated supplies. Zero rated supplies are included when calculating whether one has exceeded the VAT threshold. I do agree, though, that the OP should consult an experienced and qualified accountant or tax adviser without delay.
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    hired contact car for company no purchase option, tax?

    I agree with Baines Watson. What can seem to be a basic question will often be a lot more complex than it first appears, and simple yes/no replies can be misleading. Basic questions will often give rise to the need for supplementary questions in order to get a proper understanding of the...
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    British Business Bank Start Up Loan

    Why didn’t your company apply for the loan, rather than you personally?
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    Year end stock valuation issues

    I gave up on this thread last week; we were obviously getting nowhere. @Gyumri seems to enjoy disrupting any sensible attempt to help the original poster.
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    wondering if we actually NEED an accountant ...

    Well it depends on other factors too. Not entirely on how good is the accountant. For instance it depends, to a significant extent, on the amount of profits.
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    Year end stock valuation issues

    I think that’s possible. The OP did say at the outset that he wanted to “more fairly calculate our year end stock valuation.” The accountants here were trying to explain to the OP the correct way to value stock, in accordance with the law and relevant accounting standards, and how it has a...
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    Year end stock valuation issues

    Maybe, but we are talking about a company here, and cash basis cannot be used for Corporation Tax unfortunately.
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    Does the name on VAT invoice need to correspond with the VAT registration details held by HMRC?

    And are you still including VAT on the self billing invoice to the supplier? And then, presumably, your company is recovering that VAT as input tax? Having raised the question, you might want to check that the lady supplier is declaring the VAT on the self billing invoice that you issue as her...
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    Does the name on VAT invoice need to correspond with the VAT registration details held by HMRC?

    It shouldn’t really be a big issue where it is a supplier who is an individual. It is not serious if they omit the business name. However it is interesting why the individual has asked you to use only her name. Have you asked her why she doesn’t want you to use the business name? There might be...
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    Does the name on VAT invoice need to correspond with the VAT registration details held by HMRC?

    I guess the correct answer depends upon who the company contracted with for the supply. If the company contracted with the supplier in a business name then this should be used on the self billing invoices. If the contract was with the individual then the invoice would be in the name of the...
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    Year end stock valuation issues

    I admire your tenacity @UK Contractor Accountant. However I fear you won’t succeed in the face of such obstinacy. From my own experience some people just won’t listen to either common sense or technical argument, even when clearly explained. Very entertaining though!
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