Recent content by finest123

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    Borrowing Money to your Ltd Company

    Would the tax be reclaimable? If the interest paid is under £6,000
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    Borrowing Money to your Ltd Company

    It would be a director of a company lending the company money. Would a CT61 need to be filled in every quarter? @UK Contractor Accountant
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    Borrowing Money to your Ltd Company

    so it would be ok to claim up to 6000 tax free interest on this kind of arrangement?
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    Borrowing Money to your Ltd Company

    Hi All I was watching a video from an accountant who seems to think that you can borrow your company money and provided your personal income is under the tax threshold then you can take advantage of getting an additional 5,000 Tax Free interest allowance. Which I already knew about if its...
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    VAT Threshold

    Yes, an accountant for over 40 years. He is an employee of the company, a very nice man and I had total trust in him until this. I can only think his age is catching up with him. I will be contacting you and the accountants here for a chat.
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    VAT Threshold

    He spoke to my friend on the phone to explain he did not need to register when he kept questioning it. so no way there was a work experience in
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    VAT Threshold

    Never had any other issues with him or known issues. Just concerned he has now been doing something wrong with my company account submissions and I've missed it
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    VAT Threshold

    within an hour of my e-mail to him, explaining the situation as clearly as possible, He emailed my friend to say he does need to be VAT registered for 1st December and he thought the company had started trading in Aug 2021, and not Jan 2022. This makes no difference because its the last 12...
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    VAT Threshold

    yes he has already and his reply is because of the company accounting period which is not correct as we know. its 12 months rolling. I just wanted to check I was not missing some special rule or something. I think its best I talk to him directly about this and see his reply because I have lost...
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    VAT Threshold

    exactly and I have seen all the emails with him quoting the figures and showing the exact turnover for the last 10 months. Each time he just goes back to say that he needs only to start counting his turnover from Sept 2022 and not to look back any further. I really would not believe my friend if...
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    VAT Threshold

    He has questioned him three times and pointed to the HMRC website all by e mail. His written reply is you need to go from September 2022 and he will check the turnover each month. Everything I have said above is all the details
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    VAT Threshold

    I believe this has changed a long time ago. Its madness
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    VAT Threshold

    Thank you for confirming I am right. If he did not show me the e mails I would have never believed him that my accountant would tell him this. I'll be looking for a new accountant and suggest he does the same. thanks again
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    VAT Threshold

    exactly at the end of October 2022 he went over. so has 30 days to register as I read it HMRC website "You must register if, by the end of any month, your total VAT taxable turnover for the last 12 months was over £85,000. You have to register within 30 days of the end of the month when you...
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    VAT Threshold

    My friend has had some advice from the same accountant I have used for over 10 years regarding VAT threshold. I am 99.9% sure this is a stupid question but since its coming from my accountant to him I wanted to double-check. Here is the full story in case something makes a difference. He...
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