Recent content by freeflowinfo

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    Limited company rules and legality relating to share ownership and assets

    no
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    Limited company rules and legality relating to share ownership and assets

    Sorry, this was just a crude example of being short in wording as I hate typing,lol. To be clear, a Company gets formed with £15000 as an example only paid in by the director or shareholder as a start-up capital, the over a time more money will be added, then a pice of land gets bought costing...
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    Limited company rules and legality relating to share ownership and assets

    The initial start-up capital of a limited company, how does that get taxed? Or is that tax-exempt? Also if there are 2 shareholders in a limited company with 1 share each, if the company wants to sell land, would both of the shareholders have to agree, and can you make it through the articles...
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    How to account for materials used

    Just spreadsheet
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    How to account for materials used

    Hi as an handyman if you buy paint, wallpaper or say copper piping to do a job and you buy it specifically for that one job and not to keep it as a stock, you then get paid for the labour and for the cost of that material, where do you put the material expense so it does not go against your...
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    Self-assessment date

    Thank you that confirms what i thought,i only put down July so people knew it was not before April.
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    Self-assessment date

    So in my case July 2023 is the tax year you are talking about
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    Self-assessment date

    Hi if a sole trader started in July 2023 as a very small business when does he have to submit his accounts first time to the inland revenue as self self-assessment? January 2024 or 2025?
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    Scrap car then salvage accounting

    Hi, it is a sole trader, the car at the moment is scrap and not usable so no capital allowance has been claimed, it is possibly going to be repaired to be sold for profit, but at the moment only scrap is being bought.
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    Scrap car then salvage accounting

    We is a figure of speech and not important, I thought the same but as it is a first scrap the possibility of becoming a car I was not sure, in the end, the profit will be the scrap price cost, then the sale price minus all the expenses to put it back to original state as a car.
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    Scrap car then salvage accounting

    Hi, i got a strange one re how to deal with where to account for a car. If we buy a scrap car for scrap and then decide to salvage it instead, repair it and then put it up for sale, how and where would I put it in the books?
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