Recent content by Grayson Moore

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    How much should I be paying for a high end accountant?

    As we don't know a huge amount about the nature of the business other than its some form of brokerage can we be sure the 8 fig expected turnover would be the actual turnover for accounting purposes or would this be just the commission/profit margin 7 fig element? This would change things as...
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    Corporation Tax filing headache

    If the accountant had submitted it online he will have the HMRC receipt acknowledging the submission. Are you sure he has actually submitted it in the first place? Electronic submission has been in place for over 2 years now so I'd be surprised if it was a paper submission.
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    related party disclosures or transactions with directors

    I'm with Sam on this one all 3 transactions, where material, should be disclosed in the full accounts under the FRSSE/FRS 8 and none would be required in the abbreviated as these don't meet the s412/s413 CA06 criteria. The dividends have been disclosable seperately since the option came in not...
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    Buying a private residence via Ltd company

    Theres are a number of issues here. Is this intended to be a rental investment property or your own principal residence? On the face of it this leads to tax leakage in a number of areas including. 1. Stamp duty on the sale to the company, 2. Any rental income paid to the company will be...
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    Process to form a limited company.

    Jonathan, Once you have formed the companym either with Companies House directly or via an agent, HMRC should issue a form CT41G for you to complete which will state the company tax reference. The form will ask a series of questions such as when you intend to start trading, what the year end...
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    Director dispute

    Do not resign as a director without first taking proper advice both from a legal position and from a tax standpoint. You may inadvertantly have an impact on any entitlement to any entrepreneurs relief.
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    Association Rules

    If you are making profits at levels at which the associated rules are having an impact then you should be getting planning advice from your accountant rather than a general forum. If your accountant is not delivering this then I respectfully suggest that you would be better off with a new...
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    Bank account to prevent double Invoice Finance liability

    There must be some misunderstanding here or I'm missing something. I can understand them wanting to be able to clawback the advances when the debtor pays but if you can't access the account how on earth do you ever get your hands on the funds? Are you looking at full factoring or invoice...
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    Becoming an Accountant

    With those levels of grades an option to look at may be the school leavers programme which KPMG (and possibly some of the other Big 4 firms) are now offering whereby you effectively enter into a 6 year apprenticeship. They then fund you through a university degree and you come out with a...
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    Accounts for Working Mens Club

    CCH produce an Industry Guide for Clubs and Associations which you may or may not get some mileage from. This does include (from memory) specific work programmes (if needed). Watch for those covered by the Industrial and Provident Society rules as you will need to be a Statutory Auditor just...
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    Directors Salary

    You are already taking the most important step by taking formal legal advice. As oldeagleeye states don't allow yourself to be bullied out. You ex partner may be hoping he'll be able to push you into agreeing a bargain price for your shareholding. Stand your ground and go for a fair price...
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    Any registered auditors out there?

    Any I& P Society or Friendly Society with aggregate receipts and payments <£5k, assets <£5k and <500 members is an exempt society with automatic audit exemption. For I&P Societies above this limit, audit exemption is not automatic but requires the passing of a resolution. Audit exemption is...
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    Any registered auditors out there?

    I must admit when I quickly read the first couple of post I thought the OP was referring to an audit however I suspect the entity actually needs an accountants report rather than an audit report but because of the Industrial and Provident Society registration the accountants report is still...
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    Is my accountant right that wage and dividend can not be paid?

    Based on what's been said here and the O/P's earlier posts in December it looks to me like we have a company with possibly a March y/e and the directors have left everything, including operating any payroll, until January when they have managed to find an accountant to take on the accounts and...
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