Recent content by mbsc

  1. M

    property improvement

    hi i have the following scenario; I did some improvement of couple of my properties which i let out,I did rewire one of the house ,replaced the kitchen and boiler and i had them revalued for my accounts,could you advise how to account for ths improvement because I think they are already...
  2. M

    register for paye when receiving pension

    Hi Elaine, Thank you for your advice, looking at the allowances in 2011/12 the person has got PA 9940 (because it will turn 65) however if he is a director for a limited company and his pension is 6500 then there are allowances of 3440 not used if the drawings are accounted as dividends ...
  3. M

    register for paye when receiving pension

    Hi there,could you advise on the follwong scenario , Does a director need to register his limited company for paye scheme if he receives a pension as income plus salary taken out of his ltd company (age 65),what are the rules in this scenario? thank you
  4. M

    director's salary at LEL

    Hi ,There I have a limited company and would like to use up my personal allowance as wages so I will be paying at tax free threshold through the year.I am aware I need to register my company as employer and run a payroll because I am meeting the LEL level , How often do I need to run the...
  5. M

    NIC class 4 class 2 and class 1

    Hi there, I have the following question if the individual is self employed and employed and earn let say 20000 from employment, pays class 1 NIC through payroll and the profit form the self employment is 10000, Is it still liable for NIC class 2 if he/she pays already class 1 through...
  6. M

    quickbook -members entry

    Hi there,I am struggling to understand Quickbook software.in the TB shows creditor under nominal members equity, however it is first year accounts and it is not definitely reserves, which is shown in the balance sheet ,How can I reverse it and what double entry shell I use to balance the books...
  7. M

    company pay's directors pension to proivide pension funds

    Hi David, The company has made the contribution on behalf of the director(100 % shareholder)as an employer.
  8. M

    company pay's directors pension to proivide pension funds

    Hi could you advise me on the following scenario ,the company(ltd) has 18 months accounting period and the director pays amount to private pension plan just 1 month before the end of the accounting year.Would that be accounted as director's remuneration and charged to P&L? and the corp tax...
  9. M

    tax on director's loan

    Hi ,there,Could you please advise me on the following scenario , lets say if my directors loan is 100 000 in debit and not repaid in the next nine months and the company need to pay 25% tax on the borrowed amount and it is added to corp tax 25 k but it is not debited from the company P&L...
  10. M

    director's minimum wage

    Hi ,I would like to double check when to register as an employer .In hmrc says that if I pay to a director 442 pounds per month I do not need to register as employer and maintain any records, however if I pay to a Director (myself) 560 for 2011 then I need to keep records,Does it mean just...
  11. M

    Maximum % dividends payout

    What is the maximum % dividend which could be paid out of profit after tax and reserves?
  12. M

    small company valuation procedures info,learning materials

    Thanks Anna,Could you recommend any literature,books about small company valuation or course ,this is one area I am not limited with and would like to learn more? thanks
  13. M

    small company valuation procedures info,learning materials

    Hi , I am interested in learning how to evaluate small soletrading,partnership businesses so I could estimate goodwill when the company status change to Limited company. Could you advise me any studing materials internet websites. My friend is now changing the company (plumbing and heating...
  14. M

    Interim dividend exceed net profit adjustment

    Thank you , You were very helpful :)
  15. M

    Interim dividend exceed net profit adjustment

    Hi there, I need an advice, I have the following scenario: The company is small limited with one director, drawing min wage and interim dividends ,however when the final accounts are done and the tax provision plus usage of office and cost for professional fees are accrued dare accrued the...
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