Recent content by Mike Conroy

  1. M

    for the accountants on here...

    This has been going on for a while now just look at PPH the amount of unqualified accountants advertising for their work to be signed off. I personally do not take on that type of work luckily all the major high street banks accept references etc from my professional body. however, people...
  2. M

    Incorporation Fees - What account to post to?

    capital is correct as per HMRC guidelines that is what the op wanted to know
  3. M

    Incorporation Fees - What account to post to?

    They are capital items and should be traeted as such.
  4. M

    Incorporation Fees - What account to post to?

    here is what you do with incorporation fees if you would like to take a read http://www.hmrc.gov.uk/manuals/bimmanual/bim46435.htm
  5. M

    Incorporation Fees - What account to post to?

    strictly speaking it is a capital item however, for £15 i would put it under legal and professional fees.
  6. M

    Urgent, Please help. Limited company to change to sole trader/partnership good or bad?

    The bottom line is you will be taxed on your profits if you are a sole trader.
  7. M

    Urgent, Please help. Limited company to change to sole trader/partnership good or bad?

    you can show thee £10,000 as a directors loan for the products you buy. you can then take this back at anytime without any tax problems. you would then pay 20% corporation tax on any profits the company makes and as suggested take your profit share as a dividend payment. .
  8. M

    FreeAgent: “no stock control functions’?

    A number of business solutions will suit your needs and you can automate pretty much evreything it all depends on how much you value your time. I would suggest that you employ an accountant it will save you time and money and in the long run you will save more than you pay your accountant.
  9. M

    ltd company strategic partnership

    agree with kevin if i were you take 51% of the business and speak to your currebt accountant for advice.
  10. M

    Clearbooks vs Quickbooks Online?

    yes but it is very basic compared to what say xero or kashflow can offer as a all round business solution. if you just want a accounting system then clear books is a good option it depends what you are looking for a fully automated business solution or just accounting for e.g if you were a...
  11. M

    Clearbooks vs Quickbooks Online?

    well the answer to your question is neither. the reason for this they are not purpose built cloud packages and cannot offer the savings to business as other packages on the market. they are just not in the same league as the new purpouse built cloud packages
  12. M

    Clearbooks vs Quickbooks Online?

    I think sage and quickbooks have had their day and quite right too. cloud based software of any kind is the way to go for any busineess in this day and age.
  13. M

    Building materials - Expense?

    a shed is for storage that is fine for capital allowances. however, a workshop is a a different matter as you work from it a little like a factory. the op in his post has said the structure is a workshop.
  14. M

    Paye- paying lump sum to employee

    The answer to the OPs question is no it would not be ok as he has clearly said it is a salary payment.
  15. M

    Building materials - Expense?

    you have created an assett so as suggested you can put it under buildings, however, becareful of recording it as a shed or barn this could be asking for trouble.
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