Recent content by Numerix Accountancy

  1. Numerix Accountancy

    Office equipment posting

    I would categorise it as Equipment expensed. There is no numerical value in the definition of an asset, so you need to form your own view while complying with relevant accounting standards. Freeagent suggest > £500 whereas numerous Accountants advise on capitalising only on values > £1,000...
  2. Numerix Accountancy

    Dormant company and sole trader?

    Yes sole trader income > than £1,000 is a trigger for declaring under self assessment. Thus less than £1,000 will not reuire a tax return. But please bear in mind there may be other reasons Eg significant dividends Capital gains Investment income etc Thus worth speaking to an Accountant Regards
  3. Numerix Accountancy

    Bounce back loan

    BBL Loans HSBC - Most of my clients who applied via HSBC have complained. I have 3 Limited Company clients who submitted applications 1 month ago - No response yet, even after 2 interim calls to escalate it. Tide - equally inefficient as HSBC Lloyds - Generally positive feedback from my...
  4. Numerix Accountancy

    Registering a ltd company

    You will also need to think up of a name for the Limited Company, prior to form submission. - Worth considering whether the formal 'limited company' name needs to fit into your branding/trading name - Appreciate that the admin burden compared to being a sole trader is far more onerous -...
  5. Numerix Accountancy

    Micro Entity Balance Sheet

    Hi All, On closer inspection, there appears to be a number of indicators pointing towards active trading status. Apologies - I placed too much emphasis on the opening paragraph "hasn't made much money", "probably isn't worth continuing with", "cannot afford to pay someone for help, as is...
  6. Numerix Accountancy

    What to look out for in a new business bank account?

    Hi, Most of the high street banks will offer 12 months to 18 months free Banking. Worth looking at the monthly charge after this period. I think at the moment HSBC Business Banking works out best, if all your payments in and out are electronic. In terms of the free ones, other than Tide, have...
  7. Numerix Accountancy

    Micro Entity Balance Sheet

    Hi Andy, You will probably have to factor in Share Capital under Equities as well. Goes in as a negative. Looks like these are dormant accounts - thus Accountancy fees will be significantly reduced if you want an accountant to do it for you. Feel free to get in touch directly. Regards
  8. Numerix Accountancy

    Sole Trader or Limited Company for catering business?

    Hi, Aside from the liability / risk protection aspect. There may possibly be other advantages to running a Limited Company rather than a sole trader business. For instance, with a Limited Company there is scope to determine profit extraction for the individual business partners/shareholders...
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