Recent content by QuickRebates

  1. QuickRebates

    Internet Radio / Music

    Hey chaps, Always, each and every day I listen to a good twelve hours of music, mostly Internet radio. What's your source of music, and how do you Tune In?
  2. QuickRebates

    Personal guarantees and credit file

    They would most likely carry out a hard credit check, whether they leave an entry on your credit file would probably change from company to company. I would imagine they would at least carry out a soft search. Also, mortgage lenders have different policies to how they view your credit profile...
  3. QuickRebates

    How much can a self employed accountant earn?

    Just a little bit of fun ;) Being serious, for a sole practitioner with no staff, £50k - £100k should be achievable depending on the clients you have and how efficient your processes are. As you grow, you will find you are going to rely more on sound systems that will allow you to get the most...
  4. QuickRebates

    How much can a self employed accountant earn?

  5. QuickRebates

    Who is liable for the Corporate Tax liability when purchasing a company

    @Mfstd - the original company. But when you say you've acquired another company, did you buy the shares of that company, or simply the assets and contracts etc? Please PM if you want to divulge more private information
  6. QuickRebates

    Who is liable for the Corporate Tax liability when purchasing a company

    No one takes on the liability, it always remains with the company. At no point can the liability be transferred. HMRC will always chase the company for the debt regardless of what party is otherwise contracted to pay the balance.
  7. QuickRebates

    Who is liable for the Corporate Tax liability when purchasing a company

    Hi, welcome to UK Business Forums, The company is always liable for Corporation Tax, never the directors or shareholders regardless of who owned the company. It's just simply a company liability. I hope this helps, but I feel it's not the advice you were hoping for.
  8. QuickRebates

    Carrying an income tax loss forward

    Hi David, Losses from property rental income are carried forward by default and offset against future property rental income as and when they arise. Unfortunately you don't have the capability of skipping a year. Possibly, you might be able to offset some of the losses against other income...
  9. QuickRebates

    In a panic - Company has no funds to file accounts

    ^ Implied. The directors have a fiduciary duty to maintain the companies records, but no mention yet has been made of financial activity, specifically whether OP owes money to the company, in which case the company could then possibly have assets to liquidate in order that it can fulfil its...
  10. QuickRebates

    In a panic - Company has no funds to file accounts

    The obligation lies with the directors to maintain the company's records and to ensure that returns are up to date. Can you explain a little more about the trading activity? Was there ever a profit? Did you borrow or take any money out of the company yourself during that time?
  11. QuickRebates

    In a panic - Company has no funds to file accounts

    The OP has an obligation to report profits earned through the period.
  12. QuickRebates

    In a panic - Company has no funds to file accounts

    Hello, I am first making the assumption that you are the sole shareholder / director. If so, you cannot quit as a director leaving the company with no directors behind. Regardlesss of that, if the company has traded, annual accounts and Corporation Tax returns must be submitted to HMRC and...
  13. QuickRebates

    How long before a company closes after filing.

    Hey, The best thing to do is simply give them a call tomorrow when their office opens. They are usually quite efficient on the phone. Still, I would have expected this form to have been received and processed by now...
  14. QuickRebates

    I’m new to Sole trading and a bit confused with Income Tax rates.

    Hi, It's the excess of income over £45,000 that is Taxed at 40%. For example, if the Taxable income was £46,000 then £11,501 to £45,000 would be Taxed at 20% and £45,000 - £46,000 (just £1,000) would be Taxed at 40%. Good luck with your ventures :)
  15. QuickRebates

    capital allowances

    You will have a balancing charge of £1,050 to add to your self employed profits.
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