Recent content by Sean Tan

  1. Sean Tan

    After changing existing company name

    After changing a company's name, do we need to mention the old name in all company communications e.g. "New name" (Previously trading as "Old name") Company address I have seen some companies doing that.
  2. Sean Tan

    Filling accounts and CT600 using HMRC’s online service

    Thanks for the links. Can we still prepare the accounts in accordance with the provisions of FRS 102 Section 1A Small Entities? Or do we need to switch to FRS 105? My last financial year starts from 1 Feb 2016.
  3. Sean Tan

    Filling accounts and CT600 using HMRC’s online service

    Hi. I am wondering whether I will be able to file my accounts using HMRC’s online service. Everything looks alright, except for one question asked by them Do you need to report any of the following in your accounts? foreign currency transactions - where you are paid or pay someone in a...
  4. Sean Tan

    Home Office Expenses for Limited Company

    I see. Are these payments exempt from employer NI, and personal income tax? Must they be reported in Form P11D?
  5. Sean Tan

    Home Office Expenses for Limited Company

    What does "claim" mean here? Does it mean we can pay the director that amount and put it under expense? Or does it just mean it allows tax relief without any payment?
  6. Sean Tan

    What is the easiest way to record Amazon sales and fees on Quickbooks?

    HMRC does not check our accounts for us, so it think it did not mean your accounts was okay. Your accountant might not do your accounts properly too, and I understood that it is the director's responsibility, not the accountant's, if anything not right. Euro might have strengthened in that few...
  7. Sean Tan

    What is the easiest way to record Amazon sales and fees on Quickbooks?

    Verifying each Amazon transaction in the bank reconciliation screen will be a nightmare. I don't think we should be doing this for thousands of transactions .. Better leave the inventory tracking bit to other software, rather than complicating the accounting software. Better to reconcile...
  8. Sean Tan

    What is the easiest way to record Amazon sales and fees on Quickbooks?

    I have been scratching my head. I don't think this technique works when multi-currency is involved. Basically the foreign balance (sales - expense) stays in foreign currency while in Amazon US and also when it is paid out to a foreign bank acccount. It is only converted when transferred back to...
  9. Sean Tan

    What is the easiest way to record Amazon sales and fees on Quickbooks?

    For the lazy people, is it legal to run only one payment report for the whole year, and enter only one set of annual values (instead of monthly values)? And just use one year end FX rate, instead of month end FX rates?
  10. Sean Tan

    What is the easiest way to record Amazon sales and fees on Quickbooks?

    What if a seller sells in two marketplaces with different currencies e.g. UK and US? We have two reports in 2 currencies. Do we just simply convert the USD incomes and expenses using the month end exchange rate?
  11. Sean Tan

    Having a UK phone number while living abroad

    How does it work? Can you please elaborate where can one get a virtual phone number?
  12. Sean Tan

    Having a UK phone number while living abroad

    How do your port the number? Is the UK sim card still required? And is internet then become necessary to receive calls?
  13. Sean Tan

    E-commerce sales invoices

    For high-volume sellers i.e. 300+ sales a day, would it be a nightmare for accountants to have issued 100000+ invoices in a year? Or is it fine because it is in a digital form?
  14. Sean Tan

    E-commerce sales invoices

    For each record of the sale in the till, is an invoice number generated at point of sales? Or is an invoice number generated only later when the customer comes back to ask for a tax invoice? Just wondering if the sales records in the till are actually simplified tax invoices.
  15. Sean Tan

    E-commerce sales invoices

    Are the tax invoices actually created and stored in a folder? Or are they invoices viewable only via the interface of the software they are using.
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