Recent content by teamjoel

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    Accountancy fee's for Partnership return and SA

    Hi all, I'm just after a little guidance on accountancy fee's for completing a partnership return for a ceased partnership (which ceased halfway through the accounting period) and my associated Self Assessment for the 2010/11 year. It was a relatively simple set-up; a 2 person affair. Accounts...
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    Final partnership return - dealing with cessation

    Hi all, I'm completing my final Partnership Return (sa800) for the year 2010/11 and just need clarity on something. The basis period and accounting period are both the same (01 April - 31 March). The partnership ceased on 31 Oct 2010. I've completed box 3.7 on the return with the date the...
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    Tax Rebate

    Hi all, I am due an income tax rebate from the tax year ending April 2011. For the 1sthalf of the year, I was running my own business (equal partnership) which made a loss For the 2nd half of the year, I was in full time employment, paid via PAYE. Would the loss in half 1 be deducted...
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    Lease question; one person under 18...

    Thanks, Does it have any bearing that the under age party has since turned 18?
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    Lease question; one person under 18...

    Would the fact that all parties are held as a collective (i.e. the Tenant) not have a bearing on this? Am I wrong in thinking that the person who was under 18 at the time of contract has the right to void the contract in its entirity? Regards
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    Lease question; one person under 18...

    Hi, I've got a question regarding a commercial tenancy lease. 3 of us entered into a commercial lease to rent shop premised; at the time of entering contract one person was under 18 years of age, however he signed the lease on his own behalf. This is taken from the lease: This lease is made...
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    Assigning Lease - Guarantees

    Oh no, I am absolutely confident in the purchaser succeeding; I was simply unaware of such clauses being common in commercial leases and was therefore intially quite taken aback and wary. I do tend to err on the side of caution and perhaps somewhat over-prudent in this situation. For reference...
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    Assigning Lease - Guarantees

    The assignment is pending references. Also, by nature of the assignment, the outgoing tenant in effect will be acting as guarantor. I have spoken with the Landlords solicitor today and proposed a waiver of the AGA in return for a fee. Currently waiting on hearing back about this. Would a...
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    Assigning Lease - Guarantees

    By new lease, do you mean get the assignee to rather sign a new lease with the landlord than merely be 'assigned' the lease? And also what securities do you speak of? The incoming tenant is of good stature and is far more likely to keep up payments! This should provide some good 'ammo'. I'll...
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    Assigning Lease - Guarantees

    Unfortunately there is no break clause. The relationship with the Landlord has never been tested; rent has always been paid on time and in full. In effect, the AGA ultimately puts responsibility back on us and as such I am very uncomfortable with agreeing to it. All outgoing tenants have no...
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    Assigning Lease - Guarantees

    Agreed, but this kind of agreement affects outgoing tenants irrespective of the duration of the lease. Also, there are many variables that can contribute to the demise of the business whether it be profitability, the trading location, or the disintegration of a partnership, for example. In the...
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    Assigning Lease - Guarantees

    Hi all, Currently selling the business and as such are assigning the lease over to the new owners. Now, it appears that the 'deed of covenant' attempts to make us, the original tenants, guarantee the Assignee in the sense that if the Assignee fails to make payment/goes bankrupt, we have to...
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    Sale of Business - Cash Assets

    Ahh I see, the business is not incorporated so when it changes hands, ourselves (the sellers) will be retaining the debts. Are we thus able to retain the cash assets and bank balance?
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    Sale of Business - Cash Assets

    Hi All, Currently looking at selling my business and I was wondering...what happens to Assets such as Bank Balances and Cash? are these also transferred to the purchaser along with normal assets or are these retained by the seller? As for liabilities such as creditors, are these transferred to...
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    Power of Attorney

    thanks. how would I go about getting this in place?
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