Recent content by UK Contractor Accountant

  1. UK Contractor Accountant

    Insolvency Practitioners Duties Regarding Bounce Back Loan Abuse!

    by whom? only had limited prior convictions - that's a comfort then!
  2. UK Contractor Accountant

    Insolvency Practitioners Duties Regarding Bounce Back Loan Abuse!

    The curious case of the Lamborghini, Porsche, Mercedes & HMRC/BBL Scam A police investigation sparked by the seizure of a Lamborghini ultimately exposed two significant fraud schemes orchestrated by a man from Bradford. At Bradford Crown Court, the case cantered on Shakeel Hussain, who in July...
  3. UK Contractor Accountant

    Barclays Business - disappointing tech

    Cant you just flag data range you need and export transactions as a CSV or Excel file?
  4. UK Contractor Accountant

    Corporation Tax Liability

    provision for corporation tax liability should already been included in the company accounts under FRS102 or FRS105 reporting. The CT payment should clear the provision otherwise there will be an under/over provision to account for.
  5. UK Contractor Accountant

    Laptop for rental business (limited company)

    Think you need to consider your Fixed Assets Accounting Policy you are going to use for the year end Statutory Accounts (FRS102 or FRS105) and apply it consistently. E.g - Office Equipment purchases under £300 are expensed. > £300 go to fixed assets and depreciated straight line over 4 years...
  6. UK Contractor Accountant

    Food on the road

    long distance lorry driver/van drivers yes can claim regular route delivery drivers probably no HMRC's argument you have to consider- food and drink costs aren't generally deductible because everyone needs to eat to live, so they're normal living costs, not business expenses.
  7. UK Contractor Accountant

    How to deal with a directors loan repaid after 4 years

    As Post #18 above if it was properly declared by the Director as interim dividends and recorded as such in the accounting records then your Accountant has no business reclassifying it as a Director Loan.
  8. UK Contractor Accountant

    Insolvency Practitioners Duties Regarding Bounce Back Loan Abuse!

    don't think it said that - as long as it was for the economic benefit of your company all was fine.
  9. UK Contractor Accountant

    Partnerships and AIA

    Nope -I'm afraid not.
  10. UK Contractor Accountant

    Partnerships and AIA

    its only the corporate partners share that can be claimed as full expensing or FYA From HMRC manuals: CA11145 Mixed partnerships For a partnership with some members within the charge to IncomeTax and some within the charge to Corporation Tax, before the partnershipprofits are allocated to the...
  11. UK Contractor Accountant

    Partnerships and AIA

    Mixed partnerships—those with both individual and corporate members—cannot claim the Annual Investment Allowance (AIA) on qualifying plant and machinery expenditures. While they are excluded from the £1m AIA, they can still claim other capital allowances, such as Full Expensing or First Year...
  12. UK Contractor Accountant

    employing an accountant to vet the statutory accounts of a community benefit society.

    think you may need both? - see below. Need to report under FRS102 or FRS 102 Section 1A (reduced disclosures for smaller entities) Accs Report will be required if income > £90K
  13. UK Contractor Accountant

    employing an accountant to vet the statutory accounts of a community benefit society.

    will need an Accountants Report or Audit or neither?
  14. UK Contractor Accountant

    Advice needed: Gifting farm land vs cash to daughter

    You seem to have muddled up Capital Gains Roll Over Relief and Agricultural Property Relief for IHT. Go back to your Accountants and ask them to explain fully the taxes applying if you do not re-invest into qualifying business assets and gift hold over reliefs for CGT/IHT.
  15. UK Contractor Accountant

    Council tax AFTER bankruptcy and disclaimer?

    1. What Happens to the Property (Ownership) The Property Does Not Vanish: The legal estate in the property does not cease to exist, but the trustee no longer has an interest in it. Reversion to Owner/Third Party: The property interest may revert to the former bankrupt owner, or if the property...
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