Recent content by vic1959

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    LTD or LLP

    My initial thoughts: A few downsides : · The way that dividends may be used in a LTD company makes it more tax efficient to its shareholders. The members (partners) of an LLP are taxed as if they were sole traders. This means that they are taxed on their share of the profit...
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    LTD or LLP

    Hi everyone, I have been asked if there are any downsides in converting from an existing limited company to a LLP. I have a few thoughts but wondered if anyone has an opinion on this. Your thoughts would be much appreciated. Vic
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    Is this a resonable quote for accountancy and taxation services?

    Hi, I have just read through your thread and think that you have been quoted too high a price. I am not sure where you are based but if you are in the South East I would suggest we meet with you and discuss how we could be of help to you. Otherwise we could discuss over the phone. We have a...
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    Sage question

    Many thanks Chris
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    Sage question

    Hi all, I have a question regarding customer records in sage. I have taken over someone's sage accounts and want to change the customer a/c codes but not sure if there is a way. The previous accountants allocation of codes was not very good - they just added to the customer codes with no real...
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    VAT margin scheme and Sage

    Thank you for your prompt reply
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    VAT margin scheme and Sage

    Good morning all. I was wondering if anyone could provide some guidance regarding using sage 50 accounts 2011 for a company trading in secondhand motorbikes operating under the margin scheme for vat. I'm struggling to work out the best way to do this and wondered if anyone is already keeping...
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    Home as office usage - accounting question

    Elaine, I tried to go to your blog but when i click on it it tries to load but after only a few seconds stops as if it has loaded but nothing's there. Have you moved it to another address? Vic
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    Rent and council tax as an allowable expense

    Hi, if the room is used soley for the business and not for any other purpose wouldn't you take the full 25% in this case? Could you argue also that it is still being used for a business purpose as its storing the various potions etc (sorry not up on whats involved in massage therapy).
  10. V

    council tax

    Thank you for this. So am I right in thinking that as the landlord and his wife each own 50% of the shares then they would be liable to tax and NI if the ltd company paid the council tax bill. It would in effect become a benefit in kind?
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    council tax

    Good morning all some guidance needed please. One of our clients is a landlord of a public house operating through a limited company. He, along with his wife, has a separate house but frequently they stay at the living quarters above the pub, so that someone is always on the premises, and...
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    Do I need to submit P11d?

    thank you for your prompt reply
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    Do I need to submit P11d?

    If an employee has to travel on business and pays for the train fare etc out of their own account and then gets reimbursed by the company, would a P11d be required?
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    write off of loan to former employer

    i think thats where he may have a problem. i don't think there was any formal agreement in place and certainly no consideration. He just paid oiver the amount to clear the company's tax bill without asking for interest etc. I think his concern was that if the company went under due to the tax...
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    write off of loan to former employer

    so do you think he can write this off against tax just like other debts that become bad (uncollectable) debts?
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