Recent content by xray123

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    Unable to to pay back bounce back loan

    I have taken 40k bounce back loan on one of my LTD businesses which isn't doing well due to covid. I want to know what are the reprecussions of defaulting? I have other LTD businesses that bank with the same bank - would this affect them if I default on the loan for the failing business? How...
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    Furlough, latest guidance

    I pay them monthly and operate as a ltd. It will be such a help if I can use this scheme. Even if the accountant backdates I wont be eligible? If I can get hold of my accountant I'll ask....
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    Furlough, latest guidance

    I haven't paid my employees for February yet. They agreed they would receive February's pay with March's payroll. My accountant said it was acceptable as he could back date pay. I haven't done payroll for myself either. I have a total of three employees plus myself= 4.
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    Furlough, latest guidance

    I read the Covid 19 job retention scheme guidelines and confused about this particular sentence: "The scheme is open to all UK employers that had created and started a PAYE payroll scheme on 28 February 2020." Does this mean for employers are eligible if they registered for PAYE on or before...
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    Starting a small college for GCSE, A levels and Foundation courses

    I would like to start a small college for GCSE, A levels and Foundation courses in London. I have contacted Ofqual, AQA, JQL and they either don't know what I should do or give advice which is incorrect. I will be trying Ofsted tomorrow, but any advice on who I should speak to would be...
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    Back dating salary? Accountant says its fine.

    I'll ask what they exactly mean. I have checked ACCA website and they are registered.
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    Back dating salary? Accountant says its fine.

    Thats what I want to know... Why is the accountant saying I can back pay?
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    Back dating salary? Accountant says its fine.

    My company was only established two months ago, but I have been working on my business since July 2015. I have asked my accountant if it is acceptable to back date salary, and he has advised I can back date to April 2016. Is there any tax or legal implications if my company was only...
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    Taking money from Sole trader, and injecting into newly formed company

    Thank you for the swift response. Is there any potential ramifications at all?
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    Taking money from Sole trader, and injecting into newly formed company

    I want to start a new business, and use my funds from my existing sole trader business, but I am confused on whether I would have to pay tax on the money I want to take out of the sole trader business and put into the new start up company. If I take £30k from an existing sole trader business...
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    Company about to be dissolved - I owe £130k. Help!

    If I sold my business before it was dissolved, and didn't pay the bank or hmrc. Is there anything they could do?
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    Company about to be dissolved - I owe £130k. Help!

    If i sold my business before It was dissolved and didn't pay bank or hmrc. What would happen?
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    Hypothetically - If I sold my business and didn't pay back the banks or hmrc?

    Likely to be bankruptcy, prison or something else?
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    Hypothetically - If I sold my business and didn't pay back the banks or hmrc?

    After the sale, even if i stayed in the UK. What could they do to me personally?
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    Hypothetically - If I sold my business and didn't pay back the banks or hmrc?

    Hypothetically - If I sold my business and didn't pay back the banks or hmrc? What could bank or hmrc do? Bank has a directors guarantee, but I own no assets.
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