Best Of
Re: Process for closing a limited company
1 - Prepare accounts for August and submit a CT600 to HMRC - Pay any outstanding tax
2 - Prepare accounts for 01/09 to the agreed close down date, submit final CT600 to HMRC and pay any tax due
3 - Cancel any recurring payments to come out of the bank account and remove any funds from the business (Really stress this point, if there is money in the account when the company closes, it's costly to get it back)
4 - Apply for strike off
5 - Wait for company to close
6 - Pay any tax due on dividends from any written off overdrawn DLA (if applicable)
With regards to the laptop, as long as you sort out the balancing charge for the company tax, I'd transfer it to the shareholder and at the disposal value and account for it in the DLA. Unless it's a supercomputer, I doubt the capital gains tax section below will apply
https://www.gov.uk/closing-a-limited-company (By the sounds of it, you want the solvent option at the top)
https://www.gov.uk/strike-off-your-company-from-companies-register
https://www.gov.uk/strike-off-your-company-from-companies-register/close-down-your-company
2 - Prepare accounts for 01/09 to the agreed close down date, submit final CT600 to HMRC and pay any tax due
3 - Cancel any recurring payments to come out of the bank account and remove any funds from the business (Really stress this point, if there is money in the account when the company closes, it's costly to get it back)
4 - Apply for strike off
5 - Wait for company to close
6 - Pay any tax due on dividends from any written off overdrawn DLA (if applicable)
With regards to the laptop, as long as you sort out the balancing charge for the company tax, I'd transfer it to the shareholder and at the disposal value and account for it in the DLA. Unless it's a supercomputer, I doubt the capital gains tax section below will apply
https://www.gov.uk/closing-a-limited-company (By the sounds of it, you want the solvent option at the top)
https://www.gov.uk/strike-off-your-company-from-companies-register
https://www.gov.uk/strike-off-your-company-from-companies-register/close-down-your-company
J_ACO
1
Re: Total Target Costs
Hello,
From my understanding, there has been an increase in selling price of £2 per unit which makes now the selling price per unit £22 compared to £20 before.
Total cost = Fixed cost + Variable cost => (270,000+450,000)/45,000units = £16/unit
Profit/unit= Selling cost/unit - Total cost/unit => 22-16= £6/unit
Hope that helps.
From my understanding, there has been an increase in selling price of £2 per unit which makes now the selling price per unit £22 compared to £20 before.
Total cost = Fixed cost + Variable cost => (270,000+450,000)/45,000units = £16/unit
Profit/unit= Selling cost/unit - Total cost/unit => 22-16= £6/unit
Hope that helps.
ACCA optional Papers
For anyone, who needs guidance regarding ACCA optional papers, I would highly recommend everyone to watch this video by Sir Owais Mirchawala. This video is quite helpful for people who are confused while choosing their ACCA optional papers: 
https://www.youtube.com/watch?v=pwHGnPzi3x0
https://www.youtube.com/watch?v=pwHGnPzi3x0 
Aditi
1
Re: Glitch during exam
Yo sorry to hear that.
For my level 2 we didn’t have excel so I won’t be able to help. Btw, AAT can only provide a 2% max upgrade on the exam result. It’s such a pain when it does happen.
Oh well you can’t do anything know…
For my level 2 we didn’t have excel so I won’t be able to help. Btw, AAT can only provide a 2% max upgrade on the exam result. It’s such a pain when it does happen.
Oh well you can’t do anything know…
anony123
1
Re: Paying a person of significant control?
Yes, they can. Anyone, even current and previous owners, can invoice a company for services provied.
phoenixd
1