Best Of
Advice please
I am looking at starting my own bookkeeping business I have very little finance experience.So will be starting from Foundation I want to learn using online training and would like a recommendation as to who is the best provider. I will be working at my current part-time job whilst training and building the business. thank you
Offshore Company
Hi all,
One of my clients is thinking about setting up an offshore company in the Seychelles, which will process credit card payments for an online pharmaceutical company in India. He will then invoice the Seychelles company for 10% commission on the payments received into the Seychelles company. He will declare the 10% commission as income through his VAT registered UK ltd company. He has asked me if this is all legal.
Can anyone see anything obviously illegal here?
Thank you
One of my clients is thinking about setting up an offshore company in the Seychelles, which will process credit card payments for an online pharmaceutical company in India. He will then invoice the Seychelles company for 10% commission on the payments received into the Seychelles company. He will declare the 10% commission as income through his VAT registered UK ltd company. He has asked me if this is all legal.
Can anyone see anything obviously illegal here?
Thank you
Re: Start Up Costs
I've not long become AATQB, so I'm getting my bookkeeping licence and going self employed on the side of my full time job. I'm currently studying level 4, so looking to add services once I'm qualified.
Re: Greenlight tests for personal tax
@AATQUEEN If you have spotted potential mistakes with our learning materials we would be happpy to investigate them. Our friendly customer service team can be reached via [email protected] or via : +44 (0)20 3735 2468
Asset write off when full AIA claimed
I wonder if anyone can advise me, as I don't want to be claiming tax twice on an asset that has been written off for a sole trader.
The asset was afforded full AIA upon purchase of £3,500. Over the last 3 years has accumulated depreciation of £1,708 and has a value of £1,792 left in the accounts.
The asset was damaged and discarded during year 4, and therefore now has no value.
In essence he has lost something, but I don't want to affect his figures in the P & L, where he gets a tax allowance for something that has already been claimed under AIA. If I did put a DR (loss on disposal) in the P & L for the £1,792, I have assumed that I can't put a balancing charge on the SA100 because there was no value left, to counteract to make the tax saving nil.
Many thanks in advance.
The asset was afforded full AIA upon purchase of £3,500. Over the last 3 years has accumulated depreciation of £1,708 and has a value of £1,792 left in the accounts.
The asset was damaged and discarded during year 4, and therefore now has no value.
In essence he has lost something, but I don't want to affect his figures in the P & L, where he gets a tax allowance for something that has already been claimed under AIA. If I did put a DR (loss on disposal) in the P & L for the £1,792, I have assumed that I can't put a balancing charge on the SA100 because there was no value left, to counteract to make the tax saving nil.
Many thanks in advance.
Re: Changing vehicles and how to claim motor expenses
Hi
Yes, I have been purchasing the vehicles outright with no loans or credit agreements.
Sorry, my mistake about preparing accounts by the cash basis. It is indeed by Accruals basis. Checking my accounts done by Accountants from 5 years ago it was indeed Accruals. I have not been taking a capital allowance and have been allowing for depreciation. I have just followed the same principle as the accounts prepared by previous accountants for around 6 years.
The expenses I was thinking about are things like postage, stationery, CPD and subscriptions.
Yes, I have been purchasing the vehicles outright with no loans or credit agreements.
Sorry, my mistake about preparing accounts by the cash basis. It is indeed by Accruals basis. Checking my accounts done by Accountants from 5 years ago it was indeed Accruals. I have not been taking a capital allowance and have been allowing for depreciation. I have just followed the same principle as the accounts prepared by previous accountants for around 6 years.
The expenses I was thinking about are things like postage, stationery, CPD and subscriptions.
Re: Results 11.01.2019
Just checked my emails and I have the same thanks. Oh well checking every 3 minutes it is then (I hope I'm not at this all weekend!) Good luck!
Re: AAT TO ATT-CTA
Also, why tag your question onto an, almost, 2 year old thread ???
