General Book-keeping & Accounting - The Book-keepers Forum (UK)

NA_AA · NA_AA

Hi, I have been approached by someone who wants me to provide a draft P&L and a covering letter which they can show to the Home office. Basically, the person is registered as self employed and has been working as a contractor for the last 10 months. As this hasn't been a complete year, they want me to s...

abacus12345 · abacus12345

Is this a fair assumption of s86? A sole trader, can carry forward any unrelieved losses into a connected company, trading in the same trade if he accepts shares by way of the difference? -- Edited by Shamus on Tuesday 8th of March 2016 03:41:07 PM

abacus12345 · abacus12345

Do you allow, or disallow the cost of a SA? ITTOIA 34 (1)(a)

Emmiestar · Emmiestar

Hi Everyone, Can you please advise me on how to account for cash that has been stolen? We got broken into and they took the petty cash - approx £1k I need to remove the cash from the Banks and put it to the I&E - but as what kind of expense? Sundry items? Miscellaneous? A new category? Believe it or not,...

samsonite · samsonite

Hi there :) I have a book keeping question. I have a small business (Biz A) and recently started another business (Biz B) with a friend of mine. During the setup stages Biz A paid out around £1000 for things like domains, websites, etc. on behalf of Biz B. I have all the expenses marked out accordingly in m...

abacus12345 · abacus12345

For me it's a credit purchases, I've seen credit to sales. Now to me, this isn't wrong but surely this will distort all sorts of ratios. Is this not a way to massage the figures?

Lyndsey · Lyndsey

Looking for some advise from you clever people thats not really bookkeeping/accounting. My client has received some bills from their landlord for electricity availability in their unit. To say their landlord is a bit untrustworthy and I want to see if anyone has come across this before. Bit of ba...

abacus12345 · abacus12345

https://www.gov.uk/government/publications/finance-bill-2016-draft-legislation-overview-documents

Cheshire · Cheshire

Hi once again HSBC are having problems but have failed to put anything on their online banking/twitter feeds etc. So just thought I would pop it on here so anyone using this lot are aware. Not affecting everyone though.

justme0316 · justme0316

Evening. Often it is seen in my text books the term 'election' Does this mean a call to HMRC is needed? Or to be made obviously clear on a tax return? Thank you very much.

Maria LR · Maria LR

Hello All, I am doing an assignment for HLC and I am pretty stuck. Something doesn't make sense to me and I need someone with more knowledge to explain it please. After checking the items in both the PL and the SS, I found the following: PL- Payment of £986 not in SS (paid towards the end of the month after t...

lesleyanneoliver · lesleyanneoliver

Hi guys sorry me again :) I am working with a client today and their financial year is Sept - Aug Their VAT qtr is Aug - Oct I have introduced the client to Sage and I am currently putting in all information. Their accountant has only last year accounts and hasn't finalised them so I have no opening balances...

KBS · KBS

I have a client who at present is working as a VAT registered sole trader. as of 1st April she will be trading as a Ltd company. Currently using Kashflow which is a cloud based accounting package. I was wondering how much of the old information, with regards to paid sales invoices she will need to keep. Th...

KIRSTYSMITH · KIRSTYSMITH

I have just started a new job doing accounts and have had to set up the company on sage 50 from scratch, I have not done this before and I just wanted some help with were to post the invoices for the initial set up costs for the company for example architect fees, building materials, furniture etc sho...

sadiesilverwings · sadiesilverwings

Hi. We have recently received an invoice less a LAD's deduction due to unavoidable delays in the project. As the original invoice has already been logged onto SAGE how do I process the LAD's deduction? Would it be appropriate to issue a credit note or would that throw problems as the LAD's is a deductio...

Leger · Leger

I claim mileage from my company at 45p a mile. I mostly use the company bank account to pay for the actual fuel used. How best to treat it? Easiest to me would be to allocate the fuel payment to DLA and then do a journal DLA to motor expenses for the mileage. Is this ok, or should I be putting the fuel paymen...

abacus12345 · abacus12345

Incorporating and disincorporating a business. Mark McLaughlin. Looks the business. It's almost 100 mind, so I'd appreciate a review please.

sarah493 · sarah493

My client in a large constructions company. They have a large amount of retention sat in their debtors and for one reason or another they would like to reduce the debtors and account for these retentions in a different way. Researching the HMRC website their advice is as follows: include retentio...

lesleyanneoliver · lesleyanneoliver

Hi, Need help In order to claim the Vat back on a purchase of a new car, the owners of a company decided to get it invoiced under the business but it will generally be used for Social, Domestic and Pleasure When it comes to registering the car, do they have to register it under the companies name or can they p...

abacus12345 · abacus12345

Why on earth would anyone want a company car???? Take for example- A very modest Petrol 75g /KM £15295 (Figures rounded to nearest £) During FA2014 First year with the car. 15295 x 5% 765 21700 x 5% 1085 £1850 Ok, that's reasonable. During FA2015 Second year with the car. 15295 x 9% 1377 22100 x...

Topic		Started By	Replies	Views	Last Post
	P&L for home office (Preview) Hi, I have been approached by someone who wants me to provide a draft P&L and a covering letter which they can show to the Home office. Basically, the person is registered as self employed and has been working as a contractor for the last 10 months. As this hasn't been a complete year, they want me to s...	NA_AA	10	3653	Sat Mar 12 10:14 2016 by Cheshire
	losses taken forward into a company (Preview) Is this a fair assumption of s86? A sole trader, can carry forward any unrelieved losses into a connected company, trading in the same trade if he accepts shares by way of the difference? -- Edited by Shamus on Tuesday 8th of March 2016 03:41:07 PM	abacus12345	23	4179	Fri Mar 11 16:45 2016 by abacus12345
	Self assessment (Preview) Do you allow, or disallow the cost of a SA? ITTOIA 34 (1)(a)	abacus12345	47	2024	Wed Mar 9 15:34 2016 by abacus12345
	Accounting for Theft (Preview) Hi Everyone, Can you please advise me on how to account for cash that has been stolen? We got broken into and they took the petty cash - approx £1k I need to remove the cash from the Banks and put it to the I&E - but as what kind of expense? Sundry items? Miscellaneous? A new category? Believe it or not,...	Emmiestar	4	1513	Wed Mar 9 13:43 2016 by Emmiestar
	Book keeping entries for payments for a business made by another business during set up bookkeeping (Preview) Hi there :) I have a book keeping question. I have a small business (Biz A) and recently started another business (Biz B) with a friend of mine. During the setup stages Biz A paid out around £1000 for things like domains, websites, etc. on behalf of Biz B. I have all the expenses marked out accordingly in m...	samsonite	9	3910	Tue Mar 8 19:52 2016 by samsonite
	Owners taking own goods (Preview) For me it's a credit purchases, I've seen credit to sales. Now to me, this isn't wrong but surely this will distort all sorts of ratios. Is this not a way to massage the figures?	abacus12345	3	832	Tue Mar 8 15:03 2016 by abacus12345
	Advice on Electricity Bills (Preview) Looking for some advise from you clever people thats not really bookkeeping/accounting. My client has received some bills from their landlord for electricity availability in their unit. To say their landlord is a bit untrustworthy and I want to see if anyone has come across this before. Bit of ba...	Lyndsey	5	1347	Mon Mar 7 18:57 2016 by abacus12345
	Draft FA 2016 (Preview) https://www.gov.uk/government/publications/finance-bill-2016-draft-legislation-overview-documents	abacus12345	13	1387	Mon Mar 7 14:49 2016 by abacus12345
	HSBC problems (Preview) Hi once again HSBC are having problems but have failed to put anything on their online banking/twitter feeds etc. So just thought I would pop it on here so anyone using this lot are aware. Not affecting everyone though.	Cheshire	1	1387	Sun Mar 6 10:38 2016 by Shamus
	Short life election (Preview) Evening. Often it is seen in my text books the term 'election' Does this mean a call to HMRC is needed? Or to be made obviously clear on a tax return? Thank you very much.	justme0316	1	988	Sun Mar 6 07:41 2016 by Cheshire
	Reconciling PL Against Supplier Statement (Preview) Hello All, I am doing an assignment for HLC and I am pretty stuck. Something doesn't make sense to me and I need someone with more knowledge to explain it please. After checking the items in both the PL and the SS, I found the following: PL- Payment of £986 not in SS (paid towards the end of the month after t...	Maria LR	10	1785	Fri Mar 4 20:24 2016 by Maria LR
	VAT & Opening Balances (Preview) Hi guys sorry me again :) I am working with a client today and their financial year is Sept - Aug Their VAT qtr is Aug - Oct I have introduced the client to Sage and I am currently putting in all information. Their accountant has only last year accounts and hasn't finalised them so I have no opening balances...	lesleyanneoliver	3	1005	Fri Mar 4 18:08 2016 by Cheshire
	Changing from a sole trader to a Ltd company (Preview) I have a client who at present is working as a VAT registered sole trader. as of 1st April she will be trading as a Ltd company. Currently using Kashflow which is a cloud based accounting package. I was wondering how much of the old information, with regards to paid sales invoices she will need to keep. Th...	KBS	6	839	Fri Mar 4 13:40 2016 by Cheshire
	WHERE TO POST INITIAL SET UP COSTS ON SAGE 50 (Preview) I have just started a new job doing accounts and have had to set up the company on sage 50 from scratch, I have not done this before and I just wanted some help with were to post the invoices for the initial set up costs for the company for example architect fees, building materials, furniture etc sho...	KIRSTYSMITH	2	1260	Fri Mar 4 13:03 2016 by abacus12345
	Construction industry LAD's deduction (Preview) Hi. We have recently received an invoice less a LAD's deduction due to unavoidable delays in the project. As the original invoice has already been logged onto SAGE how do I process the LAD's deduction? Would it be appropriate to issue a credit note or would that throw problems as the LAD's is a deductio...	sadiesilverwings	3	1507	Fri Mar 4 11:46 2016 by Cheshire
	Accounting for mileage claims from Director (Preview) I claim mileage from my company at 45p a mile. I mostly use the company bank account to pay for the actual fuel used. How best to treat it? Easiest to me would be to allocate the fuel payment to DLA and then do a journal DLA to motor expenses for the mileage. Is this ok, or should I be putting the fuel paymen...	Leger	2	837	Thu Mar 3 23:26 2016 by Leger
	Have you read this book? (Preview) Incorporating and disincorporating a business. Mark McLaughlin. Looks the business. It's almost 100 mind, so I'd appreciate a review please.	abacus12345	6	912	Thu Mar 3 22:57 2016 by abacus12345
	Advice on what I should do with retentions. (Preview) My client in a large constructions company. They have a large amount of retention sat in their debtors and for one reason or another they would like to reduce the debtors and account for these retentions in a different way. Researching the HMRC website their advice is as follows: include retentio...	sarah493	5	1048	Thu Mar 3 21:02 2016 by sarah493
	Business buying a car (Preview) Hi, Need help In order to claim the Vat back on a purchase of a new car, the owners of a company decided to get it invoiced under the business but it will generally be used for Social, Domestic and Pleasure When it comes to registering the car, do they have to register it under the companies name or can they p...	lesleyanneoliver	5	591	Thu Mar 3 12:48 2016 by abacus12345
	The insanity of the company car. (Preview) Why on earth would anyone want a company car???? Take for example- A very modest Petrol 75g /KM £15295 (Figures rounded to nearest £) During FA2014 First year with the car. 15295 x 5% 765 21700 x 5% 1085 £1850 Ok, that's reasonable. During FA2015 Second year with the car. 15295 x 9% 1377 22100 x...	abacus12345	5	781	Wed Mar 2 22:40 2016 by abacus12345
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