The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Friday Quiz....
Post Info TOPIC: Friday Quiz....
RobH


Expert

Status: Offline
Posts: 1963
Date:
Friday Quiz....
Permalink Closed

...is there one?

__________________
Rob
www.accounts-solutions.com
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Yes but not the normal sort (for now).

I've actually got a question that I really don't know the answer to largely because I'm only allowed to go up to trial balance (grrr).

When I sign my companies accounts at year end I have to sign three sets of summary financial statements and three sets of full accounts (Plus the corporation tax return).

I get to keep one of each and one goes to companies house (I assume a full set).

The question is, who gets the other full set and two summary sets?

Can't believe that I don't know the answer to this and it's one of those where it seems such a simple thing that I'm too embarrassed to ask my accountant.

I'll think up a proper question for later.

cheers in advance,

Shaun.

__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

1 full set for the client (you)
1 copy of full accounts to hmrc, 1 copy of abreviated accounts to Co House (=1 full set)

and the bit you kick yourself for mr accountant!

1 full set for the acountant to retain on their permanent file!

Rob

__________________
Rob
www.accounts-solutions.com
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Cheers Rob.

It was the HMRC one that I was missing as just assumed they got sent an electronic copy.

All makes sense now. So they get a full copy with the CT600... Which of course they should also now get electronically.

Maybe it's all going to be different when I sign this years accounts!

Cheers Again,

Shaun.

__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Yes thats right Shaun, HMRC will receive a full set of accounts, CT600 and a copy of the CT computation...the electronic copies look a bit different and obviously if they go in theer is no need for a further paper copy.

__________________
Rob
www.accounts-solutions.com
adi2402


Senior Member

Status: Offline
Posts: 180
Date:
Permalink Closed

There is no need to lodge a signed copy of the accounts with HM R&C, potentially your accountant keeps 2 copys (as we do) one for perm file and a spare for copying to banks etc etc.

I have a quiz question for today if anyone want to try. Forgive me if this is very easy but i'll give it a shot.

Q: when is VAT attributed and paid over on Bank interest received (in the UK and under current legislation)?

__________________
Forgive the typo's I generally do not proof read. Just lazy I guess!
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Ok this is a guess, is it attributable between banks/financial institutions? Otherwise I would have thought it was exempt.

__________________
Rob
www.accounts-solutions.com
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Hi Adi,

I assume that it would be where interest is earned on the VAT held ready to be paid over at the end of the quarter? But I always took that as just good earnings management and I've certainly never paid any interest on it.

Or, what about the interest earned on VAT paid late?

I can see a google search coming on here!



__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
adi2402


Senior Member

Status: Offline
Posts: 180
Date:
Permalink Closed

no, not interest charged on late payment etc etc. actual VAT applied to interest and paid over as part of your returned figures.

__________________
Forgive the typo's I generally do not proof read. Just lazy I guess!
adi2402


Senior Member

Status: Offline
Posts: 180
Date:
Permalink Closed

And to answer rob, no it applied to some normal businesses, wouldnat actually be relivant to banks and such like etc

__________________
Forgive the typo's I generally do not proof read. Just lazy I guess!
adi2402


Senior Member

Status: Offline
Posts: 180
Date:
Permalink Closed

will post an answer after 5

__________________
Forgive the typo's I generally do not proof read. Just lazy I guess!
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

OK I think it is for businesses on the flat rate scheme as hmrc consider interest as part of turnover....had to research this so it had better be correct!

__________________
Rob
www.accounts-solutions.com
adi2402


Senior Member

Status: Offline
Posts: 180
Date:
Permalink Closed

Top marks to RobH. Flat rate scheme is correct.

Its a good one to watch out for as no one seems to apply this when working out the flat rate scheme.

__________________
Forgive the typo's I generally do not proof read. Just lazy I guess!
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

I had absolutely no idea, I'm just about to set uop a couple of flat rate schemes too so useful info...not that there will be much interest earned at the moment!

__________________
Rob
www.accounts-solutions.com
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

OK I have a quick question...nothing to do with bookkeeping but it made me smile whilst I was watching the news the other day:

What's the name of the acting president of Nigeria?

__________________
Rob
www.accounts-solutions.com
Wella


Expert

Status: Offline
Posts: 2256
Date:
Permalink Closed

Had to google it but I see what you mean

Dr. Goodluck Ebele Jonathan

Sounds like a nice man

__________________

 

 
Rhianrach


Expert

Status: Offline
Posts: 1609
Date:
Permalink Closed

Wella wrote:

Had to google it but I see what you mean

Dr. Goodluck Ebele Jonathan

Sounds like a nice man


Has he offered to put a few million dollars in your account, just needs your details. hmm

 



__________________
Steve
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Thats right Bill, they were just calling him 'Goodluck Jonathan' on the news...hope he has better luck than the president who hasn't been seen for some months...KLagos not top of my list for holiday destinations!

2 to go Bill!

__________________
Rob
www.accounts-solutions.com
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Funny you should mention that Steve, he has also offered to meet my elderly spinster aunt because he loves her.

__________________
Rob
www.accounts-solutions.com
Rhianrach


Expert

Status: Offline
Posts: 1609
Date:
Permalink Closed

RobH wrote:

Funny you should mention that Steve, he has also offered to meet my elderly spinster aunt because he loves her.


Wow millions of dollars in your account and a husband for your aunt, he's just give give give huh.

 



__________________
Steve
adi2402


Senior Member

Status: Offline
Posts: 180
Date:
Permalink Closed



__________________
Forgive the typo's I generally do not proof read. Just lazy I guess!
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Friday Quiz....
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About