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Nimac


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sage postings
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Hello

My client has an ex-employee who has won an unfair dismissal claim and a settlement has been paid.

I have been looking through the n/c's and none seem applicable.

Can anyone suggest a nominal code.

Many thanks.

 



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Wella


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An interesting situation (from a bookkeeping point of view)

If it were me, I would create a staffing cost nominal code in the 70xx range.

As it is a litigation type of expense, rather than a court ordered punitive fine, it will most likely be an allowable expense for tax but I have not fully checked that out

HTH

Bill

Edit: Just to clarify, I had a quick dig around and BIM 42515 seems to cover this as it appears to be a restitutional payment, rather than punitive fine

http://www.hmrc.gov.uk/manuals/bimmanual/BIM42515.htm



-- Edited by Wella on Friday 16th of December 2011 10:48:34 AM

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