How strict should you be as an accountant? E.g. If a client asks you to leave accrued income out of the accounts so they pay less tax? Is it ok to include it in the following years accounts? So not evading the tax but deferring it? Same question for vat if under 10k? Would you do this?
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and thrice nay
(unless you are talking about a company with turnover of £862 million and total net assets of £567 million.)
You could quite legally leave accrued income out of the accounts if you wanted to prepare them on the cash basis, but there are other implications, and as you say, you would only be deferring the income for one year.
You haven't mentioned a limited company until this post!So limited company accounts don't legally have to be done on the accrual basis? HMRC's website states Ltd Co's and LLP can't use the cash basis? Now I am confused!
Why then are you giving advice as if you are an accountant in your posts on other threads???I am not actually an accountant. I don't actually know what is legal or not as I have not studied it yet.
I must spell advice correctly.
I must spell advice correctly.
I must spell advice correctly.
I must spell advice correctly.
I must spell advice correctly.
I must spell advice correctly.
I must spell advice correctly.
I must spell advice correctly.
Strange that, nothing to offer yet you appeared to like my post on the other thread.
Not accountancy advice,I know,but a less prickly demeanour tends to elicit a better response on here.
In my opinion a little light ribbing does no harm, how one reacts to it often defuses a situation and does tend to say a great deal about the individual.
Maybe you are more sensitive than most so to keep the peace I will desist bothering responding re your posts-life it just too short.
Along with myself DJKL, I'm sure, will have heard of predictive text. The difference, is of course, both DJKL and myself, know how to use and adapt it.
If you play with grown ups, expect to take constructive criticism, occasionally. You never know, you might thank people for it, once you've learnt some humility.
Last chance saloon
Know when to put the shovel to one side.
Of course I've made mistakes. Still do. However, I've learnt when to stop digging and, hopefully, how not to have a prickly attitude. Chips on shoulders don't impress.
That's one of my pet hates. I cringe when I see the word advise when it should have been advice.
"I should practise spelling advice correctly when I advise an Aweb respondent about his practice" would have been better! (repeated as any times as you like)
If a client asks you to leave accrued income out of the accounts so they pay less tax? Is it ok to include it in the following years accounts? So not evading the tax but deferring it?
Yes, for a sole trader or partnership; it's called the Cash Basis.
Same question for vat if under 10k? Would you do this?
Quite likely, by virtue of VAT Cash Accounting.