Purchase accruals - report to NCIS?
A company purchases goods for resale and accrues for the cost in its accounts.
The supplier fails to submit an invoice and the goods remain unpaid for.
If the company that bought the goods does not take steps to obtain an invoice from the supplier despite knowing that they should have paid for those goods, would that amount to dishonesty and lead to the requirement for a report to NCIS?
Might the answer differ depending on whether the company purchasing the goods retained the accrual in its accounts or wrote it off at some point?
Any thoughts gratefully received!
Edward C Rands
- Employmnet Allowance 2015/2016 20 1
- Tax refunds for 2014/15 140 1
- Where do Balance Sheet Gains get recognised in CT600? 832 40
- Tax relief for networking day out? 533 14
- SA316s 178 3
- Working in Iraq, how to treat the income 55 1
- Swiching tax 528 15
- Is cloud accounting software all just pie in the sky 743 23
- Proposal to strike off...... 511 10
- How can i allow my clients to digitally sign? 528 10
- Can I recharge Car loan interest 374 11
- Start-up cost recognition 107 1
- Lunches 247 3
- Mortgage Adviser's request 396 8
- VAT on non-denominated postage 144 3
- Generic notification message 259 6
- Property Expenses 223 7
- Auto Enrolment (sorry) 159 1
- Accrued salary unpaid 265 4
- P60 from HMRC Basic Paye Tools 4,220 18
- Construction CIS LLP Company 605
- Services via intermediaries and new HMRC reporting requirements 592
- LIVE: Budget aftermath webinar 387
- Pensions Regulator 352
- NIC contribution on unremitted income 292
- Using the correct forms 266
- SA penalty proposals 257
- RTI - duplicate employee record 256
- Accelerated payment notices 237
- How hard is it to reduce a code? 228