Hi all, I've a client who incorporated in March 15, he's continued to use his personal account until Sept 15, when he opened a ltd co account. I think all transactions from personal should be recorded on self assessment, but client wants me to put all through company, any help pls?
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I assume that the client is no longer trading as SE, so why would anything go on his SA? Are you saying that he was still trading in his own right as well as trading under the company?
The key is surely what did happen not what anyone wished to have happened.
When he incorporated what was done (beyond forming the company)?
What are the facts re things like vat/payroll, names on invoices, business cards used etc?
The implication of the client's preferred treatment is that there will possibly be a s455 issue, but if what happened is that the transactions are the company's, and the client currently appears to think they are, then so be it.
Does the client have any records re dividends/salary paid by the company or does he expect you to write some historical fiction (not a good idea)?
So if the RTI
which has been recorded via rti, and dividend paperwork has been done
So if the RTI submissions are in name of the company they are the company's transactions, the dividends are obviously the company's, the evidence is stacking that the transactions are those of the company.
Accordingly the intromissions on behalf of the company via his personal account need to be established and posted through the company's books with the cross entries to the DLA (as advised above)
If he's closed down as a sole trader what on earth were you planning to put through SA? Are you just making this stuff up as you go along? I see trouble ahead.