In at the deep ?
Been asked to look at the Accounts of a Deep Sea Diver to establish whether it would be of benefit to Incorporate his existing Sole Trade business currently showing a net profit in excess of £ 150 K.
Whilst I can do the necessary calculations etc. a couple of matters have come to light which I really ought to sort before I go further :-
The client is adamant ( no paperwork forthcoming ! ) that the Contractor pays his Nat Ins !
The P/L A/c for the Sole Trade splits the turnover between the UK Sector & Non-Uk !
Have no experience whatsoever ( therein probably lies the answer ! ) of this Industry sector - can anyone point me in the right direction as HMRC's Web-Site is like sifting through treacle on these points.
- VAT return - Box 7 & 9 Vat cash accounting 15 1
- FRS 102 Fair Value v open market value 94 2
- Taxfiler V's BTC 786 31
- Quickbooks 2015 165 1
- Halloween - do you celebrate it? 325 13
- Sage reporting 93 4
- SA302's anyone?? 2,767 41
- Directors loan accounts 230 6
- Professional Clearance 1,504 23
- Recommendations for payroll/AE software? 321 8
- Expense receipt from previous quarter not included in VAT return 95 2
- Change of director first name on Annual Return 118 2
- BTC Software 252 9
- Allowable expenditure when claiming wear & tear 180 7
- Clearing payments on account/ Sage 50 96 5
- Goods Purchased for Rental 570 30
- Incorporation - any tax advantage? 2,702 25
- Audit procedures on a dormant company 98 1
- Offshore company transferring assets to a UK individual. 231 7
- Completing RP1 form in re Redundancy /Insolvency 221 7
- Nil Rate Band Trust - index linked debt by way of charge over property 1,012
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 520
- NOVA 477
- Bonus Bonds 359
- Insolvency and whistle blowing 344
- Transfer of funds into recently set up company 260
- Payment for Promotional Samples 233
- TPR imposes first penalty notice fines 229
- Friendly Pensions 155
- Box 8 VAT Return - deposit payment 145