Ltd Co - accounts

Ltd Co - accounts

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I've just taken on a new Ltd Co client - contractor

The directors loan account has transactions which say

B.P.M.P.  -  any clues what this stands for?  Client doesnt know.

Home Phone bills, 80% of Home broadband, rent (no licence agreement that client is aware of and nothing on personal tax return) -  you cant do this can you?  I thought use of home for a contractor was either the increment in the variable portion of bills, a rent from person to Ltd or £4 per week.

Any clues?

Thank you

Replies (4)

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By Peter Kilvington
18th Sep 2012 15:26

Mobile Phone

Hi

Is his mobile phone in his name or the company name.  If it is his name it may be the business proportion of the mobile phone

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By Jekyll and Hyde
18th Sep 2012 15:47

Just read your query, what about..

... Business proportion, monthly payment?

Just guessing, but from your other description it does fit.

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By sheffieldaccountant
18th Sep 2012 20:36

Thanks for your replies.

The mobiles (dir + wfie/employee) are in the co name.

The amount varies too, from £684 one mlonth to £4.28 another month?

Still confused.....

 

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By Chris Smail
19th Sep 2012 00:27

Why don't you ask the previous accountant?

Dead? Mad? Unpaid?

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