We have a client who's year end is 31 January. For the year to 2012 they are showing profit of 300K and tax of around 100k.
A B & C own 1 share each in H Ltd which owns freehold property, indexed cost £350k MV £250k and 100% shares in T Ltd MV £450k which does the trading.
A company has one employee who has been on a number of overseas business trips to the Far East / America etc.
I am about to incorporate my business which has a net asset value of £20,000 approx plus goodwill valued at £50,000. The goodwill originally cost £1,000. The business has been trading 10 years.
I have just signed up two new clients (I am very new to practice) who are equal shareholders in a limited company. Both of the ladies are single parents with children and are claiming tax credits.
I’m wishing to advise a new client on the purchase of a green grocer and its premises.
Building to be purchased at £175k and business £25k.
I am confused on accounting for a secondhand car dealership. I am using Xero.
A client has been offered to do some work for a Ltd company, but he does not want his employer to know about it as it is likely to cause a bit of office politics among his colleagues.