Ist yr ltd company pension scheme run through the company payroll. Contributions under £3 k at co. y/e.
Do I need to ask the client to obtain a fair current market value of the fund at the company year end?
If the answer is 'yes' then are tthe following the accounting entries?
Cr 'bank' /debit 'pensions' in the p & l account. (following Taxfiler headings.) If so, what do I do with the excess or deficit? Is the debit to p & l or to current assets and if so what do I name it? Thank you.