Service charges are an issue for us, we have about 35 entities and we have tailored IRIS beautifully so will be a big factor when considering change.
Great answers - this thread is gold dust! Thanks all
Out of interest, why do you think the former client has approached you? Why did he become a former client?
Only became a former client because he sold his (successful) marketing company, had some time off and then went in to employment.
I would like to think he approached me because I previously gave him some good advice in relation to his business sale and he trusts that I have the right skills to help run his business. I may be wrong! ;)
As far as I understand it he is effectively acting as a broker in that he can source the advertising space through his contacts and sell it on to his employer who then sells it on again at a reasonable profit.
The space is in a sector of the industry that his employer doesn't currently operate in so they are happy with the arrangement. He wants to do it through a company as it may be something he can operate as a stand alone business in the future.
I need to probe some more and appreciate everyone's input!
I understand and appreciate the warnings but thankfully the activity is pretty low risk (I think?!) - buying and selling online advertising space.
I am probably being naive but I am not seeing huge risks ahead.
In terms of concealment of the truth, again I don't see this as being an issue - I don't think there is any duty to declare other interests to professional contacts or work colleagues?
I really appreciate the contributions as they do make you think!
I guess nominee may be the wrong term - I will have full control of the invoicing, bank account, payments to suppliers etc so will have some involvement, just not in the operational side.
I will obviously be acting in good faith throughout but need to be clear of the risks.
I originally received a response stating that they did not agree that the enquiry was out of time with a completely illogical reason.
Before I had the chance to reply, I received another letter accepting that the enquiry was out of time and apologising for the inconvenience.
Great, I will repost when I get a response from HMRC.
Can you direct me?
I like your rant! I have just gone on to do the same and almost posted word for word your original comment.
Can you let me know where they are if it's easy enough?
Back to original question
Ok so -
Motivational talks clearly subject to corporation tax
Donations from public for which no service is provided - not subject to CT
Fund raising events where the attendees buy tickets etc. and receive say a dinner in return - on the basis of everything I have read here and elsewhere these are taxable receipts?