Member Since: 26th Mar 2015
21st Apr 2020
Does not "the claim can only start from when the furlough is agreed with the employee" mean 'from the date that was agreed with the employee' rather than the actual date that the agreement was signed. It was always said that backdating would be allowed.
23rd Mar 2020
This is VAT. I don't think they can mean a Corporation Tax year. That would be too complicated, so 5th April (or 31st March?)
4th Mar 2019
While interesting, I don't feel the the debate on the merits of sect459 is relevant to the OP's question, to which John answered 'only IF there was a further loan by B ............', which there wasn't as far as we have been told.
The scenario put is surely just a case of a commercial loan between 2 limited companies - no participators are receiving a loan even if the companies have shareholders in common. Hopefully, appropriate Board minutes will have been written to document the company to company nature of the loan.
16th Jul 2018
I'm not familiar with either software, but it seems that you might be well advised to get the Parallel June Sage data from A and start from there, possibly re-submitting June using that if it has produced what are considered to be the correct figures.
If there are duplicate employees, IRIS may then need to re-submit with zero YTD's to get rid of them.
Above may be beyond the call of duty, but it may make it easier for you in the long run.
16th Jul 2018
Call it a contribution to the charity from you?
and nb, reclaim the vat?
9th Jul 2018
There seem to be 2 options with NEST that may help.
1 Use Salary Sacrifice, so that all contributions become 'Employer' and hence gross.
2 Mark the employee as a 'non-taxpayer'. Their contributions are then not grossed up and can be entered gross and deducted from gross pay for tax by the payroll system. I don't know if this is legitimate or if it would upset something else, but it seems to work. This ends up being another version of salary sacrifice. It depends which version the payroll system supports best.
12th Apr 2017
Maybe get them to press the right button and give you a VAT receipt showing how they are going to account for it. That's what you and hmrc really need to know.caspararemi wrote:
I found this thread googling for advice on accounting for supermarket food receipts.
Might be a dumb question ........ But i'm baffled about how to account for the discount on the total.
12th Apr 2017
Since Jan 2013 the £250 limit has been removed. At least that's what I read here:Kirkers wrote:
Euan is right, although the simplified invoices must be under £250.
24th Jan 2017
Other things you may need to think about are:
Does the company need the loan? Can it justify the cost to the shareholders? Would you charge interest if he was overdrawn - at what rate?
As to the rate, you can also start from the other end - what rate would he get if he did invest elsewhere?
HMRC's standard rate (currently 2.75%, I believe) is one few could argue with.
Then, it's not really an unsecured loan - so go somewhere in the middle. It all depends what you want to achieve.
26th Sep 2016
Though not an expert in HP, finance leases etc, I would have thought that you claim whatever it says on the VAT invoices that you (should) have been supplied with and it is down to the supplier to apply the appropriate allocations. That way HMRC get the same amounts returned by both sides of the agreement.
(much as jcace suggests).