Why do we have a tax system that means that we all spend (waste?) time having to look at these things?
Why can't we have a system where the rate of tax (and remember NI is a tax) is the same whether it is salary or dividend or whatever.
That would increase productivity
Why doesn't the employee get the bus (notional bus) on the days he/she goes to the client? And deduct the bus fare>
Or get a lift or perhaps hitch hike/
Every practice should have a fridge in which there are two bottles of chanpagne.
One for when you win a really good client and the other for when a really awful client goes away, or when you avoid a poetntilly disaterous one.
Even a notional fridge with notional champagne works.
" In principal these "expire" after 3 months". This is like passports - I have heard that if someone's passport expires you need to see a new one. This may be the rules but it is nonsense.
If I see your valid passport today and use that to confirm your ID the fact that it expires next year or whenever doesn't mean that you cease to be the person you were when it wa s valid. And the same is true with a utility bill.
Thanks for that
Q1 - Yes
Q2 - I know but that is what it says (it was 1955!). No auditor these days would do what it says. They would say this means “audit”.
Thanks Paul.
And my recollection is that when the 19?? CA removed the requirement for smaller companies the audit requirement continued IF the articles included an audit requirement.
And many companies with that requirement simply changed their articles.
But some didn't
My answers
There is an old joke about management consultants (or maybe it is lawyers).
They give you information that is wholly accurate and totally unhelpful.
Why do we have a tax system that means that we all spend (waste?) time having to look at these things?
Why can't we have a system where the rate of tax (and remember NI is a tax) is the same whether it is salary or dividend or whatever.
That would increase productivity
Why doesn't the employee get the bus (notional bus) on the days he/she goes to the client? And deduct the bus fare>
Or get a lift or perhaps hitch hike/
This link is to an ICAEW article headed "Chart of the Week" but there doesn't seem to be any chart!!
Every practice should have a fridge in which there are two bottles of chanpagne.
One for when you win a really good client and the other for when a really awful client goes away, or when you avoid a poetntilly disaterous one.
Even a notional fridge with notional champagne works.
Is the beneficial owner an oligarch?
" In principal these "expire" after 3 months". This is like passports - I have heard that if someone's passport expires you need to see a new one. This may be the rules but it is nonsense.
If I see your valid passport today and use that to confirm your ID the fact that it expires next year or whenever doesn't mean that you cease to be the person you were when it wa s valid. And the same is true with a utility bill.
1 true
2 not true
3 not that easy
4 I don’t know anything about football.
Thanks for that
Q1 - Yes
Q2 - I know but that is what it says (it was 1955!). No auditor these days would do what it says. They would say this means “audit”.
Thanks Paul.
And my recollection is that when the 19?? CA removed the requirement for smaller companies the audit requirement continued IF the articles included an audit requirement.
And many companies with that requirement simply changed their articles.
But some didn't