Member Since: 19th Nov 2003
20th Apr 2021
Just as an update - I am currently on a trial with Brightpay - so far I'm impressed. I am doing a parallel run with Sage and Brightpay this month. Ideally I'd like fully cloud based so with the thought that Brightpay are working on this then it seems a good fit. I will look at Moneysoft and QTEC potentially before making the final switch but it seems Brightpay is indeed probably the winner here!
30th Mar 2021
Thanks all. I will have a look at all of these options, obviously now is a good time to do it s0 that's my Easter weekend sorted!
1st Sep 2015
The client files the Annual Return himself and he said he made a mistake. The document does look authentic though not stamped by HMRC and no stamp duty paid
1st Sep 2015
He has taken over the Company and client base, it is an Event Management Company
31st Aug 2015
Basically he wanted to buy the Company so he paid the previous owner the £80,000 asking price from his Company so the money came direct from Bank account A to the previous owner of B. In his mind he was thinking it was a way of getting the money from his Company without paying tax after talking to his friend "down the pub"! He is actively trading now from Company B and has ceased trading from Company A just a few months ago. I have spoken to him and he just said he needed to act quickly and did so without thinking to check the implications with me first but gave me a pat on the back and said "I'm sure you can think of something!" grrr I have told him I'm an Accountant not a magician!
27th Mar 2015
Had the same problem
I had to disable my virus software and then the update installed ok ...
11th Jan 2015
Thanks - yes that is what I first thought until I reread RDR3 on HMRCs website - it is unclear as it says detailed guidance will be provided in due course but at the moment on Page 77 of the guidance it states Distributions from closely controlled companies "where you receive, or become entitled to, distributions from a UK or overseas company during a period of temporary non residence and the company is a close company and you are a material participator in the company at a point within the tax year of departure or previous three years then the distributions are charged to UK tax as if you received them in the period of your return" it goes on to say "if the distribution is a dividend, the charge does not apply to dividends that relate to trade profits that arose in the period of temporary non residence"
My client is sole director of the company and the company did not trade whilst he was away therefore it seems that he is liable to pay UK tax on this distribution as it is taken from profits that arose before he became non resident.
12th Dec 2013
Thanks for the comments. Just to update they are builders, the Company own the building and the garages. They have rented the garage to someone informally! They agreed a figure of £150 per month. They don't want to have to "lose face" and go back and say the rent is actually now £180 per month so are suggesting they do this in the next financial year. I have therefore told them that they have no choice but to treat that rent as £125 for last year and they will have to pay HMRC the VAT.
10th Dec 2013
ok - I'm not convinced as HMRC website states the following - the link is playing up for 742 as you stated but I have copied the bit that confuses me here:
"Garages or facilities specially designed for parking are standard-rated"
The fact that the garage is not rented as part of the tenancy agreement but to a completely different person seems to mean different treatment? or have I got completely the wrong end of the stick?
10th Dec 2013
I understood it that if the garage is rented to someone other than the tenant that VAT is chargeable?