Probably not - and that would have been the easiest solution!
Yes I checked all that and it wasn't carried forward. The bf figs agreed with the payment made.
They arose due to over-payments to HMRC . One was because the SMP gave rise to a credit that month and weren't told they had to roll it forward.
But good question - the P & L figs for salaries would be based on the payroll figures (I hope) not the actual payments, but then I have no idea how the cash was reconciled.
Thanks. And yes you are right on that last point.
Thanks - 30 years of being and ACA and I am not here to be condescending in any way or to educate those who have worked in practice for years. Sorry if you had a bad day. Mine hasn't been great either but glad I have been a source of amusement.
I get what you are saying but they are not the company's until they are put through and there are no liabilities in the company's name
Not a client as yet but yes, I am a bit concerned. They are on the ball - work in financial services - so given the advice they had and that they wanted to press on based on that advice I didn't want to stop them. But as the company was set up last year, to put through the expenses next accounting year does not seem quite right. However there is no income as yet and no chance of any offset. So perhaps HMRC took that view.
So as an update to this, having met the prospective client last week, they informed me they had spoken to both Companies House and HMRC.
Companies House advise that the CS should add the code for a dormant company and that when the accounts where due, to file an AA02.
HMRC said they were dormant for CT and to notify when there is some income.
So they submitted the CS themselves, and as the year end approaches they are happy to hold off putting the expenses through the company until they have some income. The expenses are not insignificant (£20k inc legal fees) and there is a bank account, all of which both HMRC and CH were notified about. All names and dates were noted.
Thanks. Yes it’s going to take a fair bit of work.
How does one ever make any money when you spend so much time on correcting errors on something that should have been simple??!
Draining and quite patronising - he knew he was being unhelpful.