Member Since: 13th Apr 2014
25th Mar 2021
It is interesting to note that the purchase of a computer or smart phone is not normally allowable as a sole trader expense. The minuscule allowance granted £1.20 per week will not pay even internet access let alone a mobile phone contract
13th May 2020
HMRC have stated that under the furlough scheme they are income for tax purposes, and as such are taxable.
Are they also subject to VAT, do they include VAT?
27th Mar 2020
Just to be clear, if your business has rent for premises, leases for vehicles, and accountancy fees that need to be paid regularly. These are deductions from revenue to arrive at profit. How is this necessary expenditure funded?
By basing the package on profits it means that fixed costs are deducted from the amount payable.
24th Aug 2018
The question of motive is really important.
It may be that this accountant is acting under duress.
It is possible that he/she is being blackmailed into taking these actions.
That would explain the strange actions and his reluctance to attend the hearings.
19th Feb 2018
Why was the defendant CAM Ltd when it was the BBC who failed to deduct PAYE and NIC?
It's the BBC who should be paying the bill, and then trying to reclaim the money from CAM Ltd.
Then they would treat employment correctly, and send a message to other potential employers.
2nd Mar 2017
The excess of VAT will be taxed as profit at 20% corporation tax.
All that's happening is that Corporation tax is being renamed VAT.
Total waste of time, make things simpler for the trader and the tax man.
25th Nov 2016
Under the current system, the excess VAT benefit i.e. the difference between VAT charged in invoicing and the VAT reclaimed is subject to Corporation tax currently @ 20%
That is you either pay VAT or corporation tax.
All that's changed is there will be more VAT a less Corporation tax. I appreciate that CT is set to be reduced in the next few years.
The point of the flat rate was to reduce admin for both HMRC and the tax payer, all this does is to make it more expensive for both parties.
Complete waste of time and our money.
5th Jul 2015
Never mind the grammar
Companies House are still penalising companies for late filing, even if they are dormant.
I appealed the penalty, and was told they only accept exceptional circumstances i.e. a catastrophe just before the filling date. This is completely different to the approach from HMRC who seem to have the authority to make their own rules!!