Member Since: 14th Jan 2012
31st Mar 2020
Thank you so much for your kindness here, it is hugely appreciated.
31st Mar 2020
Thank you Duggimon for taking the time to offer guidance. It is two businesses under one limited company, a separate limited company was set up for the farming business but accounting has not been done via that limited company.
The farming business has only ever incurred losses, its a long story as to why the client has been investing in starting up a farming business but its for his children as they are special needs and he wants for them to have a job. This is a very kind man and he may well be away from the fairies in what he is doing but his heart is in the right place so I am just trying to help, as opposed to judging him because everything isn't in order.
The small business rates may be an option, I can't carry the losses back as the trade of farming is different to the engineering business (very profitable).
I agree that working to look after the livestock is not covered by directors duties. I will get him to look at Universal Credit, his wife is claiming some sort of benefits but I don't know what and he doesn't either. He has learning needs and I just want to help him, rather than judge him.
Thanks again for your supportive reply.
30th Mar 2020
It is that, I put it through his self assessment for 2018-19, I intend to do a prior year adjustment to payroll year 2018-19. No PAYE or NI due. Its just late, but it won't be late for 2019-20 if I pull my socks up.
30th Mar 2020
Well Matrix, I was just going to post the whole salary as a one year payment. I have a few directors that take their whole £8k in the first or the last month. Would it still count as being for the full year and therefore should be prorated? He's had this business for years and the bookkeeper has never done it properly on the payroll. Its all been declared on his self assessment, just not put through RTI. Bl**dy bookkeeper!
23rd Jan 2017
Thanks possep, I will have a look in the morning.
18th Nov 2015
Death, Form 17 for rental properties jointly owned
Assuming that should husband and wife be tenants in common, say with 90/10% split for form 17 purposes and declaration of trust so that wife receives the bulk of the income, what happens if husband dies? Does his share go to his estate in 50/50 proportions (assuming that is how the property is held) or does 10% go to the estate?
I give this example as the husband and wife both have children (him two her one) from previous relationships, and their intention is for the estate to be split 50/50, so 50 going to hubbys two sons and 50% going to wifes daughter. As it is a blended family the 90/10 split is important.
In the same respect does the 90/10 rule apply should wife need to go into a home?
6th May 2015
Thanks Paul, you have helped by second guessing what I mean, sorry. The true problem is the definition of whether its a temporary workplace or primary, its only a six month contract through his service company. He's working sometimes in Slough and now sometimes in Milton keynes (which supports it being temporary) and comes home to Leicestershire every weekend. He commutes to Milton Keynes so that is probably his saving grace if it was ever disputed.
Thanks so much for your help, I'm a sole practioner so I dont have lots of contact with other accountants.
14th Jan 2012
Thanks Ding Dong, what a great idea. Why didn't I think of that? Blonde moment I think, thanks again. Lucy x