La BoIS Saint
Member Since: 17th Jan 2007
18th Jun 2014
... just how many NHS Primary Care Trusts are involved in drugs (the illegal kind, of course) and human trafficking?
It is likely that they would want the money repaid back
What is so difficult to understand in the phrase "our client was advised that repayment of the money was not required"?
At what level of authority can someone advise a company to keep money paid for services which were never delivered? I would want something in writing at the very least. The PCT (Primary Care Trust - a hospital?) is there to provide services to its patients. I'd be pretty hacked off if in my area a PCT (or whatever has replaced them, there must have been a transfer of funds) simply gave money away.
13th Mar 2013
Why on earth is anyone even thinking of including a deferred tax balance for a hundred quid! Costs more in accounting time than the provision!
9th Nov 2012
I can't believe that anyone would write Dear Sir when they know they are writing to a woman. It truly beggars belief even for the accountancy "profession".
8th Nov 2012
My four penn'orth
Amazing how so many people can have so many different ideas! A bit worrying really.
I have never known anything to cause so much confusion as HP v finance lease. I think it is because SSAP21 says to treat them the same even though they are different legally.
Point 1. Ignore anything the company selling this arrangement says. They have a vested interest in trying to persuade you of an advantageous tax treatment and you could hardly rely on them if it was queried by HMRC. Of course if you can get a guarantee from them that they would back up with cash it might be a different matter.
Point 2. From a purely substance over form point of view is this anything other than a loan with the assets held as security? I would be uncomfortable with recognising a gain on the sale of the assets when in reality nothing has changed. Is it even possible the finance company would remove the assets? If you take the view that the assets should be revalued then under FRS15? (sorry books not to hand) all other assets in the same class should be revalued.
From the info in the original post this is definitely not a finance lease, the whole point of a FL being that ownership stays with the leasing company.
19th Oct 2012
If title passed (to the company I assume) in Aug 12 then are you sure this isn't an HP agreement with CA implications? The whole point of FL arrangements is that title doesn't pass.
18th May 2012
Who are we working for?
Do you choose year ends to suit your own practice or to best meet the needs of the client? Surely the latter is the only ethical approach?
9th Mar 2012
Captainblack wrote:On the Gnome service presumably.
Borrowed from David Bowie?
2nd Mar 2012
I maybe similar to you. Single, middle aged and bored. Chucked job at the end of June and have been travelling since October. India, Nepal, India again, Thailand, Laos, Cambodia now Vietnam. Will then be heading to Malaysia, Singapore and Sri Lanka before heading back in April. Would particularly recommend Laos and Cambodia for a cheap laid back time.
4th Jul 2011
Consider how you would account in sterling
My suggestion would be to consider how you would account for it in sterling and then use appropriate f/x rates at relevant dates. I'm a little unclear as to the timeline. Has the same machine been sold twice?
1st Oct 2008
Red Tape Buster, the sanctions are that where a company and its officers are in default then on summary conviction they are liable to a fine not exceeding level 3 on the standard scale and a daily default fine not exceeding one tenth of that amount (according to Wikipedia that means a fine of up to £1,000).
As for who's checking...