Member Since: 25th Feb 2011
2nd Aug 2018
Very sad news - I enjoyed reading his posts. RIP.
27th Jun 2018
See Wanderer's link earlier in the thread.
I'd already read it, my point still stands. Employee elects to have strict basis (after I tell them it's an option), I complete P11D on strict basis - not sure what problem is with this. I've been doing it this way for DLAs in OMB companies for donkeys years.
27th Jun 2018
Not sure what you mean, it goes on both. I'm generally talking about OMBs so the director is instructing me as employer to complete the P11D and as individual to complete the SATR. Whilst completing the former, I would clearly give them the option to use strict basis, which they can elect to do so (as employee/director).
26th Jun 2018
If it's on a DLA, surely it is the employee (director) who is electing to use it? Or certainly could be if given the option.
We use IRIS and you can overwrite the figure to use the actual interest calculated.
11th Jun 2018
As above, however, on a recent claim, they asked for a copy of client bank statement as additional proof! We simply sent a redacted statement from our own account clearly detailing the receipt.
10th May 2018
Are you sure this is even in time? If it's for 5/4/2016 and you filed the Tax Return on time then the cut off for opening a S9A enquiry has long gone. Which only leaves them S29 discovery as an option so, no, they can't do a fishing expedition!
26th Apr 2018
Not if Tammie is only claiming partial relief for PPR. For instance, if it were only her PPR for part of the period of ownership.
Tammie, its all very well asking where to make the entry but do you actually know how to calculate your entitlement, including any claim for lettings relief. If not, I suggest you seek professional advice from a local accountant.
25th Apr 2018
What makes you think cash would be no gain/no loss? As it certainly wouldn't.
This is definitely one for your accountant!
23rd Mar 2018
Your 'last', by which I presume you mean current, accountant is correct - the loan has to be shown in the company accounts and the company has to pay the 32.5% tax charge (as you didn't repay within 9 months). Your company can reclaim this when you do the May 2018 accounts and CT Return. And yes, you need to revise your company 2016/2017 P11D and SATR - but surely your accountant can do this for you!
12th Mar 2018
Well that's ten minutes of my life I'll never get back!