Any designated member can sign the accounts. As I understand it there must be more than one.
I asked a solicitor about LPAs and company directors and he was of the firm view that one needs special powers with the LPA or a separate LPA for the attorney to sign or act as the director. Akin to trustees and delegation of powers
I would suggest that you could do better at charging for a job. Hourly sounds nice but you cant agree up front and that's where the problem arises. "How much"
I would suggest you specify what you will do for each new client and also tell them what you expect from them. Finally put a further note that if the client does not follow your expectations that the fee will go up and when you are in that situation you stop and agree the increased fee. Otherwise you will be working overnight to meet deadlines and have poor payers. Get a monthly payment on each job
Jennifer Addams raises a valid point one of my clients registered a company building houses. Then got a letter from a Racecourse suggesting that they were using abusing the use of "their" name. Despite being in different parts of the country. I suspect if the case went to court the Judge would throw it out with costs.
My company trades as Bourne Accountancy named after local river. There is a town in Herts called Bourne and from time to time we get calls for accounting services in this town. We very kindly tell the caller that we are near Gatwick and that stops the conversation.
Can I suggest that you contact the Sheffield firm and tell them that you both trade under the same name and that you have no interest in using their good name to promote your business. You may find that get get a nice reply or even a reciprocal agreement so that you refer Sheffield and area clients to them and they send London ones to you.
Why is so much effort being expended on such a small sum. The £50 limit is the start, exceed this and its all taxable. Although if items given in different months ......
Most employers have a rule about things like this but dont publish them so I vote for £50 covered by the exemption. Above this and Taxable on the lot, if a basic rate taxpayer still the tax is going to be £20 or less.
Thank you for raising this. I dont agree with PeteStar. In my view he in the sales process so therefore can not be furloughed.
If the Guy looked for new work only on Monday then I think this could be a part-time furlough.
The education sector is an area that part time furlough may work. Not teachers but ancillary services too - eg assessments for extra support to those with say ADND.
It makes good sense to extend by 3 months otherwise Cos Hse would have many appeals against penalties raised and that would mean a lot of unnecessary work
Does the employee realise that he can claim capital allowances on the equipment. I would suggest that if he charges a rent equivalent to that charged by an outside organisation there would be no employee benefit. Just like a room in a house used for business purposes.
If you want more help I suggest you advise us of the cost of the kit. The amounts involved. What is the employee going to use the equipment for apart from the charity. We can then give you more pointers.
What ever you decide make sure that it is put in writing in case HMRC come calling. They are going to have a similar problem if they want to suggest the arrangement is taxable.
I think you have to be realistic. What amount of tax are you considering if less than say £200 why not include the trading in the current accounts. The Corp Tax rate is still 19% .
HMRC wont thank you for all the extra work it has to do for such a small amount. To cover yourself I would write to corp Tax office and give them the story and advise how you have fixed it.
My answers
Any designated member can sign the accounts. As I understand it there must be more than one.
I asked a solicitor about LPAs and company directors and he was of the firm view that one needs special powers with the LPA or a separate LPA for the attorney to sign or act as the director. Akin to trustees and delegation of powers
I would suggest that you could do better at charging for a job. Hourly sounds nice but you cant agree up front and that's where the problem arises. "How much"
I would suggest you specify what you will do for each new client and also tell them what you expect from them. Finally put a further note that if the client does not follow your expectations that the fee will go up and when you are in that situation you stop and agree the increased fee. Otherwise you will be working overnight to meet deadlines and have poor payers. Get a monthly payment on each job
Thanks to David Winch for again clarifying
Here is my experience.
Jennifer Addams raises a valid point one of my clients registered a company building houses. Then got a letter from a Racecourse suggesting that they were using abusing the use of "their" name. Despite being in different parts of the country. I suspect if the case went to court the Judge would throw it out with costs.
My company trades as Bourne Accountancy named after local river. There is a town in Herts called Bourne and from time to time we get calls for accounting services in this town. We very kindly tell the caller that we are near Gatwick and that stops the conversation.
Can I suggest that you contact the Sheffield firm and tell them that you both trade under the same name and that you have no interest in using their good name to promote your business. You may find that get get a nice reply or even a reciprocal agreement so that you refer Sheffield and area clients to them and they send London ones to you.
Why is so much effort being expended on such a small sum. The £50 limit is the start, exceed this and its all taxable. Although if items given in different months ......
Most employers have a rule about things like this but dont publish them so I vote for £50 covered by the exemption. Above this and Taxable on the lot, if a basic rate taxpayer still the tax is going to be £20 or less.
Thank you for raising this. I dont agree with PeteStar. In my view he in the sales process so therefore can not be furloughed.
If the Guy looked for new work only on Monday then I think this could be a part-time furlough.
The education sector is an area that part time furlough may work. Not teachers but ancillary services too - eg assessments for extra support to those with say ADND.
It makes good sense to extend by 3 months otherwise Cos Hse would have many appeals against penalties raised and that would mean a lot of unnecessary work
@Southwestbeancounter
Turn on your out of office function on your email and insert something like the following
Just to let you know I received your email. I will get back to you as soon as I can Thank you
Does the employee realise that he can claim capital allowances on the equipment. I would suggest that if he charges a rent equivalent to that charged by an outside organisation there would be no employee benefit. Just like a room in a house used for business purposes.
If you want more help I suggest you advise us of the cost of the kit. The amounts involved. What is the employee going to use the equipment for apart from the charity. We can then give you more pointers.
What ever you decide make sure that it is put in writing in case HMRC come calling. They are going to have a similar problem if they want to suggest the arrangement is taxable.
I think you have to be realistic. What amount of tax are you considering if less than say £200 why not include the trading in the current accounts. The Corp Tax rate is still 19% .
HMRC wont thank you for all the extra work it has to do for such a small amount. To cover yourself I would write to corp Tax office and give them the story and advise how you have fixed it.