Member Since: 4th Sep 2003
16th Aug 2013
has the letting business ceased?
Thank you taxwriter.
Yes, this is clients ownly property in her own right. However, she does have another property which is jointly let with her husband.
Can the interest and repairs that are incurred now the property is no longer rented be offset against the profits that have accrued so far in the tax year though? Property is being sold but this could take a few months to go through.
16th Mar 2012
Presumably this would not be a PILON if the wife had received correct notice of her redundancy?
10th Nov 2011
but what about the tax
Am considering upgrading my phone but wondered about the tax position. If I get the phone through my ltd company would I be caught for bik as hmrc do not view this as a simple phone.
What do others do? Ignore for bik on the basis that personal use is minimal?
6th Aug 2010
Thanks to you all
Many thanks to all of you who have replied with useful advice.
Mark, whilst looking into this I had already seen your articles on these schemes and found them very helpful.
16th Feb 2010
Thank you for your comments. That's helpful and re-assuring.
19th Nov 2008
spread initial fees over a shorter period
If the period end is close or already passed I spread initial fees over a shorter period, usually up to when I expect to complete the work. Then when after that the next years fees are divided by 12 to arrive at the new monthly payment.
1st Jun 2006
Thanks for your comment David.
I have already emailed Martin Pooley and he did not think any packages coped very well with TOMS. Looks as though most businesses have to do their returns manually mainly because of the need to use departure dates.
16th Jul 2004
we use Outlook
We use the task function on Outlook. When we send out a letter or mail we set up a task on outlook with a reminder set for a few days foward. When the reminder appears you can, if no reply has been received, record comments (e.g. sent follow up letter or phoned) until the action is complete.
16th Mar 2004
How have I been calculating VAT turnover.
Thanks David. I have been using the profit margin to calculate turnover after some great help from a TOMS expert at Bedford VAT Office.