Thanks Paul. I think I am getting the point now as the sales commission is payable even if the customer cancels the contract. Would it be correct per the standard to apply the employers NI on the commission as well ?
One important aspect I have learnt with new clients is client behaviour and attitude. I ask myself is that a type of client I want to do business with and are they transparent.. You have to think do I want to work for such clients that maybe economical with the truth at times. Trust is important in any relationship. Can you trust them ?
Any hint of dishonesty I would know they will probably be trouble in the short and long term and better to make your excuses and exit.
I think this client is looking for a dodgy accountant who can manipulate the tax payable (which there are many that would) and wouldn't be surprised in future if they conceal some information from you to suit their requirements or maybe find someone else that can do what they say.
Well spotted but its a different case. Basically since there is no tie breaker i.e Place of Effective Management in the US-UK DTA. The UK company is taxed based on place of incorporation being UK ?
They find it easier to conduct business through a UK company and UK bank account. Their UK clients had requested they setup a UK company before trading with them.
I only have one pub client really nice couple. I had encouraged them to move the payroll monthly and trained them to run the payroll themselves. Its not that difficult with software and just on hand in case of difficulties.
Only slight issue complication maybe with the VAT with the temporary 5% vat on food if systems not in place to split the 20% and 5% vat as well as 0% on some snacks.
Accountingweb Administrators should intervene and tell Vik to poat off. Sorry but such complex questions get my goat and we are talking about large sums of money. OP cannot be bothered to speak to an expert on the matter and blames Covid-19 which is a joke but we know it’s just to save money. How can someone say for definite if it is under Poat or not without go through ALL the details
You don’t deserve a response from anyone after being so rude and demanding from Matrix. What you are trying to do is complex and you have to take professional advice
Intuit introduce these new gimmicks just simply to tick the box that they have a mileage or receipt capture app in place when in reality they very basic versions. We use Triplog mileage that integrates with Quickbooks and Xero, its got a great Accountant's portal and automatically posts journal to Quickbooks or Xero.
Its the greatest giveaway ever. I would rather government gave free money to those who really need it. I am annoyed and angry no controls whatsoever are in place.
Do banks check if the directors are based in UK ?
I have a client who has a strike off notice against his company. I will be interested to know if the bank will check this
No doubt tax payers mainly the poor will end up paying for this for years in come in higher Tax and NI when there will be many business owners that will do very well out of this with other handouts too. Some unscrupulous individuals will take the money and run. I understand there are no restrictions what the director can do with the money ?
My answers
Thanks Paul. I think I am getting the point now as the sales commission is payable even if the customer cancels the contract. Would it be correct per the standard to apply the employers NI on the commission as well ?
One important aspect I have learnt with new clients is client behaviour and attitude. I ask myself is that a type of client I want to do business with and are they transparent.. You have to think do I want to work for such clients that maybe economical with the truth at times. Trust is important in any relationship. Can you trust them ?
Any hint of dishonesty I would know they will probably be trouble in the short and long term and better to make your excuses and exit.
I think this client is looking for a dodgy accountant who can manipulate the tax payable (which there are many that would) and wouldn't be surprised in future if they conceal some information from you to suit their requirements or maybe find someone else that can do what they say.
Well spotted but its a different case. Basically since there is no tie breaker i.e Place of Effective Management in the US-UK DTA. The UK company is taxed based on place of incorporation being UK ?
They find it easier to conduct business through a UK company and UK bank account. Their UK clients had requested they setup a UK company before trading with them.
I only have one pub client really nice couple. I had encouraged them to move the payroll monthly and trained them to run the payroll themselves. Its not that difficult with software and just on hand in case of difficulties.
Only slight issue complication maybe with the VAT with the temporary 5% vat on food if systems not in place to split the 20% and 5% vat as well as 0% on some snacks.
Do you really want to sell or maybe look into how to make your practice more efficient ?
There are many accountancy brokers out there who can help you sell a block of fees.
Accountingweb Administrators should intervene and tell Vik to poat off. Sorry but such complex questions get my goat and we are talking about large sums of money. OP cannot be bothered to speak to an expert on the matter and blames Covid-19 which is a joke but we know it’s just to save money. How can someone say for definite if it is under Poat or not without go through ALL the details
You don’t deserve a response from anyone after being so rude and demanding from Matrix. What you are trying to do is complex and you have to take professional advice
Intuit introduce these new gimmicks just simply to tick the box that they have a mileage or receipt capture app in place when in reality they very basic versions. We use Triplog mileage that integrates with Quickbooks and Xero, its got a great Accountant's portal and automatically posts journal to Quickbooks or Xero.
Its the greatest giveaway ever. I would rather government gave free money to those who really need it. I am annoyed and angry no controls whatsoever are in place.
Do banks check if the directors are based in UK ?
I have a client who has a strike off notice against his company. I will be interested to know if the bank will check this
No doubt tax payers mainly the poor will end up paying for this for years in come in higher Tax and NI when there will be many business owners that will do very well out of this with other handouts too. Some unscrupulous individuals will take the money and run. I understand there are no restrictions what the director can do with the money ?