Adding my support here too. I'm a Chartered Accountant with 24 years' experience, and have had my own practice for 17 years. I too have many very happy clients, many of whom have moved from shockingly bad accountants and are delighted with the service I provide.
But as a sole practitioner, there are queries from time to time where it is really helpful to bounce off other professionals to ensure that a proposed treatment is correct, or just to get some ideas. An issue that might be commonplace to some accountants might never have been encountered by others, and this is a great place to ask such questions, with many extremely helpful contributors happy to give a little time to explain things.
I generally find the Aweb forum a helpful and supportive place, but I do make an effort to pose my questions incredibly carefully (just as you have done) as some contributors do jump on anything which looks slightly wrong, and remarks can be cutting at times which certainly puts me off posting anything that might be seen as a "silly" question. You have to be quite thick-skinned to not be affected by some replies - I have had my own wakeful nights where I have worried about potential mistakes and how I have worded things!
As with catswhiskers, I'm always happy to take a PM if you have a question you're worried about sharing.
Agreed, single shares are a pain. Unfortunately this company was set up before my involvement, otherwise I would have recommended a much more divisible figure!
It wasn't known at first whether there was to be a 50/50 shareholding. If the shareholdings were to be unequal (for example 60/40 in favour of the Director A), this may have required a subdivision of the original share capital, as the issuance of one new share at par will always result in a 50/50 shareholding.
Thanks very much - I think that sounds like a good plan to issue a new share at par. It wasn't completely clear at first whether the existing shareholder wanted the shareholdings to be equal, in which case it may have been necessary to subdivide the shares, but actually they are going to have equal shareholdings, so issuing a new share at par would work well.
Just to update, I called the Employer Helpline about this query. They confirmed that it is possible to request in-year funding for a tax refund, and that I would need to write to:
Corporate Treasury HMRC BX9 1BG, clearly stating the employee(s) NI number, full name, pay period that the refund relates to and the company bank details, and clearly marking the letter "Funding Application for PAYE". Their suggested timescale was 3 weeks to process, with payment following within 7 days.
I have now written to HMRC and will update as to the outcome in due course.
That's helpful - although disappointing! Looks like the self assessment will be the only way to do it then. Hopefully at least it means that the client will be keen to get their self assessment documents to me promptly!
Thanks for all the replies! I have now entered all of the Nest pension details into Moneysoft, so that the small number of payrolls that I operate which have a Nest scheme can be submitted automatically in future. Hopefully this will be the end of the annoying 1p differences!
My answers
Thank you. I did think that might be the case.
Adding my support here too. I'm a Chartered Accountant with 24 years' experience, and have had my own practice for 17 years. I too have many very happy clients, many of whom have moved from shockingly bad accountants and are delighted with the service I provide.
But as a sole practitioner, there are queries from time to time where it is really helpful to bounce off other professionals to ensure that a proposed treatment is correct, or just to get some ideas. An issue that might be commonplace to some accountants might never have been encountered by others, and this is a great place to ask such questions, with many extremely helpful contributors happy to give a little time to explain things.
I generally find the Aweb forum a helpful and supportive place, but I do make an effort to pose my questions incredibly carefully (just as you have done) as some contributors do jump on anything which looks slightly wrong, and remarks can be cutting at times which certainly puts me off posting anything that might be seen as a "silly" question. You have to be quite thick-skinned to not be affected by some replies - I have had my own wakeful nights where I have worried about potential mistakes and how I have worded things!
As with catswhiskers, I'm always happy to take a PM if you have a question you're worried about sharing.
Agreed, single shares are a pain. Unfortunately this company was set up before my involvement, otherwise I would have recommended a much more divisible figure!
It wasn't known at first whether there was to be a 50/50 shareholding. If the shareholdings were to be unequal (for example 60/40 in favour of the Director A), this may have required a subdivision of the original share capital, as the issuance of one new share at par will always result in a 50/50 shareholding.
Thanks very much - I think that sounds like a good plan to issue a new share at par. It wasn't completely clear at first whether the existing shareholder wanted the shareholdings to be equal, in which case it may have been necessary to subdivide the shares, but actually they are going to have equal shareholdings, so issuing a new share at par would work well.
Just to update, I called the Employer Helpline about this query. They confirmed that it is possible to request in-year funding for a tax refund, and that I would need to write to:
Corporate Treasury HMRC BX9 1BG, clearly stating the employee(s) NI number, full name, pay period that the refund relates to and the company bank details, and clearly marking the letter "Funding Application for PAYE". Their suggested timescale was 3 weeks to process, with payment following within 7 days.
I have now written to HMRC and will update as to the outcome in due course.
Yes, could be that I guess. Bit odd though! I will ignore and assume it will work out eventually.
That's helpful - although disappointing! Looks like the self assessment will be the only way to do it then. Hopefully at least it means that the client will be keen to get their self assessment documents to me promptly!
Thanks for all the replies! I have now entered all of the Nest pension details into Moneysoft, so that the small number of payrolls that I operate which have a Nest scheme can be submitted automatically in future. Hopefully this will be the end of the annoying 1p differences!
True, but with only two such payrolls, with a couple of employees each, I've just never got round to it. I'll do it today!