Thanks, I have lodged an objection as I have got nothing to lose.
Nothing that sexyThe bookkeeper had been calculating the PAYE wrong & there is a significant repayment due. We corrected it in time for the p35 but HMRC demanded a long shopping list of information. My fight was I wanted them to open an official enquiry & I am hoping now that its out of time so we can claim the refund & move forward.
mn2taxhbj get your facts straight
The failure of the EBT in the Rangers case is due to the lack of discretionary payments. An EBT stands up to legislation prior to December 2010 if the payments are demonstrated to be discretionary. In the Rangers case the payments were written into player contracts & this is why the case is expected to fail.
Dmgbus why should fans pay more money in VAT. In my experience HMRC are very aggressive in collecting outstanding revenue so why are they not taking this stance with football clubs. Live reporting of PAYE will help as I would imagine this is where most clubs owe tax due to most posting a loss. This & insisting on monthly VAT reporting for any club in arrears would ensure that the clubs can not walk all over the rules. Another way would be to demand a SC60 style tax deduction on the television receipts whereby clubs use this tax credit against future PAYE liabilities.
When I qualified the final level had six papers from memory & I remember you had to sit & pass three at a time. I think the pass rate was 50% for each paper but if you failed one at a mark between 45 & 50 & passed the others at more than 60% you could resit the one you failed. From what I understand now you can elect which papers you take & pass one at a time. Cynically I would say it means ACCA get more members but in my opinion it devalues the qualification. However if I had the choice I would still take three at a time just to get them over with.
Good honest friendly service
We use ProTaxConsult. They always provide us with proactive advice in plain English. They are friendly and happy to chat through problems. I suggest that you look at the website www.protaxconsult.com
BNBI use a firm in Birmingham called BNB who offer a tax helpline. They charge a small monthly fee but are very good at explaining things much more easier than a book
I Know the feelingHi,
We use a firm based in Birmingham called BNB tax. They offer a phone line that you can ring for general advice for a small monthly subscription and also help on the complicated tax matters. I am going to one of their seminars next week so if you want any advie let them know. You will learn a lot and it keeps you far more up to date than any of the standard courses.If you want to give me a call my number is 01332 207336 or E-mail me on [email protected]
SorryI meant address these appeals
Double entry???I must admit I am confused but I would be grateful if you would give me the double entry. The client has bought back 49 shares from a director at a price of £70,000. My double entry was
Cr Cash 70,000
Dr CRR 70,000
Dr Share Capital 49
Cr CRR 49
I must admit I was unsure if this was right and was waiting for the partner to review it but as they are away for a fortnight and the client is breathing down my neck for the accounts I would like this to be right on the drafts.I would be grateful for any assistance in this matter
Mac restrictionThis is the only way to stop unauthorised access. A friend of mine spent a couple of hours at my brothers new flat and showed him he could use his neighbours internet for free whilst waiting for BT to install his.Not sure how he did it but it took two hours and my laptop. Opened my eyes to how sensitive data could be changed on a network