Member Since: 14th Jul 2014
3rd Jul 2020
Apologies if I misunderstood, but you need to phone HMRC and ask them to change their period of account on their records so it aligns with the company year end. I'm pretty sure there is no option to change it on the digital tax account.
15th Jun 2020
I think the first question was what is the reason for the credit note, and also which entity agreed to have work performed?
If it was genuinely billed to an incorrect entity the correct procedure is to credit note the old entity and reissue an invoice to new entity at today's date. You should not need to backdate these.
Otherwise why have they asked to rebill to a different entity?
13th Jun 2020
It's definitely a car and a terrible one. Why do people insist with Land Rovers inspite of their terrible reliability record.
More information here what defines a car:
9th Jun 2020
Careful - if the OP is going to be running the day to day business at a very high level without being a director, they could be seen as a "shadow director". Incase things go [***] up (e.g. insolvency) - things could get tricky.
27th May 2020
I would absolutely move if you are being paid that salary.
26th May 2020
I would think you need to approach this from a legal perspective as others have commented above. A resolution (within the constitution rules) could suffice on changing the mandate, but there could be objectitions within the rules which need to be looked at.
15th Apr 2020
You would not credit note. The revenue is just - the supply presumably took place.
Journal entry for the actual bad debt would be:
Dr Bad Debt
CR Accounts Receivable
In Xero you would do a payment on the invoice on the bad debt account and that journal will be done. You may need to enable payments to that account in the chart of accounts. Papa has provided a good overview on the VAT implications for recovering the input tax.
For the provisions your journal entry seems correct to release the existing provision.
15th Apr 2020
Cant the employer try to get a loan in the meantime?
1st Apr 2020
Is there a reason why the invoices were not paid?
6th Mar 2020
From an employee point of view I'm not sure I would want to work for a company who cannot provide basic computer equipment, irrelevant of the fact if I have a personal laptop.
From a company point of view I guess you dont have to give them a macbook but surely other basic laptops are acceptable? If they kick up a fuss then they are clearly not a good fit.
If an employee leaves then they simply hand back the company onwed laptop ready for the next employee. I cant stress how important that company sensitive data should not be used on personal laptops!