Here's my problem. We have a small 4 person practice. we have 2 women, 2 men.
1 man director. 1 woman director. Both paid the same.
1 woman bookkeeper, one man, both same qualifications, both worked in trade similar time. Hes mid 50s shes early 30s. pay is exactly the same.
so from a pay gap view, we're spot on. yay.
But, he is miles better at his job. He's twice as quick, and his work is always immaculate. I've only ever found tiny errors, very rarely. He's excellent.
She is very slow, lot's of errors and if she doesn't know something, her attitude is just 'dunno.' He'll research it and sort it.
I want to double his pay, because he is totally worth it. But I can't. "same pay for same job". But it's not actually is it.
But if was the other way round, we'd be applauded for paying her more.
I want to pay based on quality. Not just because of which sex they are. To be blunt, I don't care if they're man or woman. I want the best person for the job. If that's a woman, great, if that's a bloke, great.
out of interest, are these "fines" by ACCA and ICAEW enforceable?
Out of interest, are ICAEW "Fines" enforceable (In law)?
Could not an ICEAW member just say "forget that" and walk away?
And the Costs always seem quite high?
Currently we use moneysoft, but it means keeping Parallels on the Mac all the time and it's a pain.
But something I do like about moneysoft is the Agent Batch Processing feature. I can add say 60 company payrolls that have the same info each month and process all of them in one go. That saves loads of time.
Do any of these online systems have this facility?
Tom 7000 wrote:
So, the value of Goodwill transferred by the Director from the previous S/T or Partnership no longer gets credited to his DLA but has to be capitalised instead?
I think the answer is No
I think it works like this....
lets say you incorporate the window cleaner
Dr Goodwill 10k
Cr DLA 10k
Goodwill goes in his tax return and is covered by 11k exemption - no tax
Goodwill is amortised in F/s but added back in tax comp like entertaining
Lets say its the local Engineering Established post 01/4/02- a firm with 6 employees and Gwill = 111k
Dr Goodwill 111k
Cr DLA £111k
Goodwill goes in his personal tax return net of £11k allowance and he pays CGT on 100k at 28% as he is a high rate tax payer already = £28k
Goodwill is amortised in the financial statements and its added back same as entertaining
Total cost £28k
Whereas before CGT was £10k and the £111k was tax deductable in the company saving £22k CT so overall you were £12k up!!
thats a £40k swing.
But someone correct me if they think this is wrong!
Ps I know someone who is now in tears as he was incorporating in the new year and the numbers were 5x bigger!
So, for smaller businesses it could be a case of "let's not bother with the goodwill". But, could this be a move by HMRC to now insist on goodwill valuations, so they can charge CGT on the seller with no CT claim in the company? (I haven't looked at this in detail yet, but) On the face of it this looks like not only taking away a claim on the CT but increaing/adding a charge on CGT; a double whammy.
£30000 in COSTS?!? How is that even fair / possible on a such a simple case?!?
Out of interest can this "fine" actually be enforced? If he decided not to pay it and left the institute can they pursue him for it??
Can icaew fines actually be enforced? could the member just resign (or be kicked out) and refuse to pay? Would icaew then have to take him to court for the fines/costs and would they win?
Out of interest are these fines enforceable? Sure you can kicked out of institute, But would they take you to court for the fine? Would they win?