Have you investigated Orchard funding or Premium credit? Clients pays over 6 months (with the addition of a small finance charge) and you get £600 within 21 days.
It needs recording as income in the P&L. It is an exceptional item, probably "super exceptional" requiring separate disclosure on the face of the P&L. Its non taxable. I believe it is only usual to make this write-off when the CVA has run full term.
...you'll be writing an expensive special report on this for the client, so might be worth paying for a bit of advice. Alternatively there is always the ICAEW or similar technical help desk. Does anyone remember Richard Barton's peerless technical advice invariably dispensed in a pithy and erudite fashion?
Ideal background as a contractor in SAP/change management consulting if that appeals? Day rates of £450 - £1,000 dependent on experience I would have thought. That's probably your most lucrative option.
The problem with regions (such as the North East) getting their own tax raising powers is the tax base would be too small, so it wouldn't work without a subsidy from a central pot. Also if broadly socialist governments in the north put up taxes it may well accelerate flight to the south, creating an even more lop sided country. So I could only imagine it working if the outlaying regions operated low tax regimes, which might upset Mr and Mrs Average in Basingstoke as they would be subsidizing Northern "layabouts". So, despite being a proud Yorkshireman, I am not in favour of regional government for England.
I think I looked at this many years ago. Apparently, self insuring and offering the cover to the client makes you an insurer and thereby requiring regulation.
My answers
I'll bite !
OK Portia Nina Levin - what is the other option?Reasonable result
Have you investigated Orchard funding or Premium credit? Clients pays over 6 months (with the addition of a small finance charge) and you get £600 within 21 days.
Income in the P & L
It needs recording as income in the P&L. It is an exceptional item, probably "super exceptional" requiring separate disclosure on the face of the P&L. Its non taxable. I believe it is only usual to make this write-off when the CVA has run full term.
One presumes...
...you'll be writing an expensive special report on this for the client, so might be worth paying for a bit of advice. Alternatively there is always the ICAEW or similar technical help desk. Does anyone remember Richard Barton's peerless technical advice invariably dispensed in a pithy and erudite fashion?
What about capital?
How will you split the capital value of the practice?
Contracting?
Ideal background as a contractor in SAP/change management consulting if that appeals? Day rates of £450 - £1,000 dependent on experience I would have thought. That's probably your most lucrative option.
DAFT ACCOUNTS
It has to be!
Regional government
The problem with regions (such as the North East) getting their own tax raising powers is the tax base would be too small, so it wouldn't work without a subsidy from a central pot. Also if broadly socialist governments in the north put up taxes it may well accelerate flight to the south, creating an even more lop sided country. So I could only imagine it working if the outlaying regions operated low tax regimes, which might upset Mr and Mrs Average in Basingstoke as they would be subsidizing Northern "layabouts". So, despite being a proud Yorkshireman, I am not in favour of regional government for England.
Yep - its illegal
Yep - its illegalThats what I had hoped...
That's what I had hoped, but no-one has raised their head above the parapet.