Directors Mileage Allowance - Fuel paid on Company Credit Card
If a director with his own car claims mileage allowances for business travel but pays for his fuel on the company credit card am i right to assume that the fuel charge including VAT should be deducted from his allowance?
For the purposes of the company credit card should the fuel expense be put against his personal loan account as the whole amount incl VAT and a journal created between the mileage allowance & the loan account
Thanks
Mike
 
 
 


Can a single share be joinly owned by H and W?
Can a company with a single share be joinly owned by husband and wife and hence dividend declared on the single share split 50:50?
 
thanks


Norfolk Area CT Office
Anyone got any bright ideas on how to speak to someone at Norfolk Area CT Office, their phone is permanently engaged. My Birmingham based client was transferred there last year, and i am still waiting a reply to correspondence from May 2009, despite chasers. Tried sending a fax last week asking them to phone me within 7 days - no reponse. And if you look on HMRC website about making a complaint it says to deal with the Tax Office first - grrrrr!. Also there is no complaints "hotline" for corporation tax.


CIS applicable to solar installers?
 I have a new client who installs solar panels using sub-contractors. He is adament that CIS is not applicable but cannot find any guidance on HMRC website.
I would suggest solar panel installation could be classified as construction. I do not want some PAYE inspector making that ruling. So any advise or advise on where to look (been to HMRC website and lots on CIS but not who is considered a contractor in the building industry.)
Many thanks
 
 


New service for clients - dividend advice
I'm thinking of starting a new service for limited company clients who want to pay themselves dividends. The service will include all meetings and telephone calls to discuss dividend planning, as well as drafting of paperwork. I am proposing to bill this separately to the accounts, in the same way as we bill payroll separately, and was thinking of a few hundred pounds per annum for a typical client.
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Sage - Don't want it or like it... BUT
As a small practice I am using VT Transaction & Accounts which is great. Highly recommended.
I have never liked Sage and I particularly dislike the price. However...I'm getting a number of referrals and alot of them ask the dreaded question..."do you use Sage?"Now some aren't bothered at all but for others it is a stumbling block and it seems very odd to them that as accountants we don't use Sage.
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Will new laptops stimulate PC revival?
Like a fashionista during the big spring shows, John Stokdyk has been gallivanting around laptop suppliers of late and fingering their latest merchandise. While awed by the selection on offer, he wonders if the wider market will be get as excited.
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Is this just HMRC playing for time?
Client died January 2010.
HMRC require new 64-8 from personal representatives "before I can correspond with you further". Surely this is nonsense?
I have certainly never had this problem before, but I have only been in practice for 32 years.
 


Directors fuel
If a company director uses his personal car, can he claim back all petrol receipts or must he claim back business mileage at 40p per mile? Are there other options?


Hardware news:  Dell launches new Vostro laptops
Dell launches new Vostro laptops
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Another partnership tax question
Partnership profits say £100,000 - capital profit £40,000 and income profit £60,000.
Can profits be shared  - capital profits to partner A and income profits to patner B - answer YES
and would this sharing follow though to the tax so that A paid CGT on the capital gains and B paid IT on the income profits?
or would A have to have 40% of the gains and 40% of the income with B having the other 60% of both of them for tax purposes?


Contacting PAYE end of year offices
I have just been chasing up a letter sent to Norfolk Area End of Year section. During the last few year this work was transferred to Southend (Aleaxander House). They have advised me that all work has now been transferred to an Office called Employers Referral Team based in East Kilbride. The telephone No is the same as the General Employer Helpline.
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Overseas Client AML Advice
I have been approached by a UK based individual who has a power of attorney of a relative that is based and lives overseas, this person has never lived in the UK but owns land in the UK. The UK based realtive wants to set up a partnership between the overseas individual and a local property developer to build some properties on this land and to sell them on.
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Puchase of Dental Practice
Can anyone offer advice? I am preparing the accounts for a dentist who has just bought a incorporated practice. Sellers acccounts had Goodwill matched with Directors loan account - sale consideration details that the loan account was paid off by Client (new dentist) direct to practice and then shares transferred at nominal value. Will the loan account now just transfer to new client or wondering if this could be share premium instead?
Thanks.


Industrial and Provident Society - report (non-audit)
I ahve taken over acting for an I&P soc. the members have opted out of audit. I think the style of report on the previuos set of accounts is incorrect. Am I correct in saying that under £90K there is no stipulated report, so just use ICAEW approved small company report? Also if the T/O is over £90K, is the old style compilation report still the one to use? Many thanks.


Business IT Guide top technology trends
From previous articles on AccountingWEB, readers will be familiar with the free information the Business IT Guide provides on small business technology issues. Based on traffic and downloads from its website, the Business IT Guide team has put together a summary of the technology trends that every small business should keep an eye on in the next 12 months.
eReaders and tablet computers
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Collector of Taxes at Cumbernauld phone line problem?
I've tried phoning the Cumbernauld Collector (CT matters) for the past 2 months and the line is always engaged (01236 785057)  Is there some problem with it?  When you phone Shipley now you get an automated message telling you to ring th Cumbernauld number - its all pretty useless.
Anyone else had any problems?
I had to order a new CT61 today (on a different number 01236 785498) and got through to someone to order the form and on mentioning the problem with the other number was told serveral people had tried his number  hoping to be put through.


Mulit product break even analysis
Hi,
Does anyone know of any websites which provide excel templates for Multi-Product Breakeven analysis. There are a lot which provide single product templates. We have several thousand products once sizes are taken into account as it is a retail business. Thanks.


Why such patronising and rude replies?
This morning I have carried out my usual ritual of reviewing the latest 'any answers' section.  Having looked at some that I considered to have useful titles, I am shocked  yet again by some of the replies, yes you know who you are - it is always the same few!  
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Footballers' image rights
It seems that MU are under investigation by HMRC for the way in which the use of their players' image rights are taxed if the club itself uses them.
Can someone please explain how this use differs from use by any other marque that is not the player's employer.