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WEB2 days ago · Making tax digital. Making Tax Digital (MTD) is a UK government initiative to digitise the tax system. April 2022 saw the extension of MTD for VAT and April 2026 will see the implementation of MTD for income tax self assessment (MTD for ITSA) for landlords or the self-employed with turnover of at least £50,000. Guide. 25th Sep 2024. 23rd Sep 2024.
Any Answers | AccountingWEB
WEBStonewalling accountant ignored us for months, paid him and now he insists we owe more more money! Asked by. PrivComp. 27th Sep 2024 18:19. Business. 0. 13. 598.
Deferred tax: Get the details right - AccountingWEB
WEBDec 7, 2021 · FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland deals with deferred tax in Section 29 Income Tax.For micro-entities choosing to prepare financial statements under FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime, deferred tax is irrelevant.. FRS 102 requires deferred tax to be recognised on all timing differences that have ...
Related parties under FRS 102 - AccountingWEB
WEBJun 29, 2021 · The definition of a related party is set out in FRS 102, para 33.2 and is split into related parties that are natural persons and related parties that are entities as follows: A related party is a person or entity that is related to the entity that is preparing its financial statements (the reporting entity). is a member of the key management ...
Striking off a company: Get the details right | AccountingWEB
WEBMay 14, 2019 · The striking off regulations can be found under Companies Act 2006 (CA 2006) Part 31 -. “Dissolution and restoration to the register” which permits the striking off of a company in two specific instances: CA 2006 s1003 - gives the directors the right to apply. The majority of directors must agree to the closure.
Different types of company shares: A quick guide
WEBOct 14, 2022 · Redeemable shares. Redeemable shares allow companies the option to purchase them back in the future. Less commonly, shareholders can also sell them back to the company in certain circumstances. The redemption price is normally as the price at which the share was issued. Companies can only redeem shares out of the proceeds of a new share issue ...
HMRC clarifies tax on reimbursement of electric car charging
WEBOct 13, 2023 · by. Amy Good-Chin. Electric cars are becoming ever more popular, particularly as a company car where the tax benefits are attractive. However, there has been confusion and disagreement among advisers on whether HMRC guidance on businesses reimbursing their employees for the cost of charging a vehicle at home was correct. 13th Oct 2023.
CGT: Claim capital losses to use in future | AccountingWEB
WEBFeb 10, 2023 · Capital losses can be used to cushion the steep cuts in the CGT annual exemption from 6 April 2023 and again on 6 April 2024, but the losses must be claimed first. The CGT annual exemption operates in a similar fashion to the personal allowance for income tax: gains covered by the exemption are not …
FRS 102: Finance and operating leases - AccountingWEB
WEBMar 13, 2017 · Paragraph 20.9 of FRS 102 requires a lessee to recognise a finance lease in the balance sheet at an amount equivalent to the fair value of the leased asset or, if lower, the present value of the minimum lease payments determined at the start of the lease. Directly attributable costs (such as legal fees) associated with arranging the lease are ...
Making Tax Digital: How to set up agent services - AccountingWEB
WEBAug 29, 2018 · In the Agents Service Account; select the link “Allow this account to access existing client relationships”. Enter your User ID and Password (the old ones, not the new one created above) Enter your new ARN received in the last step in the agents services account setup. Enter your UTR or Corporation Tax Reference. Click Connect.