Moneysoft - AccountingWEB
WEBPayroll Manager is a comprehensive, easy to use, HMRC recognised for 2019-20 RTI compliant payroll software package used by thousands of SME’s, agents, accountants and CIS Contractors across the UK. In the first 6 months of the tax year 2018-19, more than 1.5 million RTI submissions were successfully filed through our software.Features to support …
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 …
CIFAS markers: What they are and why they’re damaging
WEBJan 1, 2022 · CIFAS markers essentially act as warnings to other institutions about the risks relating to a specific individual or business. Non-business related CIFAS markers usually relate to ‘First Party Fraud’ and ‘Application Fraud’. Finding yourself slapped with a CIFAS marker - whether privately or as a business - is bad news.
Time to focus on the associated company rules - AccountingWEB
WEBMar 10, 2023 · From 1 April, the corporation tax rate a company pays in any accounting period will depend on its profits as follows: below £50,000 – small profits rate of 19%. above £250,000 – main rate of 25%. between £50,000 and £250,000 – main rate of 25% less marginal relief. These limits are much lower than they were in 2014/15 (when they were ...
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.
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 ...
FRS 102 vs FRS 105: Which one should I use? - AccountingWEB
WEBSep 28, 2021 · On the software we use the FRS 105 accounts are more readily understood by the average client than the page after page of irrelevant nothings and notes that 102 produces. Most small businesses are looking to follow and understand the inportant figures on the P & L and balance sheet. A four year summary is even better.
Property valuations under FRS 102 - AccountingWEB
WEBJun 17, 2019 · Owner-occupied property is accounted for under FRS 102, Section 17. Section 17 allows an entity to use the revaluation model for assets, but where the entity does apply the revaluation model to an asset it must revalue all assets within that asset class. The entity cannot just revalue those assets in the class which have increased in …
Grant accounting: What you need to know | AccountingWEB
WEBMay 1, 2012 · You must be extremely careful with the accounting treatment here - particularly for limited companies. Consider the following illustration: Figure 1. An incorporated company purchases a fixed asset for £60,000 cash and receives a government grant towards the cost of this asset for £20,000. The useful economic life of the fixed …
Share Capital Double Entry - AccountingWEB
WEBFeb 15, 2013 · The situation is one company has increased their share capital from MYR1.00 to MYR80,000.00. the company has two directors and the company has a debt with the two directors, let say Director A = MYR24,000.00 & Director B MYR7,600.00. Plus, the company also has debts with creditors which is amounting to MYR48,860.00.
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