DIY End of Year Accounts

[busgrw]

There's a guy called Alan @ BroomeAffinity who might be able to help [emoji6]

Brilliant, thanks.....do you have any contact details for him???

[Alan @ BroomeAffinity]

If yiu remove the spaces and add .com to his user name you'll get him.

[busgrw]

If yiu remove the spaces and add .com to his user name you'll get him.

like this - [email protected]



Only joking obviously. Will be in touch Alan.

Thanks

[pr1]

Equally you do need a proper accountant - who would have told you to borrow money from the bank for that car rather than using a directors loan. It would have been nearly as cheap and far less hassle....

Is that true? 2.5% interest paid back into your company (not "lost" to a bank)

Slight cashflow drop for the 25% temporary corporation tax but YourCo gets that back once it's paid up - can't see how it would have been "nearly as cheap"? - He'll have saved enough to pay his new accountant

[busgrw]

Is that true? 2.5% interest paid back into your company (not "lost" to a bank)

Slight cashflow drop for the 25% temporary corporation tax but YourCo gets that back once it's paid up - can't see how it would have been "nearly as cheap"? - He'll have saved enough to pay his new accountant

Thanks for that clarity as I understood there was a 25% temporary tax which I eventually got back. Worrying thing is that when I asked my accountant if this was true they said no but they'd check. Eventually came back and said "oh yeah, you're right".

Not only am I not paying interest to a bank, but the interest I would have normally paid on a bank loan i'm putting into a fund. Obviously this can go the other way but i'm hoping over the medium to long term that this investment pays for the depreciation on the car and the interest due to My company. Time will tell.

[busgrw]

Another quick question. In terms of time to complete my annual return and corp tax, i've got approx 9 months after my year end to submit anything to HMRC and CH don't I? So I have to time to look into all this given my end of year is 31/10?

Thanks

[northernladuk]

Thanks for that clarity as I understood there was a 25% temporary tax which I eventually got back. Worrying thing is that when I asked my accountant if this was true they said no but they'd check. Eventually came back and said "oh yeah, you're right".

Not only am I not paying interest to a bank, but the interest I would have normally paid on a bank loan i'm putting into a fund. Obviously this can go the other way but i'm hoping over the medium to long term that this investment pays for the depreciation on the car and the interest due to My company. Time will tell.

But you'll pay CT on the interest and then further tax as you take it out won't you?

[northernladuk]

Another quick question. In terms of time to complete my annual return and corp tax, i've got approx 9 months after my year end to submit anything to HMRC and CH don't I? So I have to time to look into all this given my end of year is 31/10?

Thanks

I'd ask my accountant Alan. I'm sure he'll tell you it's not approx...

[ladymuck]

Another quick question. In terms of time to complete my annual return and corp tax, i've got approx 9 months after my year end to submit anything to HMRC and CH don't I? So I have to time to look into all this given my end of year is 31/10?

Thanks

Yes, you have 9 months. However, the sooner you get your affairs in order, the sooner you know what your liability is and the longer you have time to save up (assuming you don't have a ring-fenced kitty you chuck money into on a regular basis) to pay the bill, which is due at the end of that 9 month period.

[pr1]

Yes, you have 9 months. However, the sooner you get your affairs in order, the sooner you know what your liability is and the longer you have time to save up (assuming you don't have a ring-fenced kitty you chuck money into on a regular basis) to pay the bill, which is due at the end of that 9 month period.

think annual return is due to CH sooner?