1st Year Newbie goes mad with money needs help

[NotAllThere]

but which is the best religion?

Yen Buddhism.

NotAllThere

[Flat Eric]

but which is the best religion?

Surely you mean capitalism...

[TheFaQQer]

Soprry if this is a silly question but isn't CT due 9 months after the year end?

Yes.

[FiveTimes]

Soprry if this is a silly question but isn't CT due 9 months after the year end?

That's correct, so there is a chance that the op can claw some of this back but saving more on the remainder of the contract. But it seems like they just see the balance in the account and just spend it regardless of whose it is.

[Number9]

That's correct, so there is a chance that the op can claw some of this back but saving more on the remainder of the contract. But it seems like they just see the balance in the account and just spend it regardless of whose it is.

Meaning ?

[ElectricChair]

Surely you mean capitalism...

according to Marx religion is what you place highest in life? Its that true then capitalism is a good answer.

[Pondlife]

Meaning ?

That the money in the business account isn't all theirs because some is due to the taxman. Because CT isn't due until 9 months after Co year end, if you have spent it you still have time to earn it over the coming months.

[Number9]

That the money in the business account isn't all theirs because some is due to the taxman. Because CT isn't due until 9 months after Co year end, if you have spent it you still have time to earn it over the coming months.

Yeah, silly way to do it though, I take roughly CT amount from each invoice and place this into a high interest account.......... it's the taxmans ! the rest is fair game though and I will tally up the rest at end year

[FiveTimes]

Yeah, silly way to do it though, I take roughly CT amount from each invoice and place this into a high interest account.......... it's the taxmans ! the rest is fair game though and I will tally up the rest at end year

How do "take" the CT from the account and place it in a high interest account ?
I thought most people with a business account also had a reasonably high paying reserve account for place such funds in.
Surely the money out of the account must be classed as either salary/divis/expenses ? I didn't think you could just take it out ??? But then again I might be wrong

[AZZIK]

All
Contracting Since Jan ( Limited Company)
Not paid any paye yet
Not paid any VAT yet
Spent a whole chunk of money
(transfers from business account to personal as and when needed)
Not done anything accoutancy wise

Now very worried about end of year
Head well and truly buried in sand

Will a good accountant be able to sort out the mess ?
Will the tax man be pi$$ed that I havent paid him owt yet ?
What about all the cash transfers ! ( hardly schduled dividends?)

What to do ?
HELP!

I think Mappy is just havin us on! He is bored and has probably thought of a subject everyone would reply to...If its true, then just go the taxman's office and just bend over!