Hot accounting guides from Arnold Ayton at Spondoo.co.uk? You must choose at least one?Director?for your business.?Although not mandatory, some businesses also appoint a?Company?Secretary to?provide support in managing the?Director’s responsibilities.? A company?Director’s?core responsibilities?include:? Paying?corporation?tax on profits –?The?money the business accumulates from trading profits, investments,?and selling assets for more than they cost?is liable for?corporation tax (otherwise known as chargeable gains).? Informing Shareholders – if they?might personally benefit from a transaction the company has made.? Complying with the business’ written rules – including how the company should be run, agreed?upon?by the Shareholders or Guarantors, Directors,?and the Company Secretary (article of association rules). Filing the company’s accounts and returns.? Keeping the company records and reporting any changes.? It’s worth bearing in mind, a Director must be above sixteen years old and have no record of disqualification as a Company?Director.?On the other hand, a Company Secretary can be a Director but not?the?company’s Auditor. Should the?secretary?have been?discharged?on grounds of?bankruptcy in their past, they should seek court permission to practice.?Regardless of whether the business appoints a Secretary, is important to?remember that the Company Director is always legally responsible for the company.?

Arnold Ayton is qualified as a Chartered Accountant under the Association of Certified Chartered Accountants (ACCA), although I currently hold a practicing license under the Institute of Financial Accountants (IFA). Arnie was a delight to get started with, seeing as we had a very messy backlog of transactions and incorrect payroll when we were doing it in house. He and his team helped us straighten out our accounting basics last year, and this year he has helped us apply for significant VAT rebates and R&D tax credits. He has helped our team explore new financial opportunities and has connected us with advisors who have proven to be very helpful. He’s a very straight-talking and friendly individual who is easy to get along with, and is clearly committed to his business and clients.

Spondoo.co.uk bookkeeping tricks in 2021: You can claim food and drink during your travel only. For example, you can claim the cost of a sandwich at a petrol station on the motorway or an evening meal at a hotel. But you cannot claim the costs involved preparing a meal at home and then taking it with you on the business trip. Can you only claim food for overnight trips? Food expenses are not exclusively allowable on overnight business trips. You can claim food and drink expenses if the employee is working away from their habitual place of work, even if they do not stay overnight. The location must be at least five hours from their usual place of work. But remember, food and drink are only an allowable expense during the course of the journey. You will not be allowed to return home and then claim a meal on the evening of that same day.

Our accounting and bookkeeping packages include processing, preparation and filing of your VAT Returns to HM Revenue & Customs. You can find more information here (www.spondoo.co.uk)? This VAT Agent service focuses on organisations with increased complexity within their accounting processes. This could include overseas aspects, group registration for VAT, Making Tax Digital (MTD), multiple accounting systems or consolidated VAT Returns.

Spondoo.co.uk is made up of a team of Chartered and Certified Accountants and bookkeepers, supported by our in-house software developers. We have years of experience across the finance industry – including in payroll, financial services and pensions – as well as in-depth knowledge of all the software that you use every day to run your business. By registering above we will ask you some questions about your business and the services you need. These questions are designed to allow us to understand and estimate the time we will need to spend on your accounts, in addition any costs incurred on your behalf. Or to calculate a quick cost for your needs, follow the link to our instant quotation tool. We will not ask for your details.