Annual Accounts DL / Payslip Queury

[raymas]

Respected Forum Members

Iam quiet confused with the following , can senior members like ZImba,CR001 and the successful applicants answer to my query

1. Annual Accounts

I invested £50K in the final year, I have asked my accountant to add the point in the notes of the financial statement as UNAUDITED DL from XXX ,

Question: He mentioned the above in CREDITORS: AMOUNT FALLING DUE AFTER MORE THAN ONE YEAR
is this correct ? or it has to be in CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR the reason behind the confusion is the amount invested is less than a year .... Please clarify

2. Employment

I pay my employees on monthly basis , let me be more clear ( this employee was hired from oct2014-Mar2016) whose payrate is above the Minimum NI
The payslip shows as £900/month , Hourly rate of employee is £6.90 to claim this employee as full time I need to show him that he worked for 130hrs so it will be 6.90*130=897 (there is a difference of £3 with the payslip ) is this ok ?
or do I need to show the exact amount as it reflects on payslip

Appreciate if some one response to this ASAP

Thanks

[zimba]

1. Not important at all
2. You should show he worked 30 hours a week.
(No of weeks worked * 30 * hourly rate) >= (Total salary paid)

[Nana51113]

Hi Zimba,

Please i need your help to advice what should i do ?

1- I am on 50K route

2- I did transfer 56K pound from my personal account into my business account ( this is shown in the business bank statements)

3-My company accounts show that 58K has been invested by me to the company and the difference of 2K is the cost for running the business from my personal account (56K FROM PERSONAL ACCOUNT TO BUSINESS ACCOUNT + 2K THE COST OF RUNNING THE BUSINESS FROM MY PERSONAL ACCOUNT )

4- the company accounts does cover the period up to 9/2018 where the 58K has been invested

5- ON December 2018 i did transfer further money to the company from my personal account to the company account

4- My question is what about the director loan agreement should i cover the amount transferred in December OR NOT?

6- Should the loan agreement shows only the amount transferred from my personal account to the company in business statements (56K) or to cover the same amount mentioned in the company account prepared by the accountant which is 58K ???? (56K FROM PERSONAL ACCOUNT TO BUSINESS ACCOUNT + 2K THE COST OF RUNNING THE BUSINESS FROM MY PERSONAL ACCOUNT )

7- Could you please advice should my accountant show under other creditor the breakdown of the investment under my name like 56K from bank transfer and 2K from personal account for running the business ? or it is OK to show 58K as whole without explanation?

Please i need advice as really i feel confused

thank you all

[CR001]

Hi Zimba,

Please i need your help to advice what should i do ?

1- I am on 50K route

2- I did transfer 56K pound from my personal account into my business account ( this is shown in the business bank statements)

3-My company accounts show that 58K has been invested by me to the company and the difference of 2K is the cost for running the business from my personal account (56K FROM PERSONAL ACCOUNT TO BUSINESS ACCOUNT + 2K THE COST OF RUNNING THE BUSINESS FROM MY PERSONAL ACCOUNT )

4- the company accounts does cover the period up to 9/2018 where the 58K has been invested

5- ON December 2018 i did transfer further money to the company from my personal account to the company account

4- My question is what about the director loan agreement should i cover the amount transferred in December OR NOT?

6- Should the loan agreement shows only the amount transferred from my personal account to the company in business statements (56K) or to cover the same amount mentioned in the company account prepared by the accountant which is 58K ???? (56K FROM PERSONAL ACCOUNT TO BUSINESS ACCOUNT + 2K THE COST OF RUNNING THE BUSINESS FROM MY PERSONAL ACCOUNT )

7- Could you please advice should my accountant show under other creditor the breakdown of the investment under my name like 56K from bank transfer and 2K from personal account for running the business ? or it is OK to show 58K as whole without explanation?

Please i need advice as really i feel confused

thank you all

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