Many firms will provide a Christmas bonus to staff. Often this will be in cash which will be taxable and will normally be processed through the payroll. However, small, low value gifts of goods to employees will normally be tax free if they fall within the trivial...
I have always kept in touch with one of my old chums from university, Ian. Ian has built up a very successful business. It is very much a family concern, with the children and now young grandchildren becoming involved. The business is based in the North West. Ian...
In August, like many people of my age, I read, with some sadness, about the death of Gerd Müller, the legendary German striker. I always have that image of him hooking the ball past Peter Bonetti to knock us out of the 1970 World Cup quarter final. Müller was a...
“The figures don’t lie” is an established mantra for us Accountants and might generally be the case for a set of accounts, but interpretation of farm accounts can be deceptive. I reviewed a set of limited company farm accounts recently. On the face of it, to the...
When I discuss a set of financial statements with a business owner, an often uttered lament is “I have made this profit but where’s the cash gone?”. In days of your, it was a requirement that a set of financial statements would include a cash flow statement as an...
During my years of dealing with related businesses (majority being group companies) the concluding meeting point on finalising the end of year financial statements is sometimes ‘what management charges should we apply?’ To have this as a final adjustment within the...
