Meet Arnold Ayton and some of his accounting thoughts? 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.
Arnold Ayton bookkeeping recommendations 2021: Do I need to keep meal receipts? It’s solid business practice to record all food and drink expenses and retain the receipts of these expenses. You should also keep a record book of reasons the journeys took place, such as staff training, meetings, etc. And for assistance with your receipt management and bookkeeping, don’t forget that Spondoo Bookkeeping makes things simple! The golden rule when claiming business expenses is that the cost must be “wholly and exclusively” for business purposes. So, where do you stand when it comes to food and drink? After all, everyone needs these things to survive. When does it become an allowable expense? Read on to find out when your business can claim food and drink as an expense.
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. From setting up your emails to implementing on-site computer servers, our technology team helps Spondoo clients with their IT needs, so you can focus on running your business. For those individuals or business that have been mis-sold financial products, our claims management partner is here to help. Our claims management services are authorised and regulated by the Financial Conduct Authority (FCA) & the Ministry of Justice (MOJ).