UK Tax and Accounts Syndication http://www.uktaxandaccounts.com Mon, 28 May 2012 06:36:55 +0100 FeedCreator 1.7.3 http://www.uktaxandaccounts.com/images/ http://www.uktaxandaccounts.com UK Tax and Accounts Syndication http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=109&Itemid=126 A parent company must prepare group accounts in accordance with the requirements of CA2006 Schedule 399.The following companies are exempt from the requirement to prepare consolidated accounts:Companies subject to the small companies regimeCompanies included in the EEA accounts of a larger groupCompanies included in the non-EEA accounts of a larger groupCompanies with no subsidiaries that need to be included in the consolidationGroup accounts show the financial results of subsidiaries and assoc... Administrator Preparation of Accounts - Preparation of Accounts Sat, 30 Aug 2008 18:29:36 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=51&Itemid=60 The trial balance is a summary of all the transactions of the company for the accounting period, usually twelve months.  It is the key document that links all the records of the company to the accounts. To prepare one, download the extended trial balance (index.php/Preparation-of-Accounts/extendedtrialbalance.html) spreadsheet in the Preparation of Accounts section and edit the detail as applicable to your business.The trial balance can be prepared using spreadsheets or software packag... Administrator Preparation of Accounts - Preparation of Accounts Wed, 30 Jul 2008 11:31:34 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=97&Itemid=129 http://sheet.zoho.com/public/rgodlonton/extended-trial-balance-2View balance sheet in full screen (http://sheet.zoho.com/public/rgodlonton/extended-trial-balance-2)View balance sheet in HTML (http://sheet.zoho.com/public/rgodlonton/extended-trial-balance-2?mode=html) Administrator Preparation of Accounts - Preparation of Accounts Tue, 26 Aug 2008 20:24:54 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=99&Itemid=130 http://sheet.zoho.com/public/uktaxandaccounts/financial-statements-templateView spreadsheet in full screen (http://sheet.zoho.com/public/uktaxandaccounts/financial-statements-template)View spreadsheet in HTML (http://sheet.zoho.com/public/uktaxandaccounts/financial-statements-template?mode=html) Administrator Preparation of Accounts - Preparation of Accounts Wed, 27 Aug 2008 14:03:49 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=67&Itemid=106 The profit and loss account is a primary statement in the financial statements. It calculates profit or loss for a specified period. The profit or loss for the period is added to the accumulated profit or loss balance in the balance sheet. All the amounts in the profit and loss account are for a specified period such as twelve months. Because companies are able to change their year ends, they could have a shorter or longer period than twelve months, but no longer than 18 months in UK. The ... Administrator Preparation of Accounts - Preparation of Accounts Sun, 10 Aug 2008 11:20:56 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=102&Itemid=83 When using software to prepare general ledgers, a VAT code is attached to each transaction to tell the software how much VAT to record and to what general ledger code it should be sent.  VAT is recorded in a VAT control account.  All the debits and credits accumulate in the VAT control account and the balance is the amount owing to or receivable from HMRC.For example, a sales invoice of £100 is charged to a customer.  VAT of 17.5% is raised.  The total invoiced amount is £117.50.  To ... Administrator Tax - Tax Thu, 28 Aug 2008 15:10:59 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=63&Itemid=101 Trade debtors is the value of sales invoiced for which money is still owed to the business. Debtors are recorded in the balance sheet of the accounts as a current asset. The debtors control account in the balance sheet will be the net of all invoices to customers (debits) less the receipts from all customers (credits), and should always be a debit balance.Trade debtors control account is separated into individual accounts for each named trade debtor.  The list of amounts due from the sum of a... Administrator Preparation of Accounts - Preparation of Accounts Sat, 09 Aug 2008 22:33:47 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=98&Itemid=56 http://sheet.zoho.com/public/rgodlonton/banksummaryView spreadsheet in full screen (http://sheet.zoho.com/public/rgodlonton/banksummary)View spreadsheet in HTML (http://sheet.zoho.com/public/rgodlonton/banksummary?mode=html) Administrator Preparation of Accounts - Preparation of Accounts Tue, 26 Aug 2008 20:47:07 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=66&Itemid=105 Accrued expensesYou can deduct all expenses invoiced for the whole accounting period from sales. It will go towards reducing the tax liability calculated on taxable profit. If invoices have not been paid at the year end they will not be in the cashbook summary. Therefore, bring them into the accounts by making up a list of all unpaid invoices. Be careful of double counting invoices already included in trade creditors.The accounting entry is:Dr Expenses (profit and loss account)Cr Accruals (bal... Administrator Preparation of Accounts - Preparation of Accounts Sun, 10 Aug 2008 01:14:18 +0100 http://www.uktaxandaccounts.com/index.php?option=com_content&task=view&id=70&Itemid=111 The Companies Act 1985 contains standard formats for headings required in the primary statements of accounts, being the profit and loss account and balance sheet.There are different formats for large and small companies. The article tables the difference between the two.Small company formats are much easier to prepare, so use them where ever possible.This table highlights the differences between Schedule 4 and 8 of the Companies Act. Where a space is left blank, Schedule 4 headings are not requi... Administrator Preparation of Accounts - Preparation of Accounts Sun, 10 Aug 2008 20:39:02 +0100