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Company Accounts

  • Angel557
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17 Nov 07 #6899 by Angel557
Topic started by Angel557
Reading the ex's company accounts , i can't understand what all these facts and figures mean,

Profit on ordinary Activities ater taxation and Equity dividends paid is this what he paid himself from the company ?

What are Admininistrative expenses ?

  • Fiona
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19 Nov 07 #7074 by Fiona
Reply from Fiona
Don't know if this helps or muddies the water further;

Profit on ordinary Activities ater taxation - the excess of revenues over costs

Directors dividends - a tax efficient way for directors to pay themselves when there are sufficient cumulative profits after allowing for any corporation tax

Administrative expenses - the costs involved in bureaucratic tasks such as keeping records, billing, book keeping, word processing

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19 Nov 07 #7077 by Angel557
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He must be having a laugh £14,000 for expenses he does it all from his lap top and sends an invoice once a week 34 p stamp, he's a 1 man band , i used to do his book keeping before he got a pc i never even got 10p for doing it grrr.

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19 Nov 07 #7078 by Fiona
Reply from Fiona
It must be a top notch laptop then!:P

  • Mike789
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19 Nov 07 #7080 by Mike789
Reply from Mike789
In order to see what he is claiming for you need to see his profit and loss account. He is not required to file these at Com House.

Mike

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20 Nov 07 #7092 by Specialdad
Reply from Specialdad
It is best to grab hold of the sales figure and take off say 10% for expenses which is what the Revenue would allow under IR35 legislation.

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