Jump to content

  • Tweets

  • Posts

    • Sorry, but we need to see the entire claim form in PDF. Scanned. I'm particularly interested to see the description of the parties.
    • and here is the Hermes response:   Intention I intend to defend all of this claim   Signed I am the Defendant REDACTED Hermes Legal Department 19/10/2020
    • Here is my claim:   Particulars of Claim I posted the Item at a collection point which I was provided the following tracking number: REDACTED The tracking did not update past the point it was collected from this shop, and I had flagged this up from the 6th. PackLink have offered compensation amounting to £25 which I have refused. They do agree that the parcel is indeed lost, but are not willing to payout the value of which the item sold for. PackLink have refunded me the cost of the label which amounted to £7.08 There is a packlink reference number for this case, which is: REDACTED In essence, PackLink admit they are at fault, but are not willing to compensate me for the full value of the item at its sold price. I will provide the defendant with separate detailed particulars within 14 days after service of the claim form.   Details of claim Amount claimed£1,490.00 Court fee£70.00 Total amount£1,560.00
    • Thanks for your reply, yes they got the items back undamaged.    The police got of to sign the recorded warning but the man in tesco didn't have me sign anything, he just took my name and address,  didn't ask any other questions or say anything about a "fine"   Was just a one off.  I had just lost and buried my 21 year old nephew.  So really wasn't in right frame of mind. Deffo wont be doing that again.  Nearly 30, with a clean record up till now so was a big shock for some stupid items that I had the money to actually pay for.     I'm currently in the processes of being refereed to a therapist. To try and help.    I'll make sure that I update this if I recieve any more letters from them and I'll make sure to keep them. 
    • As you are not out of pocket, I think I would do nothing about the breach of data protection regulations – but simply store it up so that if they come back at you, then you can raise the issue and challenge them. Did you get any information about inspections et cetera? You received a response to one SAR. What did that produce?
  • Our picks

    • Hermes lost parcel.. Read more at https://www.consumeractiongroup.co.uk/topic/422615-hermes-lost-parcel/
      • 49 replies
    • Oven repair. https://www.consumeractiongroup.co.uk/topic/427690-oven-repair/&do=findComment&comment=5073391
      • 49 replies
    • I came across this discussion recently and just wanted to give my experience of A Shade Greener that may help others regarding their boiler finance agreement.
       
      We had a 10yr  finance contract for a boiler fitted July 2015.
       
      After a summer of discontent with ASG I discovered that if you have paid HALF the agreement or more you can legally return the boiler to them at no cost to yourself. I've just returned mine the feeling is liberating.
       
      It all started mid summer during lockdown when they refused to service our boiler because we didn't have a loft ladder or flooring installed despite the fact AS installed the boiler. and had previosuly serviced it without issue for 4yrs. After consulting with an independent installer I was informed that if this was the case then ASG had breached building regulations,  this was duly reported to Gas Safe to investigate and even then ASG refused to accept blame and repeatedly said it was my problem. Anyway Gas Safe found them in breach of building regs and a compromise was reached.
       
      A month later and ASG attended to service our boiler but in the process left the boiler unusuable as it kept losing pressure not to mention they had damaged the filling loop in the process which they said was my responsibilty not theres and would charge me to repair, so generous of them! Soon after reporting the fault I got a letter stating it was time we arranged a powerflush on our heating system which they make you do after 5 years even though there's nothing in the contract that states this. Coincidence?
       
      After a few heated exchanges with ASG (pardon the pun) I decided to pull the plug and cancel our agreement.
       
      The boiler was removed and replaced by a reputable installer,  and the old boiler was returned to ASG thus ending our contract with them. What's mad is I saved in excess of £1000 in the long run and got a new boiler with a brand new 12yr warranty. 
       
      You only have to look at TrustPilot to get an idea of what this company is like.
       
        • Thanks
      • 3 replies
    • Dazza a few months ago I discovered a good friend of mine who had ten debts with cards and catalogues which he was slavishly paying off at detriment to his own family quality of life, and I mean hardship, not just absence of second holidays or flat screen TV's.
       
      I wrote to all his creditors asking for supporting documents and not one could provide any material that would allow them to enforce the debt.
       
      As a result he stopped paying and they have been unable to do anything, one even admitted it was unenforceable.
       
      If circumstances have got to the point where you are finding it unmanageable you must ask yourself why you feel the need to pay.  I guarantee you that these companies have built bad debt into their business model and no one over there is losing any sleep over your debt to them!  They will see you as a victim and cash cow and they will be reluctant to discuss final offers, only ways to keep you paying with threats of court action or seizing your assets if you have any.
       
      They are not your friends and you owe them no loyalty or moral duty, that must remain only for yourself and your family.
       
      If it was me I would send them all a CCA request.   I would bet that not one will provide the correct response and you can quite legally stop paying them until such time as they do provide a response.   Even when they do you should check back here as they mostly send dodgy photo copies or generic rubbish that has no connection with your supposed debt.
       
      The money you are paying them should, as far as you are able, be put to a savings account for yourself and as a means of paying of one of these fleecers should they ever manage to get to to the point of a successful court judgement.  After six years they will not be able to start court action and that money will then become yours.
       
      They will of course pursue you for the funds and pass your file around various departments of their business and out to third parties.
       
      Your response is that you should treat it as a hobby.  I have numerous files of correspondence each faithfully organised showing the various letters from different DCA;s , solicitors etc with a mix of threats, inducements and offers.   It is like my stamp collection and I show it to anyone who is interested!
        • Thanks
        • Like

opening/closing stock records


Please note that this topic has not had any new posts for the last 1291 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi Josh,

 

If you intend to consult a tax specialist, NOW is the time to do it so you can tell them about the stock purchase error. They will advise you how to proceed.

 

If you do NOT intend to use a specialist, your next job is to write to HMRC asap.

 

Tell us your intention so we can draft a letter for you if necessary. It's v important that you tell HMRC before they spot the error and come to you about it.

 

Also, please tell us any reason you have for this error being made so we can include this if necessary.

 

:-)

 

Hi

 

i have reordered a setup of bank statements from my bank to double check this again, when this payment went out.

 

from what i can remember it was just over my accounting period possibly 14th april.

 

if this is the case, it would bring my profit figure higher although below the peronal tax allowance so no tax would be due but i would probably be facing a penalty? is this right?

Link to post
Share on other sites
  • Replies 84
  • Created
  • Last Reply

Top Posters In This Topic

I still believe that no accountant would advise you as claimed so i take this as a simple misunderstanding. You should perhaps let the person know about this and your efforts to try and recify the known errors (get your 2016/17 figures done so the 2 years can be looked at together.) and do a stocktake and chaeck that against your purchase invoices and sales. They will be quite accepting if things actually add up at some point that can be clearly identified.

 

this is the advice given by several accountants i have asked. not just one.

 

you declare it as an expense in one year, if some of that stock is left over and sold in following tax year you cant declare it again as its already been accounted for, i still have this stock in hand....which will be sold off in the following year affecting my revenue and profits in that year....it will eventually balance it self out in the end and i will be paying the right amount of tax i need to on my profits.

Link to post
Share on other sites

I don't know why Ericsbrother is still talking about a stocktake. The only issue is that you may have claimed an expense in 2015/16 when it was actually incurred in 2016/17.

 

I also take issue with the comments, "You should perhaps let the person know about this and your efforts to try and rectify the known errors ........ " The error HAS to be declared asap !!

 

Hi Josh,

 

Please confirm the approx net profit reported to HMRC in your return to 5th April 2016.

 

Please also confirm if your business accounts are made up to 5th April each year, or a different date.

 

Too early yet to discuss any possible penalty HMRC may seek to charge. However, if you do not owe any tax in 2015/16 AFTER taking off the £1,900 wrongly claimed, that will likely be in your favour.

 

I want you to do whatever you need ASAP, to get confirmation about whether you have mis-declared the expense in 2015/16 instead of 2016/17.

 

Nothing else matters for now - tell us when you know for sure.

 

:-)

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

Link to post
Share on other sites

as an expense yes but on the opposite side of your balance sheet it is an asset that must be accounted for at the end of year. It then reappears on the next year's accounts in the same way as your opening stock to be sold and turned into cash or stays as a liquid asset. It is simple double entry bookeeping.

If you buy £1000 worth of stock, sell it for £2000 and then invest the whole amount in new stock you havent bought £3000 worth of stock to write off againt tax. You have costs of £1000 sales of £2000 and assets of £2000 to carry forward. Your allowable expenditure is £2000 and your gross profit is £1000 but that is not taxable as it is not net of cost so your taxable profit will be zero. Next year you would start with £2000 of stock and if you sell all of that at the same rate as before your taxable profit is £4000 because the stock was allowed for the previous year. That is why I say you need to keep record of your stock and make a best estimate of what you had at the end of the last tax year.

You can claim the cost of the lost shipment as a cost so that will reduce your tax liability as it will be a cost of sales that is allowable.

I should have phrased the "perhaps" better but didnt want to cause a panic as you are obviously worried enough already

.

this is the advice given by several accountants i have asked. not just one.

 

you declare it as an expense in one year, if some of that stock is left over and sold in following tax year you cant declare it again as its already been accounted for, i still have this stock in hand....which will be sold off in the following year affecting my revenue and profits in that year....it will eventually balance it self out in the end and i will be paying the right amount of tax i need to on my profits.

Link to post
Share on other sites
I don't know why Ericsbrother is still talking about a stocktake. The only issue is that you may have claimed an expense in 2015/16 when it was actually incurred in 2016/17.

 

I also take issue with the comments, "You should perhaps let the person know about this and your efforts to try and rectify the known errors ........ " The error HAS to be declared asap !!

 

Hi Josh,

 

Please confirm the approx net profit reported to HMRC in your return to 5th April 2016.

 

Please also confirm if your business accounts are made up to 5th April each year, or a different date.

 

Too early yet to discuss any possible penalty HMRC may seek to charge. However, if you do not owe any tax in 2015/16 AFTER taking off the £1,900 wrongly claimed, that will likely be in your favour.

 

I want you to do whatever you need ASAP, to get confirmation about whether you have mis-declared the expense in 2015/16 instead of 2016/17.

 

Nothing else matters for now - tell us when you know for sure.

 

:-)

 

hi i need to double check on my statements i think i may have got it wrong and it went out in march (just before the tax year ended.) im wiating for my statements now.

 

reported was 6k

accontsa made up to 3rd april 15 - 3rd april 16 (just about in line with tax year)

 

If i dont use an advisor, (i cant afford one, last one qouted me £500), cant i just state this to the officer responsible he seems like a reasonable guy whos been very helpful so far. The leaflets also state that i can just tell the officer as soon as i know something is wrong.

Link to post
Share on other sites

falso alram guys, im pretty certain it went out on the right time and falls within the 15/16 tax year. i will double check on my statement when i get them but i have managed to check an alternative way.

Link to post
Share on other sites

Please EB, there IS no balance sheet, there's no stocktake, no opening and no closing figures. Accounting is done on a cash basis and this is perfectly acceptable. No double entry bookkeeping either.

 

The only thing you mention that's relevant to this case is the lost shipment. If that resulted in reduced income or a refund to the buyer, that should be reflected in Josh's tax records.

 

On a different note, Josh should have looked to the courier to compensate account for anything NOT delivered as required.

 

You're not being helpful to this thread IMHO. :sad:

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

Link to post
Share on other sites
Please EB, there IS no balance sheet, there's no stocktake, no opening and no closing figures. Accounting is done on a cash basis and this is perfectly acceptable. No double entry bookkeeping either.

 

The only thing you mention that's relevant to this case is the lost shipment. If that resulted in reduced income or a refund to the buyer, that should be reflected in Josh's tax records.

 

On a different note, Josh should have looked to the courier to compensate account for anything NOT delivered as required.

 

You're not being helpful to this thread IMHO. :sad:

 

the shipment was uninsured hence i couldnt claim any compensation on it.

Link to post
Share on other sites

Josh, If you paid someone to deliver an item and it wasn't delivered, you should have claimed against the courier regardless of insurance.

 

However, we have more important issues to deal with now ................

 

:-)

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...