Name of account holder????

Discussion in 'UK Finance' started by Jon, Jan 26, 2004.

  1. Jon

    Jon Guest

    On my tax form, it has a section about where to pay overpaid tax to. Asks
    for Bank details, one of which is Name of account holder. I am self employed
    with the business name of Access World. My cheque books have Access World
    written on them above the signature line. Also, I am one of the signatories
    on the account.

    So...what am I supposed to put when it says "Name of account holder" on the
    tax form or even a direct debit?

    Regards,

    Jon
     
    Jon, Jan 26, 2004
    #1
    1. Advertising

  2. Jon wrote:

    > On my tax form, it has a section about where to pay overpaid tax to. Asks
    > for Bank details, one of which is Name of account holder. I am self
    > employed with the business name of Access World. My cheque books have
    > Access World written on them above the signature line. Also, I am one of
    > the signatories on the account.
    >
    > So...what am I supposed to put when it says "Name of account holder" on
    > the tax form or even a direct debit?


    Well, the name of the account holder of the business account would
    be the business name, so if you want the refund to go into that
    account, then put that. "Name of account holder" really just means
    "account name". Are you sure you wouldn't rather have the refund go
    into your personal account? You do have one, don't you?

    Remember, the business doesn't pay tax, you do. So if you paid
    any tax by business cheque, this would have to appear in your
    accounts as "drawings". If you pay a tax refund into the business
    account, this would then be "capital introduced".
     
    Ronald Raygun, Jan 26, 2004
    #2
    1. Advertising

  3. Jon

    Jon Guest

    Yes, good point! Thanks for that. An oversight on my part.

    Jon

    "Ronald Raygun" <> wrote in message
    news:gz7Rb.164$...
    > Jon wrote:
    >
    > > On my tax form, it has a section about where to pay overpaid tax to.

    Asks
    > > for Bank details, one of which is Name of account holder. I am self
    > > employed with the business name of Access World. My cheque books have
    > > Access World written on them above the signature line. Also, I am one of
    > > the signatories on the account.
    > >
    > > So...what am I supposed to put when it says "Name of account holder" on
    > > the tax form or even a direct debit?

    >
    > Well, the name of the account holder of the business account would
    > be the business name, so if you want the refund to go into that
    > account, then put that. "Name of account holder" really just means
    > "account name". Are you sure you wouldn't rather have the refund go
    > into your personal account? You do have one, don't you?
    >
    > Remember, the business doesn't pay tax, you do. So if you paid
    > any tax by business cheque, this would have to appear in your
    > accounts as "drawings". If you pay a tax refund into the business
    > account, this would then be "capital introduced".
    >
     
    Jon, Jan 26, 2004
    #3
  4. Jon

    john boyle Guest

    In message <gz7Rb.164$>, Ronald
    Raygun <> writes
    >Well, the name of the account holder of the business account would
    >be the business name,


    In fact it would be 'Jon Bloggs trading as Access World'.


    > so if you want the refund to go into that
    >account, then put that. "Name of account holder" really just means
    >"account name". Are you sure you wouldn't rather have the refund go
    >into your personal account? You do have one, don't you?


    I hope he does!
    >


    --
    John Boyle
     
    john boyle, Jan 26, 2004
    #4
    1. Advertising

Want to reply to this thread or ask your own question?

It takes just 2 minutes to sign up (and it's free!). Just click the sign up button to choose a username and then you can ask your own questions on the forum.
Similar Threads
  1. Shahzad
    Replies:
    1
    Views:
    604
    A.G. Kalman
    Feb 19, 2004
  2. M Davila

    Credit Card holder not listed in QB2005

    M Davila, Mar 2, 2005, in forum: Quickbooks
    Replies:
    3
    Views:
    265
  3. Replies:
    3
    Views:
    886
  4. matador

    Credit Card - name of card holder on receipt

    matador, May 11, 2006, in forum: Microsoft Point Of Sale
    Replies:
    0
    Views:
    273
    matador
    May 11, 2006
  5. Mike Scott
    Replies:
    68
    Views:
    810
    Alex Heney
    Nov 19, 2005
Loading...

Share This Page