I have two questions for those of you that don't mind assisting.
The first is does an attorney fit into the new companies act regulations, for example being owner managed = no audit and the public interest score? Or are they all required to be audited?
I have a very small pty client (owner managed), 1 director and shareholder. He has clearly been trying to get anything and everything through the business. Some of the expenses look like legitimate expenses such as entertainment and company clothing, but others just are blatant personal expenses. How would you handle these. Should i put them to a loan account? and draw up a loan agreement, or should i put directly to directors emoluments as a salary item? He hasn't paid any PAYE and would therefore have to be taxed in his personal IT return.