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PREFERENTIAL DEBTS:
These unsecured debts which rank ahead of a floating charge and non-preferential debts are:(a) one year's taxes, i.e. corporation tax, PAYE income tax deducted, rates, VAT unpaid at the "relevant date". The relevant date is defined as:i. the date of the order for compulsory liquidation (or any earlier order for appointment of a provisional liquidator); orii. the date of passing the resolution to wind up voluntarily.If more than one year's tax is outstanding the Income Tax Department may select whichever year yields the largest amount of corporation tax; in other cases it is the latest year's tax which is a preferential debt;(b) wages and salary of an employee, i.e. clerk, servant, workman or labourer (including commission or piece work payments) of the four months up to the relevant date limited to a maximum of four thousand shillings owed to each individual employee, accrued holiday pay and employer's National Social Security Fund (NSSF) contributions. A director is not an employee in respect of a claim for unpaid fees - but he may be in respect of salary if he has a contract of service.
District Magistrate's Court Establishment Further District Magistrate's Courts are established to each district in England thgrough S.7(1) of the Magistrate's Courts Ac
Termination of Partnership The Articles of Partnership will contain like a rule or be the regulations with regard for the termination of the partnership. Almost in the absence o
WITH REFERENCE TO THE STANDARD FORM CONTRACT (in isolation) 1. Explain the legal issue that clause 1 of the standard form contract is addressing and what it is aiming to achiev
Frantic Fast Foods had earnings after taxes of $420,000 in 2012 with 309,000 shares outstanding. On January 1, 2013, the firm issued 20,000 new shares. Because of the proceeds from
Question 1: Describe the types of pallets that exist, and suggest the one that is more suitable to an organization that has a high variety of low-value items, which high stock
Throughout this course, you have analyzed and discussed case studies and issues on key ethical issues in information technology. Now it is time to consider how these theories apply
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Games nations play Game analogy can be used to get the idea because the principal players, states reject any higher authority. Each state, take any player in a competitive game
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