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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.
When operating a business, an owner has to make numerous decisions on a daily basis. In some cases, a decision may increase profits, but the owner is uncomfortable making such a de
Imagine yourself in a situation of being encouraged to inflate your expense account. Do you think your choice would be most affected by your individual moral development or by the
Silcraze City Council owns and operates a Gym. It charges $20 per month as membership fees. On the Gym Membership Card it is written that the Cardholder has the right to use all th
Defines Controlled delivery This convention legalized the act of Controlled delivery and defines "Controlled delivery" as "the technique of allowing illicit or suspect consignm
QUESTION 1 (a) What are the conditions for use of the Request for Sealed Quotation method? (b) Explain the procedures to be followed for the preparation of a shortlist for t
Question: Consider the following formulation of Kant's Categorical Imperative: ‘Act only to that maxim by which you can at the same time will that it should become a universal
I am an international Law student. am taking International Financial Institutions I wrote a paper about the Europe Crisis I would like to find a lawyer or a tutor that can review a
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Complaints made against the auditors: These are the most simple principles that such have to be applied to cases of this description. I protest, however, against the notion
Reports and balance sheets: The reports and balance sheets for the years ending June 30, 1925, and, June 30, 1926, were signed by two directors. The reports annexed to these
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