Re: UK CoA query

[MJ Ray <..hidden..>]

..hidden.. wrote:
> The PAYE and National Insurance account (2210) is set up as an asset.   
> Since the money that goes into this account is not actually owned by  
> the business, but is held in trust for Her Majesty's Revenue and  
> Customs, should it be a liability instead?

I suspect the money held should be an asset, balanced by a
corresponding liability, as described on
http://www.businesslink.gov.uk/bdotg/action/detail?r.l1=1073858808&r.l3=1073889327&type=RESOURCES&itemId=1074499496&r.l2=1073859227&r.s=sc
but I'm not an accountant and don't currently run PAYE, so I'd ask one
if I were you.  At worst, both Business Link and HMRC have helplines.

Hope that helps,
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