GP partner profit share renamed as locum income in end of year Limited Liability Company

Berry543

GP partner profit share is taxed through a limited liability company, corporation and dividend tax paid. In the end of year Company Account summary, this income is entered as “locum income”  in the schedule of reserves, rather than GP partner profit share. Why is this?

Bookworm225

ask your accountant to explain 

Berry543

Not getting far with that unfortunately. One of many irregularities.

Grumpy_chap

Berry543 said:

GP partner profit share is taxed through a limited liability company, corporation and dividend tax paid. In the end of year Company Account summary, this income is entered as “locum income”  in the schedule of reserves, rather than GP partner profit share. Why is this?

Bookworm225 said:

ask your accountant to explain 

Berry543 said:

Not getting far with that unfortunately. One of many irregularities.

OK, so you have a query on how something is presented in your company accounts.
You have asked the Accountant.
You remain unsure / do not understand the explanation that the Accountant has provided.
Maybe, if you set out more detail of what transactions are where and then the explanation that the Accountant has provided and how much of that you follow before getting confused, it might then be possible for a member of the forum to explain that part which is confusing in a different way that may fall into place.