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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.
Self-Control : Most entrepreneurs believe they can do the job better than anyone else and will strive for maximum responsibility and accountability. An entrepreneur needs to maint
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Explain Territorial principle of criminal jurisdiction The territorial principle provides that the courts of the State where a crime is committed may exercise jurisdiction over
C.I.F. Contacts - Import and Export Trade Therefore a c.i.f. like cost, insurance else freight whether contract is a contract for the sale of goods for be performed through the
Determine the schemes of Michael Mandelbaum Michael Mandelbaum has offered a two fold scheme, the inside-out and outside-in approach. According to inside-out approach, a natio
Sense of Urgenc: Entrepreneurs have a never-ending sense of urgency to develop their ideas. Inactivity makes them impatient, tense, and uneasy. They thrive on activity and are tir
Define the Strategic Voting and Policy Process Now we take up an important issue with respect to policy process. In standard models, where a single vote is taken directly as re
Irene walked into a store carrying a bottle of soda she had purchased a few days earlier. While in the store, she opened the bottle of soda and was drinking it while she
Francis is the newly elected chairperson of Boat House Services Union (BHSU) which represents 70% of workers at Boat House Services Ltd. BHSU is registered and holds a registra
Question 1 "CSR can play a key role in contributing to sustainable development while enhancing Europe's innovative potential and competitiveness" Critically analyse the link be
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