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Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. In a couple of words, no it isn't!
I would be inclined to change your accountants to ones with a better knowledge of book keeping that is currently being displayed. Under no circumstances can your transfers to cover timely settlement of trading debts be considered part of your business income nor can the repayments be considered 'drawings.' As you surmise you will exposed to taxation on the former. Were it posted as business expenditure it would be an entirely different kettle of fish and tax neutral. There is also a danger that if it is included as business turnover it might hasten the approach to the VAT turnover threshold at 83K in any one year.
My approach would be not to pay their bill until this ignorance is resolved and corrected. I have heard some things in my time, but never the like of this; it takes the biscuit! Also take them to the small claims court to recover the tax levied as a result of their stupidity.
I recall once a set of audit inquiries by a set of Chartered Accountants written in the careful handwriting of a school leaver adversely commenting amongst other things that no day book of the business was being maintained to record sales. The company had issued thirteen invoices in the whole year! In the end the audit firm waived their fee!
I do hope that I have been able to shed some light on your position.