General Book-keeping & Accounting - The Book-keepers Forum (UK)

geek84 · geek84

Hi Folks A friend of mine who is a 'gas man', needs to complete his first tax forms.Â He is registered as self employed, so has got a UTR, and I would be most grateful if somone would be kind enough to give advice on the following- 1. By what date does the tax return have to be completed? 2.Â Does it need to be...

BookkeeperBasingstoke · BookkeeperBasingstoke

I am a Bookkeeper looking to partner up with an Accountant for filing Tax Returns etc. Can an Accountant based outside the UK File tax returns / accounts for UK based companies and directors? Thanks

Ozia · Ozia

Hi all, Im new to this forum and would really appreciate your comments! I work for a Ltd company and now being busy with chasing the old invoices that were sent out before I joined. There is one customer that actually promised me a payment, but I don't know how to deal with Vat charged on it. I went throug...

Kirst · Kirst

Hi there all! I have a SOLE TRADER customer. He went through a phase of poor cash flow and therefore had to put some "personal" money back into the account to cover bills. Bearing in mind he's a sole trader rather than a limited company, therefore the DLA doesnt apply to this situation (co...

Ozia · Ozia

Hi all, We have a few international customers who pay our invoices in EURO into our EURO bank account. On few occasions recently, we have only received the payments net off bank charges. Our customers now argue that they sent a full payment, however we have only received a part of it. Its not the case wit...

Accountingnewby · Accountingnewby

Hello All, I am in the fortunate position of just having a life insurance policy mature. As I have been paying regular premiums for the last many years I believe that it is a qualifying policy. Reading the FT personal tax 2011/12 on P217 it states that I 'do not enter the details in my tax return'. Would so...

linda19 · linda19

There is a credit on the bank statement from a supplier. How do i enter this so it hits the supplier account please ? Thanks

Adrian99 · Adrian99

Hello ! :) Please if somebody could help me with these questions. Is it a mobile phone an Allowable expense for a self employed driver who use it in the course of the business and also for personal calls ? How the calls expense could be deducted if there are unlimited minutes and the calls are business a...

NickyW · NickyW

If anyone can help me? Helping someone with their books using QB. Am going through the Bank statements - should I show cash withdrawals as owners drawings or should I show it as a transfer from bank account into Cash Account - not that he keeps any records of his cash account. Any help would be greatly app...

Rhianrach · Rhianrach

If someone enters into an already established partnership do they have to draw up an agreement and do they have to let HMRC know?

kostas · kostas

Hello I am a non UK Resident and I'm interested in formating a UK Limited Company. The company will be a drop shipping retail e-shop ( http://en.wikipedia.org/wiki/Drop_shipping ) with delivery service all over the world. The origin and the shipping of the products (that are listed in my e-shop...

NA_AA · NA_AA

How would you record a credit from a supplier who provide you with a credit as a 'gesture of goodwill' to compensate for poor service?

Rhianrach · Rhianrach

I'm not after a new job but I like to look at job adverts every now and again. I saw one and one of the duties was " maintaining accruals and prepayments", and I wondered what people think this might be? I get the accrual and prepayment concept, i've never had any experience of having to actuall...

numbnumber · numbnumber

Am I being unreasonable, there are twelve months in the year and HMRC decide to make services unavailable at year end so they can upgrade the system? The world has gone crazy. For more information see the link below. http://www.hmrc.gov.uk/news/it-upgrade-april.htm

kels74 · kels74

Hi, I would be so grateful if someone could help me with the journal entries for writing off a bad debt from a customer account and also accounting for VAT. I believe its the following Bad debt 8100 account DR Vat Account DR Customer account raise a credit with T1 tax code Any help is very much appreicia...

Megan_furstenberg · Megan_furstenberg

I've just started as a junior bookkeeper at a small plumbing firm in Sydney. There we use MYOB as the accounting software to record daily journal entries. The boss only uses the bank account for all transactions, the beginning balance of the bank account last year was around 10000. As i generate the Pr...

Samilou67 · Samilou67

Hi I have started doing the books for a new company and there are a few cash payments that have come out of the directors personal funds. I have been told to credit them against the Directors Loan account as they will be reclaimed at the end of the year. Does anyone know how I do this in Sage? Do I just do a jour...

NA_AA · NA_AA

How would you disclose bf trade losses from prior year in current years CT600? Note current year (year 2) has also incurred a net loss - therefore no corporation tax to be paid however how would you account for the losses incurred in year 1 and year 2?

Adrian99 · Adrian99

Hello ! I have discovered that there are qualifed accountants near me, but something sounds wrong to just pop in and ask: "Do you want to be my mentor ?. This seems to be more appropriate for a letter or an email. Does anybody have a template for this ? Many thanks, Adrian

Kate1 · Kate1

Hi, I prepare the accounts for a sole trader. There have been a few taxi receipts and train tickets that have been used for business purposes. Am I to put these through the accounts as travel expenses or are they to go to drawings? Would someone please be able to point me in the direction of where I coul...

Topic		Started By	Replies	Views	Last Post
	Completing Tax Return - help required please (Preview) Hi Folks A friend of mine who is a 'gas man', needs to complete his first tax forms.Â He is registered as self employed, so has got a UTR, and I would be most grateful if somone would be kind enough to give advice on the following- 1. By what date does the tax return have to be completed? 2.Â Does it need to be...	geek84	5	4505	Thu Apr 11 22:30 2013 by geek84
	Can an Accountant based outside the UK File tax returns / accounts for UK based companies and directors? (Preview) I am a Bookkeeper looking to partner up with an Accountant for filing Tax Returns etc. Can an Accountant based outside the UK File tax returns / accounts for UK based companies and directors? Thanks	BookkeeperBasingstoke	2	3993	Thu Apr 11 18:58 2013 by BookkeeperBasingstoke
	VAT on old customer invoice (Preview) Hi all, Im new to this forum and would really appreciate your comments! I work for a Ltd company and now being busy with chasing the old invoices that were sent out before I joined. There is one customer that actually promised me a payment, but I don't know how to deal with Vat charged on it. I went throug...	Ozia	4	4181	Thu Apr 11 16:56 2013 by Ozia
	Reversal of Drawings? (personal money back in to an account used by a sole trader) sole trader drawings (Preview) Hi there all! I have a SOLE TRADER customer. He went through a phase of poor cash flow and therefore had to put some "personal" money back into the account to cover bills. Bearing in mind he's a sole trader rather than a limited company, therefore the DLA doesnt apply to this situation (co...	Kirst	1	7053	Thu Apr 11 01:20 2013 by Robert Pearce
	Underpayment by a customer (Preview) Hi all, We have a few international customers who pay our invoices in EURO into our EURO bank account. On few occasions recently, we have only received the payments net off bank charges. Our customers now argue that they sent a full payment, however we have only received a part of it. Its not the case wit...	Ozia	2	4902	Wed Apr 10 22:55 2013 by Ozia
	Capital gains and maturing life insurance policy (Preview) Hello All, I am in the fortunate position of just having a life insurance policy mature. As I have been paying regular premiums for the last many years I believe that it is a qualifying policy. Reading the FT personal tax 2011/12 on P217 it states that I 'do not enter the details in my tax return'. Would so...	Accountingnewby	5	7174	Wed Apr 10 18:52 2013 by Truemanbrown
	Credit to a supplier account (Preview) There is a credit on the bank statement from a supplier. How do i enter this so it hits the supplier account please ? Thanks	linda19	1	3922	Wed Apr 10 06:49 2013 by MarkS
	Is it a mobile phone an Allowable expense ? Does the tip has to be recorded in order to pay tax? (Preview) Hello ! :) Please if somebody could help me with these questions. Is it a mobile phone an Allowable expense for a self employed driver who use it in the course of the business and also for personal calls ? How the calls expense could be deducted if there are unlimited minutes and the calls are business a...	Adrian99	2	4045	Tue Apr 9 12:42 2013 by ClawzCTR
	Cash withdrawals - Owners Drawings? (Preview) If anyone can help me? Helping someone with their books using QB. Am going through the Bank statements - should I show cash withdrawals as owners drawings or should I show it as a transfer from bank account into Cash Account - not that he keeps any records of his cash account. Any help would be greatly app...	NickyW	19	11513	Tue Apr 9 04:52 2013 by Sandra
	Partnerships (Preview) If someone enters into an already established partnership do they have to draw up an agreement and do they have to let HMRC know?	Rhianrach	4	4500	Tue Apr 9 01:07 2013 by Rhianrach
	Limited Company and Invoice from Chinese Supplier (Preview) Hello I am a non UK Resident and I'm interested in formating a UK Limited Company. The company will be a drop shipping retail e-shop ( http://en.wikipedia.org/wiki/Drop_shipping ) with delivery service all over the world. The origin and the shipping of the products (that are listed in my e-shop...	kostas	1	5399	Mon Apr 8 15:36 2013 by napster
	Refund + credit as a gesture of goodwill (Preview) How would you record a credit from a supplier who provide you with a credit as a 'gesture of goodwill' to compensate for poor service?	NA_AA	3	5143	Sat Apr 6 21:53 2013 by Truemanbrown
	maintaining accruals and prepayments (Preview) I'm not after a new job but I like to look at job adverts every now and again. I saw one and one of the duties was " maintaining accruals and prepayments", and I wondered what people think this might be? I get the accrual and prepayment concept, i've never had any experience of having to actuall...	Rhianrach	11	5595	Sat Apr 6 17:51 2013 by VinceH
	HMRC online services unavailable (Preview) Am I being unreasonable, there are twelve months in the year and HMRC decide to make services unavailable at year end so they can upgrade the system? The world has gone crazy. For more information see the link below. http://www.hmrc.gov.uk/news/it-upgrade-april.htm	numbnumber	8	7162	Sat Apr 6 03:26 2013 by Don Tax
	Writing off bad debts (including accounting for the vat element) (Preview) Hi, I would be so grateful if someone could help me with the journal entries for writing off a bad debt from a customer account and also accounting for VAT. I believe its the following Bad debt 8100 account DR Vat Account DR Customer account raise a credit with T1 tax code Any help is very much appreicia...	kels74	1	1370	Thu Apr 4 23:41 2013 by numbnumber
	Profit and loss statement? (Preview) I've just started as a junior bookkeeper at a small plumbing firm in Sydney. There we use MYOB as the accounting software to record daily journal entries. The boss only uses the bank account for all transactions, the beginning balance of the bank account last year was around 10000. As i generate the Pr...	Megan_furstenberg	2	4346	Thu Apr 4 04:48 2013 by AccountantsCircle
	Crediting Directors Loan Account (Preview) Hi I have started doing the books for a new company and there are a few cash payments that have come out of the directors personal funds. I have been told to credit them against the Directors Loan account as they will be reclaimed at the end of the year. Does anyone know how I do this in Sage? Do I just do a jour...	Samilou67	2	4492	Wed Apr 3 19:46 2013 by Samilou67
	Bf losses from prior year (Preview) How would you disclose bf trade losses from prior year in current years CT600? Note current year (year 2) has also incurred a net loss - therefore no corporation tax to be paid however how would you account for the losses incurred in year 1 and year 2?	NA_AA	1	4636	Wed Apr 3 16:29 2013 by Robert Pearce
	Template Letter requesting mentoring (Preview) Hello ! I have discovered that there are qualifed accountants near me, but something sounds wrong to just pop in and ask: "Do you want to be my mentor ?. This seems to be more appropriate for a letter or an email. Does anybody have a template for this ? Many thanks, Adrian	Adrian99	9	5133	Wed Apr 3 16:01 2013 by Adrian99
	travel expenses for a sole trader (Preview) Hi, I prepare the accounts for a sole trader. There have been a few taxi receipts and train tickets that have been used for business purposes. Am I to put these through the accounts as travel expenses or are they to go to drawings? Would someone please be able to point me in the direction of where I coul...	Kate1	11	3856	Wed Apr 3 05:51 2013 by MarkS
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