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

d0188 · d0188

Hi there, Can anyone tell me the correct nominal code to use for pension service charges? These are monthly direct debits made as bank payments. Is it best to set up under it's own nominal code, or use one of Sage's?

Ellie16 · Ellie16

Hello, couple of times I have come across situations when home office expenses were claimed at the rate of 20% of the bills - rent, water, electricity, council tax. These companies are hgv drivers (limited companies). I thought that it would be purely flat rate of £4 per week, but I have heard that lots...

Maggie Russell · Maggie Russell

Hi everyone Re: Using SAGE 50 v22 with Foreign Trader I am working on some old allocations before my time and trying to check if they have been allocated to the customer receipts correctly. I have checked an old Remittance and found that one invoice has not been allocated to it but don't know what was a...

Denise Forrest · Denise Forrest

Hi, I have just started out and have a few questions regarding a new client, it would be great to get some guidance on what to do. Staff are paid cash in hand - are there any guidelines on how this should be done? Should NI, tax etc not be paid also? Should my client not be keeping records of this? When carryin...

abacus12345 · abacus12345

Hi. I just thought I'd post this case law up from 2016 which I think demonstrates the need to ensure procedures are preformed in the correct order. This error cost the former shareholder almost Â£40,000 more in CGT through one oversight. JK Moore vs HMRC 2016.

darcyfi · darcyfi

Hi, I do book keeping for a sole trader, the sage package he has was initially used for his first company (vat registered) - the farm - he then started a consultancy company which became a nominal code in the within the farm sage package. He has now upgraded his sage package which allows two companies...

Kitty37 · Kitty37

Hi - can someone please confirm the balancing charge on an item that was sold for more than it originally cost, when AIA was claimed originally. Let's say an item was bought for £5000, and 100% AIA was claimed, then the following year the asset was sold for £6000. Would the balancing charge be £6000 or wo...

maverickj8 · maverickj8

Hi I am new here. I have a question and would just like to hear peoples thoughts and opinion. I have been at a company for 3 month and the annual insurance (Professional Indemnity in this example) has just been renewed and subsequently set up via Premium Credit, i.e. Direct Debit. What the previous c...

Chally · Chally

Hi, i am new to this forum, which looks like one of the best, as I have looked at a few. At the moment I am studying AAT level 3 at college, am in a farming partnership with my husband and hope to set up my own bookkeeping business when qualified. My query is, at present we contract lease a vehicle, claim back 5...

PeterC · PeterC

Hi, I hope you can help me with the following (simplified) example of a problem that I'm facing. I'm self-employed, running a Canadian corporation dealing with sales in CAD and USD. I'm using Wave Accounting software. Let's say I receive a payment of USD100, deposited into my PayPal account, which t...

AICB · AICB

Hello good people, Does anyone know which part of HMRC should be supplied with a copy of a Company's form DS01 when starting the Striking Off process? I would have thought it would be the Company's Corporation Tax office, but is there a more specific office to send it to? Thanks Andy

lornabookkeeper · lornabookkeeper

Hi, although I qualified a few years ago, I am 6 months into being self-employed, and I am coming across a few "grey" areas. I have already posted on here, but I am still a little worried about sending info off to my client without double checking again. I have spent a long time tonight researching, bu...

Lyndsey · Lyndsey

Hi All Just had a question from a client, he has moved address into a shared accommodation. He is not happy for correspondence going to his home due to the mail being not secured from others. He is getting his post delivered to his business address/employers address. I really need to advise HMRC of a cha...

Ellie16 · Ellie16

hello, I'm looking for a help with the taxation account. I had opening balances from a previous bookkeeper that include a position of 900. I have added it to my Sage 50 as an opening balance and when I got the the end of my financial year Sage added up this opening balance to my corporation tax amount for th...

BudgetB · BudgetB

Evening all, I wonder if anyone can point me in the direction of an answer for this scenario please. A sole director/shareholder sells his business to someone else. An SPA is signed, shares transferred and cash agreed. All is good and I understand the tax implications of that. Subsequently the new ow...

rafapak · rafapak

hi guys I would like to ask you for advice. I do level 2 at the moment. If everything goes ok i will start level 3 in march. Level 2 is free of charge whereas level 3 should be paid for. I read about government student loans . One of the conditions you have to fulfill is that you have to be resident in UK for thre...

Muzzy2kuk · Muzzy2kuk

Hi all this may be a bit long winded so bare with me. I was basically wondering what area of skillset I am missing when thinking about progressing towards becoming a bookkeeper. Obv I have some more studies to complete before I am anywhere near, just thinking forward. In my current role I load bank s...

darklord1 · darklord1

Hi, I have a question which I'm hoping someone might be able to help me with. My other half works for a company that uses subcontractors. These people are all verified, paid each week and payment & deduction statements issued each month. What my other half is concerned about is that no invoices...

Blonde Accountant · Blonde Accountant

Hello, I am preparing the accounts for a child minder who works from home. In her garden she used to have trees around it, but now she has got rid of these and had fences erected at a cost of £2030. She said it was a safeguarding issue, but she would have had the work done anyway. Can I claim at least part of th...

cdone · cdone

Hi There, I was hoping someone could help me out with the following. I received the 2015 changes to my Sage accounts from the Accountants in December. I posted all the journals they sent over into the P&L account as my 2015 sage was closed. One of the journals was to write off the bad debts and clean u...

Topic		Started By	Replies	Views	Last Post
	Nominal code question (Preview) Hi there, Can anyone tell me the correct nominal code to use for pension service charges? These are monthly direct debits made as bank payments. Is it best to set up under it's own nominal code, or use one of Sage's?	d0188	1	800	Tue Feb 7 21:00 2017 by Cheshire
	Claiming home office expenses – limited company directors (Preview) Hello, couple of times I have come across situations when home office expenses were claimed at the rate of 20% of the bills - rent, water, electricity, council tax. These companies are hgv drivers (limited companies). I thought that it would be purely flat rate of £4 per week, but I have heard that lots...	Ellie16	10	1010	Tue Feb 7 17:40 2017 by Ellie16
	SAGE report to show Customer Receipt and what has been allocated to it (Preview) Hi everyone Re: Using SAGE 50 v22 with Foreign Trader I am working on some old allocations before my time and trying to check if they have been allocated to the customer receipts correctly. I have checked an old Remittance and found that one invoice has not been allocated to it but don't know what was a...	Maggie Russell	6	777	Mon Feb 6 14:02 2017 by Cheshire
	Cash in Hand (Preview) Hi, I have just started out and have a few questions regarding a new client, it would be great to get some guidance on what to do. Staff are paid cash in hand - are there any guidelines on how this should be done? Should NI, tax etc not be paid also? Should my client not be keeping records of this? When carryin...	Denise Forrest	20	1995	Mon Feb 6 13:17 2017 by Leger
	Company share buy back - ER (Preview) Hi. I just thought I'd post this case law up from 2016 which I think demonstrates the need to ensure procedures are preformed in the correct order. This error cost the former shareholder almost Â£40,000 more in CGT through one oversight. JK Moore vs HMRC 2016.	abacus12345	0	502	Mon Feb 6 12:51 2017 by abacus12345
	2 companys, one vat number - sage /vat return query, answer needed asap plese (Preview) Hi, I do book keeping for a sole trader, the sage package he has was initially used for his first company (vat registered) - the farm - he then started a consultancy company which became a nominal code in the within the farm sage package. He has now upgraded his sage package which allows two companies...	darcyfi	4	948	Sun Feb 5 15:41 2017 by Cheshire
	Balancing Charge when claimed AIA (Preview) Hi - can someone please confirm the balancing charge on an item that was sold for more than it originally cost, when AIA was claimed originally. Let's say an item was bought for £5000, and 100% AIA was claimed, then the following year the asset was sold for £6000. Would the balancing charge be £6000 or wo...	Kitty37	1	696	Wed Feb 1 07:24 2017 by Kitty37
	Purchase Ledger / Prepayments (Preview) Hi I am new here. I have a question and would just like to hear peoples thoughts and opinion. I have been at a company for 3 month and the annual insurance (Professional Indemnity in this example) has just been renewed and subsequently set up via Premium Credit, i.e. Direct Debit. What the previous c...	maverickj8	6	746	Mon Jan 30 18:34 2017 by maverickj8
	Personal Contract Purchase (PCP) (Preview) Hi, i am new to this forum, which looks like one of the best, as I have looked at a few. At the moment I am studying AAT level 3 at college, am in a farming partnership with my husband and hope to set up my own bookkeeping business when qualified. My query is, at present we contract lease a vehicle, claim back 5...	Chally	7	1759	Fri Jan 27 21:20 2017 by Amanda
	PayPal and Exchange Rate Fluctuations (Preview) Hi, I hope you can help me with the following (simplified) example of a problem that I'm facing. I'm self-employed, running a Canadian corporation dealing with sales in CAD and USD. I'm using Wave Accounting software. Let's say I receive a payment of USD100, deposited into my PayPal account, which t...	PeterC	1	949	Wed Jan 25 23:21 2017 by Cheshire
	Company striking off - who to tell in HMRC? (Preview) Hello good people, Does anyone know which part of HMRC should be supplied with a copy of a Company's form DS01 when starting the Striking Off process? I would have thought it would be the Company's Corporation Tax office, but is there a more specific office to send it to? Thanks Andy	AICB	12	8092	Wed Jan 25 12:49 2017 by AICB
	Hairdresser has bought lots of decorative items for new salon (Preview) Hi, although I qualified a few years ago, I am 6 months into being self-employed, and I am coming across a few "grey" areas. I have already posted on here, but I am still a little worried about sending info off to my client without double checking again. I have spent a long time tonight researching, bu...	lornabookkeeper	5	738	Tue Jan 24 23:10 2017 by Cheshire
	Correspondence address with HMRC rather than home address? (Preview) Hi All Just had a question from a client, he has moved address into a shared accommodation. He is not happy for correspondence going to his home due to the mail being not secured from others. He is getting his post delivered to his business address/employers address. I really need to advise HMRC of a cha...	Lyndsey	2	1030	Mon Jan 23 14:41 2017 by Lyndsey
	taxation account 9001 (Preview) hello, I'm looking for a help with the taxation account. I had opening balances from a previous bookkeeper that include a position of 900. I have added it to my Sage 50 as an opening balance and when I got the the end of my financial year Sage added up this opening balance to my corporation tax amount for th...	Ellie16	6	1285	Sat Jan 21 22:03 2017 by Cheshire
	Sale of Business (Preview) Evening all, I wonder if anyone can point me in the direction of an answer for this scenario please. A sole director/shareholder sells his business to someone else. An SPA is signed, shares transferred and cash agreed. All is good and I understand the tax implications of that. Subsequently the new ow...	BudgetB	9	924	Sat Jan 21 17:06 2017 by BudgetB
	aat- loan from government (Preview) hi guys I would like to ask you for advice. I do level 2 at the moment. If everything goes ok i will start level 3 in march. Level 2 is free of charge whereas level 3 should be paid for. I read about government student loans . One of the conditions you have to fulfill is that you have to be resident in UK for thre...	rafapak	3	823	Sat Jan 21 11:37 2017 by rafapak
	Bookkeeping basics (Preview) Hi all this may be a bit long winded so bare with me. I was basically wondering what area of skillset I am missing when thinking about progressing towards becoming a bookkeeper. Obv I have some more studies to complete before I am anywhere near, just thinking forward. In my current role I load bank s...	Muzzy2kuk	2	750	Sat Jan 21 10:10 2017 by Muzzy2kuk
	Subcontractor Invoices (Preview) Hi, I have a question which I'm hoping someone might be able to help me with. My other half works for a company that uses subcontractors. These people are all verified, paid each week and payment & deduction statements issued each month. What my other half is concerned about is that no invoices...	darklord1	2	995	Thu Jan 19 14:54 2017 by pictures
	Child Minder Question (Preview) Hello, I am preparing the accounts for a child minder who works from home. In her garden she used to have trees around it, but now she has got rid of these and had fences erected at a cost of £2030. She said it was a safeguarding issue, but she would have had the work done anyway. Can I claim at least part of th...	Blonde Accountant	9	1038	Thu Jan 19 13:54 2017 by Cheshire
	Amends to 2015 Accounts (Preview) Hi There, I was hoping someone could help me out with the following. I received the 2015 changes to my Sage accounts from the Accountants in December. I posted all the journals they sent over into the P&L account as my 2015 sage was closed. One of the journals was to write off the bad debts and clean u...	cdone	8	1097	Tue Jan 17 19:37 2017 by Cheshire
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