VAT, Payroll & Tax - The Book-keepers Forum (UK)

Amanda · Amanda

HI, I have a client who is de-registering for VAT. I have calculated the VAT return as normal on a spreadsheet (Cash accounting) and got a set of figures. Now in the VAT notes it say that you must account for STOCK/ASSETS if the VAT owed id more than £1000. Well my client's stock is more than £1000 in VAT...

mishygraff · mishygraff

I am currently doing the payroll for a small business and have been asked for a p60 for some one that takes £5000 per year from the business but is not on the payroll , also i had a tax code notice of BR for this person but i have not paid any tax for her through out the year as she was not on the payroll . What forms...

timbowkett · timbowkett

Hi I hope this is in the right section I am trying to fing out if i should be charging vat on the rent of a ramp to a self employed mechanic for him to use as and when he needs it, he is fully selfemployed does no work for me and is regulary working for other people, he has his own key so can work when he wants, I char...

Jenny1974 · Jenny1974

Does a director have to pay class 2 national insurance?

Bucks Bodger · Bucks Bodger

I have a client who needs a P35 done. It's a Ltd Co. with no employees, they have deducted CIS tax from Sub-Contractors they use and have paid these sums over to HMRC throughout the year. They are registered as an employer and have the relevant reference numbers. I thought I could use the HMRC Basic Too...

woody88 · woody88

I need to complete a P35 for a client who has some sub-contractors who are deducted tax at either 20% or 30% and some that have gross payment status and do not get deducted any tax at all. What I would like to know is do the ones that have not been taxed (Gross Payment Status) still go on the annual P35 Return...

woody88 · woody88

I have just received a call from a client who runs a small limited company and he has asked me to set-up a payroll with HMRC for him. In the past he has insisted on paying himself £ 450 per month, although it's not the most tax efficient amount. This is due to the fact that his father in law is a CIMA Accounta...

woody88 · woody88

I am completing the year end accounts for an IT Contractor who creates 2 invoices per month for each contract he undertakes. He creates one invoice for his days worked (Labour) at his agreed daily rate and a second invoice for his expenses associated to this work. He recieves a seperate payment for ea...

RobRJBS · RobRJBS

http://rjbusinesssolutions.blogspot.co.uk/2012/05/h-m-revenue-customs-target-online.html

Wella · Wella

Can some one just confirm I have understood correctly, that if a business asset is sold (A holiday let cottage) and for examples sake there was a gain of £31,200, the two equal partners gain £15600 each, and are liable for £900 CGT each 15600 - 10600 (individual annual exempt amount) = 5000 x 18% = £900 CG...

Jacqui · Jacqui

Hi, Could someone give me some advice. I am currently using Sage Payroll 2010, we have recently made some staff reductions and now only have 15 staff. I have had a Sage salesperson on the phone saying that I need to renew Sage cover and upgrade, the cost of which is more than we previously paid to have our p...

dockerill · dockerill

Hi I have a client, who has made a small loss this year and wishes to cease trading, and due to drop in sales etc he has been getting housing benefit and job seekers allowance over the last tax year, does this income need to go on his self assessment, as the combined income is more than personal allowance ? E...

craigk · craigk

hi, ive paid myself an extra £1000 than what i had originally calculated including my tax allowance and expenses, the £1000 will be taxd overall at 38% incl ni & employers ni. Doing end of year for 19th May and just wondering if can take a directors loan to cover the excess? The £1000 excess was in Mar...

kjmcculloch83 · kjmcculloch83

Hi Folks, I have a quick question. I have a new client who runs a call centre. Each friday he buys everyone on the back shift diner. This can be pizzas, or other takeaway. Firstly, do you think this is a legitimate business expense? Second, does it count as a BIK for the employees? Thanks Kris

Netty · Netty

I am doing a payroll for a client, an emloyee has worked for the business for many years, but didn't work any hours in week1 of this tax year. In week 2 she worked 26.75 hours @ £6.08 per hour £162.64 gross pay). Her tax code is 810L. The system has not deducted any PAYE Tax in week 2 only Employee and Emplo...

Stuartbham · Stuartbham

Just got off the phone to a new client. She's a consultant and some of her clients are colleges and sixth form centres. She's due to exceed the VAT threshold within the next 6 months and wants to get on top of her book-keeping, hence contacting me. She's under the impression that the work she does for the c...

Angeles · Angeles

Hello, I am a Spanish accountant doing bookkeeping now in England. I am a bit confuese about the VAT. I am helping doing the accounts for a Plumbing Services Self Employed person. I am using QuickFile online. I have been entering things like road tax, mobile expenses, diesel, stationary... as Overh...

Jenny1974 · Jenny1974

Just picked up my first VAT registered CIS subbie. Can the VAT return still be produced using a cash accounting method? TIA

HBrowne · HBrowne

Hi all There appear to have been a couple of useful P11D posts in the past here so I hope someone can help me with this query. I joined this company late last year, so am just about to start completing my first P11D (and first ever come to that!). I've been reviewing what was submitted last year to ensure I do...

yukti · yukti

Hi, I am learning Sage Payroll currently and have a question. Can anybody pls help me with how to calculate the total cost of Wages/Salary toa company. Thanks Yukti

Topic		Started By	Replies	Views	Last Post
	In need of a little bit of help pls (Preview) HI, I have a client who is de-registering for VAT. I have calculated the VAT return as normal on a spreadsheet (Cash accounting) and got a set of figures. Now in the VAT notes it say that you must account for STOCK/ASSETS if the VAT owed id more than £1000. Well my client's stock is more than £1000 in VAT...	Amanda	3	1345	Sun May 13 05:57 2012 by Amanda
	Year end paye (Preview) I am currently doing the payroll for a small business and have been asked for a p60 for some one that takes £5000 per year from the business but is not on the payroll , also i had a tax code notice of BR for this person but i have not paid any tax for her through out the year as she was not on the payroll . What forms...	mishygraff	4	1380	Sat May 12 12:49 2012 by gillyfleur
	renting a ramp to self employed mechanic (Preview) Hi I hope this is in the right section I am trying to fing out if i should be charging vat on the rent of a ramp to a self employed mechanic for him to use as and when he needs it, he is fully selfemployed does no work for me and is regulary working for other people, he has his own key so can work when he wants, I char...	timbowkett	3	1286	Fri May 11 22:49 2012 by Wella
	Does a director have to pay class 2 national insurance? (Preview) Does a director have to pay class 2 national insurance?	Jenny1974	2	1117	Fri May 11 18:42 2012 by Truemanbrown
	P35 for CIS only (Preview) I have a client who needs a P35 done. It's a Ltd Co. with no employees, they have deducted CIS tax from Sub-Contractors they use and have paid these sums over to HMRC throughout the year. They are registered as an employer and have the relevant reference numbers. I thought I could use the HMRC Basic Too...	Bucks Bodger	5	3781	Fri May 11 07:13 2012 by Don Tax
	P35 CIS - Gross Payments Query (Preview) I need to complete a P35 for a client who has some sub-contractors who are deducted tax at either 20% or 30% and some that have gross payment status and do not get deducted any tax at all. What I would like to know is do the ones that have not been taxed (Gross Payment Status) still go on the annual P35 Return...	woody88	4	1356	Fri May 11 01:43 2012 by woody88
	Limited Company Payroll (Preview) I have just received a call from a client who runs a small limited company and he has asked me to set-up a payroll with HMRC for him. In the past he has insisted on paying himself £ 450 per month, although it's not the most tax efficient amount. This is due to the fact that his father in law is a CIMA Accounta...	woody88	11	2052	Thu May 10 19:32 2012 by Tom McClelland
	VAT on reimbursed expenses (Preview) I am completing the year end accounts for an IT Contractor who creates 2 invoices per month for each contract he undertakes. He creates one invoice for his days worked (Labour) at his agreed daily rate and a second invoice for his expenses associated to this work. He recieves a seperate payment for ea...	woody88	2	5274	Thu May 10 19:26 2012 by MarkS
	Online Trading (Preview) http://rjbusinesssolutions.blogspot.co.uk/2012/05/h-m-revenue-customs-target-online.html	RobRJBS	0	1153	Wed May 9 21:06 2012 by RobRJBS
	Holiday Let Capital Gains & Partners (Preview) Can some one just confirm I have understood correctly, that if a business asset is sold (A holiday let cottage) and for examples sake there was a gain of £31,200, the two equal partners gain £15600 each, and are liable for £900 CGT each 15600 - 10600 (individual annual exempt amount) = 5000 x 18% = £900 CG...	Wella	1	877	Thu May 10 00:57 2012 by woody88
	Sage Payroll Upgrade (Preview) Hi, Could someone give me some advice. I am currently using Sage Payroll 2010, we have recently made some staff reductions and now only have 15 staff. I have had a Sage salesperson on the phone saying that I need to renew Sage cover and upgrade, the cost of which is more than we previously paid to have our p...	Jacqui	5	6484	Wed May 9 14:53 2012 by Tom McClelland
	Job seekers and housing benefit (Preview) Hi I have a client, who has made a small loss this year and wishes to cease trading, and due to drop in sales etc he has been getting housing benefit and job seekers allowance over the last tax year, does this income need to go on his self assessment, as the combined income is more than personal allowance ? E...	dockerill	2	1324	Wed May 9 04:36 2012 by dockerill
	paid myself more salary than should have!!! (Preview) hi, ive paid myself an extra £1000 than what i had originally calculated including my tax allowance and expenses, the £1000 will be taxd overall at 38% incl ni & employers ni. Doing end of year for 19th May and just wondering if can take a directors loan to cover the excess? The £1000 excess was in Mar...	craigk	3	968	Tue May 8 19:30 2012 by woody88
	Buying Employees Diner (Preview) Hi Folks, I have a quick question. I have a new client who runs a call centre. Each friday he buys everyone on the back shift diner. This can be pizzas, or other takeaway. Firstly, do you think this is a legitimate business expense? Second, does it count as a BIK for the employees? Thanks Kris	kjmcculloch83	2	1458	Sun May 6 19:14 2012 by kjmcculloch83
	PAYE TAX (Preview) I am doing a payroll for a client, an emloyee has worked for the business for many years, but didn't work any hours in week1 of this tax year. In week 2 she worked 26.75 hours @ £6.08 per hour £162.64 gross pay). Her tax code is 810L. The system has not deducted any PAYE Tax in week 2 only Employee and Emplo...	Netty	5	3753	Sat May 5 18:15 2012 by Wella
	Are consultancy services to colleges exempt from VAT? (Preview) Just got off the phone to a new client. She's a consultant and some of her clients are colleges and sixth form centres. She's due to exceed the VAT threshold within the next 6 months and wants to get on top of her book-keeping, hence contacting me. She's under the impression that the work she does for the c...	Stuartbham	7	4595	Fri May 4 05:00 2012 by semsley
	VAT (Preview) Hello, I am a Spanish accountant doing bookkeeping now in England. I am a bit confuese about the VAT. I am helping doing the accounts for a Plumbing Services Self Employed person. I am using QuickFile online. I have been entering things like road tax, mobile expenses, diesel, stationary... as Overh...	Angeles	6	1792	Thu May 3 05:23 2012 by semsley
	CIS - cash or invoice basis (Preview) Just picked up my first VAT registered CIS subbie. Can the VAT return still be produced using a cash accounting method? TIA	Jenny1974	2	1497	Wed May 2 20:17 2012 by Jenny1974
	Last years P11D was incorrect - what now? (Preview) Hi all There appear to have been a couple of useful P11D posts in the past here so I hope someone can help me with this query. I joined this company late last year, so am just about to start completing my first P11D (and first ever come to that!). I've been reviewing what was submitted last year to ensure I do...	HBrowne	1	2263	Wed May 2 19:31 2012 by Haysden
	Cost of Wages/ Salary (Preview) Hi, I am learning Sage Payroll currently and have a question. Can anybody pls help me with how to calculate the total cost of Wages/Salary toa company. Thanks Yukti	yukti	4	3092	Wed May 2 16:51 2012 by yukti
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