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

T P · T P

Hello. I posted a while ago about studio costs in accounts, but am still a bit confused. I hope someone doesn't mind clarifying. My b-i-law lives at home with his parents and pays £200 per month in "rent". He is self employed as an illustrator, and works in one of the rooms of the house as his st...

Tom H P · Tom H P

Hi guys, I hope someone might be able to help me out please?! I'm having a play about with Sage Payroll and I've entered an individual, as a director, for sage to calculate the NI contributions as per the tax tables. Sage calculated this correctly for my fake "month 1" for the employee's NI co...

Tom H P · Tom H P

Hi guys, I was just wondering, my brother in law started his own business last year, and his profit for the year was well below the tax free allowance. But because he's been doing his own accounts, he didn't allow for the fact that he had a debtor of 900 quid at the end of the year. He has subsequently includ...

Suffolker · Suffolker

I was just wondering about the following; lets say a self employed person has income of 23,000 and outgoings of 13,000, the tax free earnings for last year was 6,035 does that mean the person would be taxed on everything over the 6,035 and up to the 23,000 OR is it a case of because they made 10,000 profit...

Silly Digits · Silly Digits

A client (Ltd co, VAT reg) has given me all the receipts for his materials to which I will reclaim the appropriate VAT, but he has now told me that a payment that has been banked was for a friend of his, that he purchased some materials for. Just to clarify if reclaiming VAT on materials I would then have acc...

kpm · kpm

Hi Need sage professional help. to balance ledgers I need to carry out a number of adjustments where the vat rate when initial transaction was 17.5% and when deleting an entry and re-entering with the correct information the standard rate is now set at 15%. How can I do these adjustments where some tr...

tayorich · tayorich

Hi all, Hope all is well with you. My client is an agent for a number of photographers who do a lot of shoots in Europe and US. In effect they are supplying a service as opposed to delivering goods, do I still need to produce an EC sales list for her company?

Alison · Alison

Hi Does anyone know whether a Director's Salary of £420 a month counts as part of personal allowance? I never expected to go back to full time employment and have not got a P45. I will still be on my Limited Company payroll as a nominal amount just to cover for insurance of our premises but will be £5 a mont...

Silly Digits · Silly Digits

Hi Does anyone know where I can find 2007-8 tax tables on the internet. Cant find on HMRC site!! Thanks

lor · lor

Hi All, Could you tell me what the correct method of posting payment of ni class 2 (the weekly one) for a self employed person is in the accounts.

BHB · BHB

Yet more information requested re this client who is for some reason VAT registered whilst a long way under the threshold. Managed today to finally get all her AA invoices/statements. Claiming back all the VAT on the lease car as HMRC site states that if a lease car is for the purposes of driving instr...

lor · lor

I sent of a form 64-8 to become an agent for one of my clients, how do you know when you have became an agent and able to complete their self assessment, do HMRC send you a letter to say that you are the agent or do you just go on line and enter the details as normal???? Sorry haven't been in this situation befor...

McSpurren · McSpurren

I have my 1st client who has asked me to do his tax return for a small cupcake business. Their turnover was around 600 for the year 08//09. Outgoings came to roughly 800. Do they still need to do a tx return with such small numbers and if so is there a different way from the huge tax return form as I am only able...

lor · lor

sorry if this is a stupid question, but I want to be clear on the matter: This time it's regards to myself, I am self employed and employed full time also, I am unsure about if I will be needing to pay the weekly nic stamp because when I first set up self employed I applied for the exempt certificate as I hadn'...

lor · lor

Hi all, would you claim Annual Investment Allowance for a laptop for the value of £650.00? this laptop is purely for business.

Sozzybobs · Sozzybobs

Can anyone tell me if there is a time limit on when you can reclaim VAT on purchases? Or do they have to be put through the business accounts in the VAT quarter in which they were bought?

Silly Digits · Silly Digits

Hi I have a self employed client who is a cooking show host. She has to recruit her own team, who would also be self employed themselves. When she meets up for the first time, usually in a cafe, she buys them a coffee/snack. Are these allowable for tax purposes eg recruitment expenses. Also, my client c...

AngelaWBS · AngelaWBS

Hello to you all. Just as a matter of interest, is anybody going to the conference next month.

Mr Topps · Mr Topps

Hello All, I have a client who has a cash rich business but for some reason they have/are stuggling to pay their Paye/Nic's I was wondering if anyone out there knows of any deferall techniques or any business link type help? Kind regards Mr Topps

Tampster · Tampster

I am a motor parts distributor. I supply motor parts parts to end users, via my Dealer network, who is franchised. Occasionally, a body repairer will recieve a car which is un-economical to repair. Lets say it will cost £5,000 to repair, but is only worth £4,800. I, as the parts supplier may decide...

Topic		Started By	Replies	Views	Last Post
	A bit confused - rent vs studio costs (Preview) Hello. I posted a while ago about studio costs in accounts, but am still a bit confused. I hope someone doesn't mind clarifying. My b-i-law lives at home with his parents and pays £200 per month in "rent". He is self employed as an illustrator, and works in one of the rooms of the house as his st...	T P	5	1830	Mon Nov 23 07:51 2009 by T P
	Directors NI contributions (Preview) Hi guys, I hope someone might be able to help me out please?! I'm having a play about with Sage Payroll and I've entered an individual, as a director, for sage to calculate the NI contributions as per the tax tables. Sage calculated this correctly for my fake "month 1" for the employee's NI co...	Tom H P	11	12238	Thu Nov 19 16:26 2009 by BackOfficeGroup
	Tax free allowance - well under last year (Preview) Hi guys, I was just wondering, my brother in law started his own business last year, and his profit for the year was well below the tax free allowance. But because he's been doing his own accounts, he didn't allow for the fact that he had a debtor of 900 quid at the end of the year. He has subsequently includ...	Tom H P	2	1727	Sat Nov 14 08:42 2009 by Tom H P
	Taxed Earnings & Limits (Preview) I was just wondering about the following; lets say a self employed person has income of 23,000 and outgoings of 13,000, the tax free earnings for last year was 6,035 does that mean the person would be taxed on everything over the 6,035 and up to the 23,000 OR is it a case of because they made 10,000 profit...	Suffolker	3	1904	Fri Nov 13 14:48 2009 by Suffolker
	VAT on goods for private use (Preview) A client (Ltd co, VAT reg) has given me all the receipts for his materials to which I will reclaim the appropriate VAT, but he has now told me that a payment that has been banked was for a friend of his, that he purchased some materials for. Just to clarify if reclaiming VAT on materials I would then have acc...	Silly Digits	3	2017	Thu Nov 12 19:59 2009 by semsley
	Adjustments in SAGE (Preview) Hi Need sage professional help. to balance ledgers I need to carry out a number of adjustments where the vat rate when initial transaction was 17.5% and when deleting an entry and re-entering with the correct information the standard rate is now set at 15%. How can I do these adjustments where some tr...	kpm	3	2520	Tue Nov 10 14:43 2009 by BackOfficeGroup
	EC Sales List (Preview) Hi all, Hope all is well with you. My client is an agent for a number of photographers who do a lot of shoots in Europe and US. In effect they are supplying a service as opposed to delivering goods, do I still need to produce an EC sales list for her company?	tayorich	5	2859	Fri Nov 6 13:29 2009 by BackOfficeGroup
	Director's Salary does it count as part of personal allowance (Preview) Hi Does anyone know whether a Director's Salary of £420 a month counts as part of personal allowance? I never expected to go back to full time employment and have not got a P45. I will still be on my Limited Company payroll as a nominal amount just to cover for insurance of our premises but will be £5 a mont...	Alison	2	5833	Wed Nov 4 11:38 2009 by Alison
	2007-8 tax tables (Preview) Hi Does anyone know where I can find 2007-8 tax tables on the internet. Cant find on HMRC site!! Thanks	Silly Digits	2	18787	Wed Nov 4 07:01 2009 by PJC Bookkeeping
	posting ni payments in accounts (Preview) Hi All, Could you tell me what the correct method of posting payment of ni class 2 (the weekly one) for a self employed person is in the accounts.	lor	8	3057	Mon Nov 2 12:09 2009 by lor
	Self Employed Driving Instructor - VAT Registered!!!!!!!! (Preview) Yet more information requested re this client who is for some reason VAT registered whilst a long way under the threshold. Managed today to finally get all her AA invoices/statements. Claiming back all the VAT on the lease car as HMRC site states that if a lease car is for the purposes of driving instr...	BHB	8	8379	Sat Oct 31 14:56 2009 by lor
	Form 64-8 again (Preview) I sent of a form 64-8 to become an agent for one of my clients, how do you know when you have became an agent and able to complete their self assessment, do HMRC send you a letter to say that you are the agent or do you just go on line and enter the details as normal???? Sorry haven't been in this situation befor...	lor	5	3146	Thu Oct 29 12:45 2009 by lor
	Client with very small turnover - Tax Return? (Preview) I have my 1st client who has asked me to do his tax return for a small cupcake business. Their turnover was around 600 for the year 08//09. Outgoings came to roughly 800. Do they still need to do a tx return with such small numbers and if so is there a different way from the huge tax return form as I am only able...	McSpurren	4	4290	Wed Oct 28 09:13 2009 by Wella
	nic payments for self employed (Preview) sorry if this is a stupid question, but I want to be clear on the matter: This time it's regards to myself, I am self employed and employed full time also, I am unsure about if I will be needing to pay the weekly nic stamp because when I first set up self employed I applied for the exempt certificate as I hadn'...	lor	15	7059	Tue Oct 27 13:05 2009 by BackOfficeGroup
	AIA on laptop (Preview) Hi all, would you claim Annual Investment Allowance for a laptop for the value of £650.00? this laptop is purely for business.	lor	2	2544	Tue Oct 27 12:14 2009 by lor
	Reclaiming VAT (Preview) Can anyone tell me if there is a time limit on when you can reclaim VAT on purchases? Or do they have to be put through the business accounts in the VAT quarter in which they were bought?	Sozzybobs	4	4670	Mon Oct 26 23:23 2009 by BHB
	Recruitment costs/incentive trips (Preview) Hi I have a self employed client who is a cooking show host. She has to recruit her own team, who would also be self employed themselves. When she meets up for the first time, usually in a cafe, she buys them a coffee/snack. Are these allowable for tax purposes eg recruitment expenses. Also, my client c...	Silly Digits	8	2864	Fri Oct 23 20:36 2009 by lor
	ICB National Conference (Preview) Hello to you all. Just as a matter of interest, is anybody going to the conference next month.	AngelaWBS	0	1866	Thu Oct 22 09:13 2009 by AngelaWBS
	Client Struggling to pay PAYE/NIC (Preview) Hello All, I have a client who has a cash rich business but for some reason they have/are stuggling to pay their Paye/Nic's I was wondering if anyone out there knows of any deferall techniques or any business link type help? Kind regards Mr Topps	Mr Topps	1	2302	Tue Oct 20 10:34 2009 by farmergiles
	VAT Claimable? (Preview) I am a motor parts distributor. I supply motor parts parts to end users, via my Dealer network, who is franchised. Occasionally, a body repairer will recieve a car which is un-economical to repair. Lets say it will cost £5,000 to repair, but is only worth £4,800. I, as the parts supplier may decide...	Tampster	1	2833	Mon Oct 19 21:19 2009 by Tombombadil
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