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

Leger · Leger

I've got my first retail customer on VAT! Sods law she went over the threshold (by £21!!) on the 31st July, so I need to register her pronto. On the retail scheme can we log cash and credit card sales, calculating VAT on a daily basis, and the paypal sales as a single figure on a monthly basis, as we do now? ...

Purple · Purple

Hi I have a client that runs a pub. They were left in a mess by their previous bookkeeper so I am in the process of bringing everything up to date. I have an issue with their VAT return though. I took over from the 1st of June and the VAT period runs from May to July. Whilst everything is done for June and July, t...

vatreadiness · vatreadiness

Hi, I have query regarding joining a VAT Group. If a company joins a VAT Group does it need to file Final VAT Return as in case of deregistration. In that Final VAT Return, is it necessary to charge VAT on these 3 following deemed supplies in addition to normal supplies: 1. Stocks of goods unsold2.Fi...

Blonde Accountant · Blonde Accountant

Hello, One of my wages clients pay sick pay at the employees normal rate for upto 10 days in a year. For the first time ever an employee has exceeded that, will they now go to SSP and would the starting date be the last of the 10 days paid? For example, they have taken the whole of August so far and the end of Jul...

allisont · allisont

Hi all can anyone walk me through the entries to record in VT Hoping to have a stock in hand figure at all times - but going round in circles at the moment Have found some other software but donât think it will be mtd compliant Thanks in advance for any ideas Allison

allisont · allisont

Hi All.. My client buys salvage, non runners from Online Vehicle Auction - he uses the Marginal Rate scheme. An example purchase invoice is... vehicle price £3650 Buyers premium £330.50 VAT on charges £66.10 Net total £3980.50 VAT total £66.10 Invoice Total £4046.60 Client's Stock books shows p...

Artois · Artois

Don't know if anyone else has heard but there is a post on Aweb that is saying that VT+ will no longer be suitable once MTD comes into play I know a lot of people on here use it so it might be worth having a read up on it

Leger · Leger

A bit of a sad day today as my first client ceases to be one. He's been with me 9 years (gosh is that how long I've been going?) I've never done a cessation before and just a couple of questions. There is £12k sat in the bank account as at 28th February 2018. I presume I leave that as is? No trading done after t...

Corry · Corry

Hi, I maintain the accounts for a landscaper and he has very recently started using sub-contractors. He only works for General Joe Public, so my question is, does general landscaping fall in the prevue of the construction scheme? I am also trying to get hold of someone from the CIS Helpline for them to...

Cheshire · Cheshire

OMG - Smacking my head against a wall with HSBC this morning! Can anyone confirm if I have this correct, or if I have truely and totally lost the plot. Entity concerned in UK (england & Wales) regsitered, private Limited company, all UK participants, all income from UK sources, probably 98% of in...

Purple · Purple

Hi I have just taken over the bookkeeping and payroll for a pub. I have set them up on Xero and also set up an auto enrolment account with Smart pensions. All is working just fine with the exception of one employee. He works 37 hours a week at £8 an hour. His opening balances (I took over after week 8) were gro...

Yendon · Yendon

Hello! :) I've started my own business in the last few months, and since starting I haven't paid myself at all - we've been living on my wife's wages (which are more than enough to be sustainable) and finally we will be back to 2 incomes - however I'm not totally sure on how it all works and can't seem to find...

Leger · Leger

Time to wake up after your week long sleep folks!!! Can't believe that the forum has been this dead. Taxi Plate introduced to Ltd Co at 11.25k and amortised over 20 years. Plate sold for 17k so 5.75k profit made, which I understand will be taxed at CT rate after allowing for inflation. Amortisation o...

-Bee- · -Bee-

Hello Please can someone advise whether there is an easier way to process a clients VAT without having to go through the arduous process with HMRC?? I have not yet had to process another clients VAT until now, I have registered as a Non VAT Agent, I have received numerous emails from HMRC/Government...

akd1961 · akd1961

Hi Hoping someone can help we are a small building company our builder have started to work away and we were planning to give them £25 per night to cove meals and drinks what is the best way to deal with this, I have applied for a BSR which replaces the dispensation, but I have never done expenses before. An...

Leger · Leger

This should probably be in the FFS thread but according to my client he can opt out of CIS simply by writing a letter to the contractor. He is a new Ltd Co and he rang me in a panic a couple of weeks ago saying that the contractor was asking him for a UTR No so the Ltd Co could be verified for CIS. He said he hadn't...

Claire492 · Claire492

Hi I am checking the account before running year end. We made some payments whcih were due in the 17/18 tax year late. The actual payments were not made until this tax year 18/19. I have processed the bank payment entries with the date the payment was made (ie 18/19) and not the year it was due in (17/18)...

jillemily · jillemily

My husband and I have a partnership, can I start paying myself through PAYE as an employee?

Nikole · Nikole

Hello, Sage 50 Payroll does not let you encrypt any generic reports, ie P60'S, P45'S which is not GDPR complaint if sending via email. P60'S aren't a problem as i am now using Sage online payslips but P45's i am having to post and some employees prefer to be sent electronically. Does anyone have any rec...

Nikole · Nikole

Good Evening Everyone Currently i take back ups of payroll after every payroll process and back ups of the accounts after every use. I back up to a USB flash drive and also to google drive but i am now finding that these back ups are taking up a lot of space of both forms of back up. So my question is how long to...

Topic		Started By	Replies	Views	Last Post
	VAT Retail Scheme (Preview) I've got my first retail customer on VAT! Sods law she went over the threshold (by £21!!) on the 31st July, so I need to register her pronto. On the retail scheme can we log cash and credit card sales, calculating VAT on a daily basis, and the paypal sales as a single figure on a monthly basis, as we do now? ...	Leger	9	1713	Mon Sep 10 23:28 2018 by Leger
	VAT Return without full data (Preview) Hi I have a client that runs a pub. They were left in a mess by their previous bookkeeper so I am in the process of bringing everything up to date. I have an issue with their VAT return though. I took over from the 1st of June and the VAT period runs from May to July. Whilst everything is done for June and July, t...	Purple	5	1224	Fri Aug 31 13:55 2018 by Purple
	JOINING VAT GROUP (Preview) Hi, I have query regarding joining a VAT Group. If a company joins a VAT Group does it need to file Final VAT Return as in case of deregistration. In that Final VAT Return, is it necessary to charge VAT on these 3 following deemed supplies in addition to normal supplies: 1. Stocks of goods unsold2.Fi...	vatreadiness	6	1645	Tue Aug 28 10:17 2018 by leshoward
	Sick pay help please (Preview) Hello, One of my wages clients pay sick pay at the employees normal rate for upto 10 days in a year. For the first time ever an employee has exceeded that, will they now go to SSP and would the starting date be the last of the 10 days paid? For example, they have taken the whole of August so far and the end of Jul...	Blonde Accountant	7	1495	Wed Aug 22 10:17 2018 by Leger
	Marginal rate s/hand cars and VT Transactions recording (Preview) Hi all can anyone walk me through the entries to record in VT Hoping to have a stock in hand figure at all times - but going round in circles at the moment Have found some other software but donât think it will be mtd compliant Thanks in advance for any ideas Allison	allisont	4	1384	Mon Aug 20 17:15 2018 by allisont
	Margin Rate Online Vehicle Auction - Stock Price query (Preview) Hi All.. My client buys salvage, non runners from Online Vehicle Auction - he uses the Marginal Rate scheme. An example purchase invoice is... vehicle price £3650 Buyers premium £330.50 VAT on charges £66.10 Net total £3980.50 VAT total £66.10 Invoice Total £4046.60 Client's Stock books shows p...	allisont	3	1243	Mon Aug 20 17:14 2018 by Cheshire
	VT+ and MTD (Preview) Don't know if anyone else has heard but there is a post on Aweb that is saying that VT+ will no longer be suitable once MTD comes into play I know a lot of people on here use it so it might be worth having a read up on it	Artois	25	4623	Sun Aug 19 19:43 2018 by Leger
	Final Accounts (Preview) A bit of a sad day today as my first client ceases to be one. He's been with me 9 years (gosh is that how long I've been going?) I've never done a cessation before and just a couple of questions. There is £12k sat in the bank account as at 28th February 2018. I presume I leave that as is? No trading done after t...	Leger	2	1218	Sat Aug 18 13:09 2018 by Cheshire
	General Landscaper & CIS (Preview) Hi, I maintain the accounts for a landscaper and he has very recently started using sub-contractors. He only works for General Joe Public, so my question is, does general landscaping fall in the prevue of the construction scheme? I am also trying to get hold of someone from the CIS Helpline for them to...	Corry	22	5057	Fri Aug 17 07:41 2018 by Cheshire
	FATCA - Foreign Account Tax Compliance Act (Preview) OMG - Smacking my head against a wall with HSBC this morning! Can anyone confirm if I have this correct, or if I have truely and totally lost the plot. Entity concerned in UK (england & Wales) regsitered, private Limited company, all UK participants, all income from UK sources, probably 98% of in...	Cheshire	2	1201	Wed Aug 15 09:48 2018 by Cheshire
	PAYE on a 4 weekly pay cycle (Preview) Hi I have just taken over the bookkeeping and payroll for a pub. I have set them up on Xero and also set up an auto enrolment account with Smart pensions. All is working just fine with the exception of one employee. He works 37 hours a week at £8 an hour. His opening balances (I took over after week 8) were gro...	Purple	2	1387	Wed Aug 15 07:19 2018 by Purple
	Newly self-employed - where am I going to pay income tax + more? (Preview) Hello! :) I've started my own business in the last few months, and since starting I haven't paid myself at all - we've been living on my wife's wages (which are more than enough to be sustainable) and finally we will be back to 2 incomes - however I'm not totally sure on how it all works and can't seem to find...	Yendon	2	1220	Tue Aug 14 22:58 2018 by Leger
	Amortisation of intangible asset in Ltd Company. Now sold and profit made. Question arising (Preview) Time to wake up after your week long sleep folks!!! Can't believe that the forum has been this dead. Taxi Plate introduced to Ltd Co at 11.25k and amortised over 20 years. Plate sold for 17k so 5.75k profit made, which I understand will be taxed at CT rate after allowing for inflation. Amortisation o...	Leger	6	1181	Fri Aug 10 00:19 2018 by Leger
	Non VAT Registered Agent (Preview) Hello Please can someone advise whether there is an easier way to process a clients VAT without having to go through the arduous process with HMRC?? I have not yet had to process another clients VAT until now, I have registered as a Non VAT Agent, I have received numerous emails from HMRC/Government...	-Bee-	2	1063	Sat Aug 4 11:05 2018 by Cheshire
	Expenses and benefits while working away (Preview) Hi Hoping someone can help we are a small building company our builder have started to work away and we were planning to give them £25 per night to cove meals and drinks what is the best way to deal with this, I have applied for a BSR which replaces the dispensation, but I have never done expenses before. An...	akd1961	5	1158	Thu Aug 2 15:26 2018 by Cheshire
	Opting out of CIS (Preview) This should probably be in the FFS thread but according to my client he can opt out of CIS simply by writing a letter to the contractor. He is a new Ltd Co and he rang me in a panic a couple of weeks ago saying that the contractor was asking him for a UTR No so the Ltd Co could be verified for CIS. He said he hadn't...	Leger	7	2418	Fri Jul 27 09:48 2018 by pictures
	Paye HMRC payments (Preview) Hi I am checking the account before running year end. We made some payments whcih were due in the 17/18 tax year late. The actual payments were not made until this tax year 18/19. I have processed the bank payment entries with the date the payment was made (ie 18/19) and not the year it was due in (17/18)...	Claire492	2	867	Thu Jul 26 22:08 2018 by Leger
	PAYE for partnership (Preview) My husband and I have a partnership, can I start paying myself through PAYE as an employee?	jillemily	7	1354	Wed Jul 18 18:57 2018 by Cheshire
	How do you encrypt your documents in Sage 50 Payroll (Preview) Hello, Sage 50 Payroll does not let you encrypt any generic reports, ie P60'S, P45'S which is not GDPR complaint if sending via email. P60'S aren't a problem as i am now using Sage online payslips but P45's i am having to post and some employees prefer to be sent electronically. Does anyone have any rec...	Nikole	6	2113	Sun Jul 8 19:53 2018 by Nikole
	Back ups of records (Preview) Good Evening Everyone Currently i take back ups of payroll after every payroll process and back ups of the accounts after every use. I back up to a USB flash drive and also to google drive but i am now finding that these back ups are taking up a lot of space of both forms of back up. So my question is how long to...	Nikole	7	1140	Sun Jul 8 11:09 2018 by Cheshire
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