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

Songhurstadmin · Songhurstadmin

Hi, I'm a trainee bookkeeper and I also run a business with my husband, so this is all a learning curve for me! We are a VAT-registered company and we have started selling goods online via Ebay and we use Xero accounting software. What I can't get my head around is VAT on Ebay sales. I believe Ebay deduc...

Count1314 · Count1314

Bookkeeping for the above in practice? Hi all.....wondering how best to do this. I don't obviously want to amend past months accounts (that have already been reported on) but do obvously want to claim as much VAT as is available to the company in VAT expenses. Not that it matters but it took longer tha...

Jojo50 · Jojo50

I am really confused I have a spreadsheet to monitor my tax and my purchase tax is not balancing . I have printed out the sage report and every invoice I have ticked off and is correct. On the report when I add up every transaction it balances with my spreadsheet yes on nominal codes 2201 I think it is over a £...

DAG · DAG

Hi there my supplier refuses to send me an VAT invoice for exempt service. Do I need a proper VAT invoice for exempt transaction or it can be recorded as exempt without a invoice being provided by supplier. Hope it makes sense. Regards

TartanElephant · TartanElephant

Hi, I was wondering if anyone can help. My husband has just become VAT registered (well from the 1 Nov) and we are going through what we still have as assets at time of registration, so we can reclaim the VAT. I have a query regarding a car that we have on a personal contract hire. We initially paid a deposit...

psprigs · psprigs

My partner and her sister run a clinic, they deal with podiatry /chiropody only, no fancy nail painting services. They have been doing this for around 10 years. They rent the building and pay the usual bills. They are slowing down their clients because they are coming upto the £85k VAT threshold. On th...

digiportal · digiportal

Hi all, I'm using FreeAgent. I recently purchased a new company vehicle (a van) £67k inc. VAT). Due to bank payment limits I didnt transfer in the funds (Owners Equity) to pay for it from my personal account, instead I paid for the vehicle directly (personally). All the VAT receipts and invoices etc. a...

NA_AA · NA_AA

Hi, We are thinking of outsourcing any payroll services our clients may require as this is something we do not want to do. Has anyone had experience of outsourcing payroll? can recommend a payroll provider? and what type of costs to expect? Thanks in advance for your help.

pictures · pictures

Hi, I've been a bit quiet recebtly because its been absolutely manic. But anyway remember last year when Sage Payroll quoted us an exorbitant amount to renew. I got authorisation to change to Moneysoft Payroll Manager and I'm just setting it up. I'm on a free trial until the end of the month and we are g...

FoxAccountancyServices · FoxAccountancyServices

Hey lovelies! Does anyone know how to delete a company in Basic Tools?? I had a client who was a nigtmare with his wages, so I asked him to go to an established payroll firm (you know PAYE isn't my area!)... I sent the payroll bureau the mid year figures, but when I try to delete the company, it says I cannot d...

John the booky · John the booky

Hi John the bookkeeper here with question re how to use Basic PAYE in context of redundancy. Paye basic user manual re leavers says leaver process does not apply to redundancy, but does not appear to contain a section covering it. How do I enter redundancy in Basic PAYE please (if not, what do I do inst...

Mrs A · Mrs A

Hello, This is probably a very silly question - but I can't seem to figure this out on my own. What should the journal be for a wage advance? I usually post the advance to Net Pay as a bank payment - but I don't know what jouranl to post once the advance has been paid back by the employee (deducted from wages o...

Metatron · Metatron

Hi all First post so hope i dont break any posting rules! Ive had a limited company for several years now and have built up capital in it but switched to a perm role after the introduction of IR35 in the private sector. My salary is just below 100k and now im stuck. If i start drawing dividends and salary f...

pbr · pbr

How to deal if client missed submitting their self assessment

Leger · Leger

This is just to test how much I know (or more likely don't know), regarding CGT on property. One of my clients has expressed an interest in selling his FHL. The owner is looking to reduce/eliminate CGT if he sells. The figures are (very) rough. Bought for 100k, selling for 170k, making a capital gain o...

Eva D Maytree · Eva D Maytree

Hi, there seems to be conflicting advice from the various accountants I work with (I'm a freelance bookkeeper) as to the correct VAT rate to use when a receipt/bill is missing from a UK-based supplier, and won't be able to be found. For example, a purchase of fuel is being coded by one accountant as ZR an...

Knighton Bookkeeper · Knighton Bookkeeper

Hi, I'm posting a payment from a Ltd company into the company directors private pension fund. Can anyone advise how to code this in SAGE please. Many thanks for your help M -- Edited by Knighton Bookkeeper on Tuesday 13th of September 2022 05:24:10 PM

morgwick · morgwick

Hi, I was just wondering if anyone can help with the journal for allocating output tax at deregistration on a car that was purchased. The car was only purchased 3 months before deregistering, and input tax was claimed. Am I correct in that I declare output tax on the NBV at the date of deregistering? If s...

Bugsy · Bugsy

Hi! We have a new customer based in Australia, and has instructed us to print and deliver some literature to a UK address, am I right in thinking that I would need to charge VAT as everything has taken place in the UK and nothing will leave the UK? I can't seem to find this particular case on HMRC's website....

K1ngD · K1ngD

Hello, I've been in the construction game for several years now and I've recently taken on a self employed person to help me handle the work load. All this time, the contractors have paid my CIS - which is the 20%. I'm now confused as how to how it translates to paying my lad. Say I invoice £1000 to the contr...

Topic		Started By	Replies	Views	Last Post
	Ebay - VAT on sales (Preview) Hi, I'm a trainee bookkeeper and I also run a business with my husband, so this is all a learning curve for me! We are a VAT-registered company and we have started selling goods online via Ebay and we use Xero accounting software. What I can't get my head around is VAT on Ebay sales. I believe Ebay deduc...	Songhurstadmin	4	1448	Sun Jun 11 09:01 2023 by Artois
	Backdated VAT - First Return (Preview) Bookkeeping for the above in practice? Hi all.....wondering how best to do this. I don't obviously want to amend past months accounts (that have already been reported on) but do obvously want to claim as much VAT as is available to the company in VAT expenses. Not that it matters but it took longer tha...	Count1314	2	1265	Wed May 17 09:47 2023 by No
	Vat not balancing on sage (Preview) I am really confused I have a spreadsheet to monitor my tax and my purchase tax is not balancing . I have printed out the sage report and every invoice I have ticked off and is correct. On the report when I add up every transaction it balances with my spreadsheet yes on nominal codes 2201 I think it is over a £...	Jojo50	2	1544	Mon Mar 27 06:21 2023 by Jack Nicklaus
	VAT exempt invoices (Preview) Hi there my supplier refuses to send me an VAT invoice for exempt service. Do I need a proper VAT invoice for exempt transaction or it can be recorded as exempt without a invoice being provided by supplier. Hope it makes sense. Regards	DAG	5	1788	Tue Mar 14 10:35 2023 by nikita_rai
	First VAT Return - Reclaim Input Tax (Preview) Hi, I was wondering if anyone can help. My husband has just become VAT registered (well from the 1 Nov) and we are going through what we still have as assets at time of registration, so we can reclaim the VAT. I have a query regarding a car that we have on a personal contract hire. We initially paid a deposit...	TartanElephant	5	2101	Fri Mar 10 10:17 2023 by nikita_rai
	podiatry / chiropody VAT exempt business? (Preview) My partner and her sister run a clinic, they deal with podiatry /chiropody only, no fancy nail painting services. They have been doing this for around 10 years. They rent the building and pay the usual bills. They are slowing down their clients because they are coming upto the £85k VAT threshold. On th...	psprigs	3	1483	Tue Jan 17 12:52 2023 by Taxagent
	Freeagent & purchase of vehicle VAT vehicle journal entry (Preview) Hi all, I'm using FreeAgent. I recently purchased a new company vehicle (a van) £67k inc. VAT). Due to bank payment limits I didnt transfer in the funds (Owners Equity) to pay for it from my personal account, instead I paid for the vehicle directly (personally). All the VAT receipts and invoices etc. a...	digiportal	4	1724	Thu Dec 29 17:34 2022 by digiportal
	outsource payroll (Preview) Hi, We are thinking of outsourcing any payroll services our clients may require as this is something we do not want to do. Has anyone had experience of outsourcing payroll? can recommend a payroll provider? and what type of costs to expect? Thanks in advance for your help.	NA_AA	40	3259	Sat Nov 12 12:19 2022 by paysquare
	Payroll Manager - Holiday Pay (Preview) Hi, I've been a bit quiet recebtly because its been absolutely manic. But anyway remember last year when Sage Payroll quoted us an exorbitant amount to renew. I got authorisation to change to Moneysoft Payroll Manager and I'm just setting it up. I'm on a free trial until the end of the month and we are g...	pictures	11	3982	Mon Oct 31 13:52 2022 by Shamus
	Removing a company from HMRC basic tools software (Preview) Hey lovelies! Does anyone know how to delete a company in Basic Tools?? I had a client who was a nigtmare with his wages, so I asked him to go to an established payroll firm (you know PAYE isn't my area!)... I sent the payroll bureau the mid year figures, but when I try to delete the company, it says I cannot d...	FoxAccountancyServices	3	10387	Fri Oct 21 18:04 2022 by John the booky
	Basic PAYE - how to enter redundancy (Preview) Hi John the bookkeeper here with question re how to use Basic PAYE in context of redundancy. Paye basic user manual re leavers says leaver process does not apply to redundancy, but does not appear to contain a section covering it. How do I enter redundancy in Basic PAYE please (if not, what do I do inst...	John the booky	0	1436	Fri Oct 21 17:53 2022 by John the booky
	Wage Advance Help (Preview) Hello, This is probably a very silly question - but I can't seem to figure this out on my own. What should the journal be for a wage advance? I usually post the advance to Net Pay as a bank payment - but I don't know what jouranl to post once the advance has been paid back by the employee (deducted from wages o...	Mrs A	1	1593	Mon Oct 3 19:28 2022 by George Caridgan
	Advice on what to do with money in a limited company (Preview) Hi all First post so hope i dont break any posting rules! Ive had a limited company for several years now and have built up capital in it but switched to a perm role after the introduction of IR35 in the private sector. My salary is just below 100k and now im stuck. If i start drawing dividends and salary f...	Metatron	5	2211	Tue Sep 20 02:30 2022 by Truemanbrown
	Self assessment (Preview) How to deal if client missed submitting their self assessment	pbr	3	1811	Mon Sep 19 12:35 2022 by Truemanbrown
	Capital Gains Tax on FHL. (Preview) This is just to test how much I know (or more likely don't know), regarding CGT on property. One of my clients has expressed an interest in selling his FHL. The owner is looking to reduce/eliminate CGT if he sells. The figures are (very) rough. Bought for 100k, selling for 170k, making a capital gain o...	Leger	4	1629	Sun Sep 18 08:57 2022 by Leger
	Treatment of VAT when supplier paperwork is missing (Preview) Hi, there seems to be conflicting advice from the various accountants I work with (I'm a freelance bookkeeper) as to the correct VAT rate to use when a receipt/bill is missing from a UK-based supplier, and won't be able to be found. For example, a purchase of fuel is being coded by one accountant as ZR an...	Eva D Maytree	2	1508	Fri Sep 16 23:58 2022 by Truemanbrown
	Posting a bank payment into Directors private pension fund pension;SAGE;director (Preview) Hi, I'm posting a payment from a Ltd company into the company directors private pension fund. Can anyone advise how to code this in SAGE please. Many thanks for your help M -- Edited by Knighton Bookkeeper on Tuesday 13th of September 2022 05:24:10 PM	Knighton Bookkeeper	5	1536	Fri Sep 16 23:50 2022 by Truemanbrown
	Output Tax on Assets at Deregistration (Preview) Hi, I was just wondering if anyone can help with the journal for allocating output tax at deregistration on a car that was purchased. The car was only purchased 3 months before deregistering, and input tax was claimed. Am I correct in that I declare output tax on the NBV at the date of deregistering? If s...	morgwick	1	1321	Fri Aug 26 11:33 2022 by Artois
	Company ordering printing work based in Australia but Job done in the UK and delivered in the UK (Preview) Hi! We have a new customer based in Australia, and has instructed us to print and deliver some literature to a UK address, am I right in thinking that I would need to charge VAT as everything has taken place in the UK and nothing will leave the UK? I can't seem to find this particular case on HMRC's website....	Bugsy	1	1310	Fri Aug 26 11:26 2022 by Artois
	CIS query (Preview) Hello, I've been in the construction game for several years now and I've recently taken on a self employed person to help me handle the work load. All this time, the contractors have paid my CIS - which is the 20%. I'm now confused as how to how it translates to paying my lad. Say I invoice £1000 to the contr...	K1ngD	5	1714	Mon Aug 15 17:20 2022 by Fast Eddie
«First < 1 2 3 4 … 177 > Last» \| Page of 177 sorted by