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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...
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John the booky
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0
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1635
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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...
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Mrs A
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1
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1797
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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...
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Metatron
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5
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2444
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Self assessment
(Preview)
How to deal if client missed submitting their self assessment
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pbr
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3
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2018
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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...
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Leger
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4
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1840
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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...
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Eva D Maytree
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2
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1713
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Posting a bank payment into Directors private pension fund
(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
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Knighton Bookkeeper
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5
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1730
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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...
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morgwick
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1
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1523
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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....
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Bugsy
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1
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1509
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Early year payroll submission - Xero
(Preview)
Good morning all, We have just paid our first quarters PAYE and noticed that the first two months employers allowance had not been taken into account. On questioning this with HMRC, they informed me that they had off set the first two months against an outstanding balance from the previous year. No on...
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HCJC
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1
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1605
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Australian Employee
(Preview)
Hi Guys, We have an employee who is emigrating to Australia and will continue to work for us remotely. Does anyone know where I can find out about the income tax implications for this employee preferably in basic English as the only thing I can find is in legalese Thanks for any help I can get.
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Riel
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3
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1517
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Any recommendations - or anti-recommendations - for free software compatible with "Making Tax Digital" for VAT?
(Preview)
Hi everyone, As the title says, I am hoping someone here can advise me on what software to use for "Making Tax Digital". My husband and I have a VAT-registered small business (a limited company), which to be honest does very little business these days. HMRC have said that we must start keeping digital...
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tattycat
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1
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1537
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Can I delete a company in the HMRC PAYE Basic Tools??
(Preview)
Does anyone know how to delete a company in Basic Tools?I have inherited a company payroll from another bookkeeper and when she sent the backup it has several other companies in the backup too that are noting to do with me. I have started to get messages about the deadlines missed in these companies for...
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BeeK
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5
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4855
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How to reconcile the VAT with a credit note linked to an invoice paid in a previous finacial year?
(Preview)
Hi Everyone, One of my main clients asked me to refund an invoice they paid me in the 2019 financial year, as they discovered that the total amount they paid, on their accounting system, should have been split into different invoices. They've asked me to repay the full amount, including VAT (£1200),...
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JMWT
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14
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2220
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Business van - business and private use sage recording
(Preview)
Hi, I need a help with recording on sage. We have a business van that is used by one employee only. He is using it for business and private journeys too and pays for all fuel by business card only. When I get receipt for fuel I just record it to 7300 from his business card to claim the VAT. He keeps a truck of all...
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Links
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2
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1674
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Director and shareholder acting as self employed
(Preview)
I did ask this on aweb a while ago but there was little response, most of which I take responsibility for as I didn't go back to the forum for a while so answered one of the questions a couple of weeks later. O appreciate this is an accountancy question more than a bookkeeping question, but I have heard on t...
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Leger
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2
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1509
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VAT on Sales: Just Eat, Deliveroo, Uber Eats
(Preview)
Hi, I receive invoices from these three channels. I can see VAT on commission and admin that I need to pay, but I cannot se VAT breakdown of the revenue (sales). Anyone else has this experience. We are about to be VAT registerd.
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reens80
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3
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5939
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Dealing with supplier invoices dated prior to VAT registration
(Preview)
Hello all, I am so glad I found this forum, there is a lot of good reading on here. My question is...I have a client who has recently gone over the VAT threshold so we have registered for VAT from 01.02.22. He then presented me with some January 22 supplier invoices, how do I deal with the VAT within these...
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sjl1974
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5
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1895
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Reverse import VAT?
(Preview)
Hi just wondering if anyone could help me with how I record the following in Sage please?
An England based standard vat registered Ltd mechanic has purchased some car parts from Germany. The purchase invoice is in GBP and says the price excl vat is £1,624.67 the vat is and total inc vat is £1,624.67. A...
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Pickle
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0
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1430
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Electric Vehicles Tax considerations
(Preview)
Hi All, trying to figure out best possible solution to getting an electric vehicle for both private and business use. Currently due to end my lease with Land Rover and looking at 2 different options. Option 1 and likely (Tesla Model 3 or Model y). Low BIK at 1% and going up 2% but does anyone know the 3 and 4...
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Stuartwantstoknow
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1
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1481
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