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

SpiderMam · SpiderMam

Hi, we are due a rebate from one of our suppliers. They have asked us to send an invoice for the value. My question is would we charge VAT on this or would VAT be included? Many thanks

Leger · Leger

New sole trader client this year: I've just completed accounts for a business who made a £1250 loss last year. Looking at last years accounts there was no paypal balance included which was in excess of 6k, and if I add this to the opening balances, it turns the loss into a profit for last year. It wont ha...

Leger · Leger

I am just going through some car expenses and there are a couple that (imo) improve a car rather than repair costs etc. Ones for alloy wheels refurbishment and ones for a front spoiler kit. I'm very much inclined to disallow totally but just wanted to know I'm correct before doing so.

Plusside Ltd · Plusside Ltd

I've had a quick look around the threads to see if there are any similar posts to my query but can't find anything. Basically a prospective client was made redundant years ago, took the money and went back to uni 2012 to study psychology which he's just completing (Msc) now it's a completely different...

Samilou67 · Samilou67

Hi, this is going to sound a bit thick but can someone confirm that this is the correct working for the following? Paypal sale gross £200 Flat rate 7.5% £200 / 1.075 = £186.05 VAT = £13.95 Thanks

Mike W · Mike W

Hello all I'm scratching my head on something re a new client! New Ltd Co, y/e Sep 16, catch up job as no bookkeeping done. Client registers for VAT from 1st Oct (this date is shown on Vat cert), however I can see from just a quick scan of bank statements that this is approx 3 months late so there is 9 months of...

BRETT78 · BRETT78

PTAX question.... Newly self employed, revenue 7000, expenses 3000. Can the 7000 be wiped out by personal allowance and the 3000 expenses be carried forward as a loss?

Lyndsey · Lyndsey

Hi all I am trying to simplify my monthly reports process. At the moment its such a pain to get a monthly P&L with each month itemised out of VT. I also make it a bit more complicated as the client I am looking at is Flat Rate VAT, and I record as normal and manually produce VAT returns to make sure we are b...

GillyP · GillyP

Hello everyone, I have a client who took over a failing company with the agreement that the old debts would be paid off eventually. The debts are from before the current financial year, so I am pondering over where to post these debt payments to on sage. I don't have the original invoices, and presum...

Doll84 · Doll84

Apologies up front as I'm just going to wing it here in the hopes that some of you may be able to help or offer some insight.. I work for an organisation that have no HR department and payroll is done by the manager. To cut a long story short I have just started my maternity leave. I am paid monthly and work 20 h...

Leger · Leger

Client updated HMRC with new address in October which shows up on my online agent account, but on SA it still shows old address. Should I update on SA or leave it as it is.

Monique · Monique

I would be very grateful if anyone could explain to me the partial exemption codes on Sage:T13 - Use for all other expenditure on which VAT is charged, that's expenditure not relating or attributable to either vatable or exempt income. In other words, all expenditure that is 20% VAT but is not allocat...

Blonde Accountant · Blonde Accountant

Hi, I have a client who has employed a 22 year old last July on a salary basis, however lately her timekeeping is quite horrendous as she has some health issues. My client wants to change her contract to hourly paid. She is currently on £12k for 32 hours plus a day at college, but she's not getting on at coll...

lornabookkeeper · lornabookkeeper

Hi, a client (who prepares her own Self Assessment - I generally just keep her books tidy to save her time) has asked me if I can help with her husband's books (I know very little about his turnover etc but meeting tomorrow night). He has just purchased a van on HP and wants my help with how to show it. Ther...

woody88 · woody88

Evening all I am working on my own for the next few days as my boss is on holiday and would like to get some form of answer to try to impress both the client and my perspective boss. I have been working on a CIS client today and they have asked me how hard it is to change to Gross Payment Status as they are getti...

Joe 123 · Joe 123

Hi everyone, Help/advice needed please. I'm doing the end of year accounts for a PLC that is registered as a CIC (Community Interest Company) and is a "not-for-profit" i.e all profit is re-invested into the company activities. Normally CICs ARE liable to CT on all profits regardless of this "not-fo...

Katka · Katka

Hi I would like to set my own bookkeeping business and would appreciate help with the following please: Which software to use? So much on the market. How to find new clients? Would like to do course on tax returns - any recommendations? If unsure of anything where can i obtain help and advise? ...

Leger · Leger

Just doing a client's tax return and I've got receipts that should have been included in last years tax return. Is there a figure up to what can be treated as non material and included in this years returns or is it a an amendment to previous return if worthwhile. Amount I have is £465 (4 receipts) so abo...

anotherconfusedone · anotherconfusedone

Hi all, I have a doubt and I'd like to pick your brain please. I'm trying to understand if the new Personal Saving Allowance (PSA) is in addition to the 0% Starting Rate on Savings (SRS) or if the two work in conjuction in the year 2016/17. I have checked the HMRC guidelines, but I can't find any mention or e...

BazzaS · BazzaS

I am a bookkeeper for a small limited company. Last year we calculated and provided for £11,616.67 for corporation tax. The payment advice from HMRC was for £11,616.60 - some 7p short - but confirmed that this was the amount they want. The amount as advised by HMRC has been paid to them. This leaves me 7p...

Topic		Started By	Replies	Views	Last Post
	VAT on Rebates (Preview) Hi, we are due a rebate from one of our suppliers. They have asked us to send an invoice for the value. My question is would we charge VAT on this or would VAT be included? Many thanks	SpiderMam	2	5952	Tue Jan 31 17:16 2017 by leshoward
	Paypal balance not included in last years accounts. (Preview) New sole trader client this year: I've just completed accounts for a business who made a £1250 loss last year. Looking at last years accounts there was no paypal balance included which was in excess of 6k, and if I add this to the opening balances, it turns the loss into a profit for last year. It wont ha...	Leger	2	872	Mon Jan 30 15:00 2017 by Leger
	Expenses to improve a car (Preview) I am just going through some car expenses and there are a couple that (imo) improve a car rather than repair costs etc. Ones for alloy wheels refurbishment and ones for a front spoiler kit. I'm very much inclined to disallow totally but just wanted to know I'm correct before doing so.	Leger	2	851	Fri Jan 27 17:23 2017 by Leger
	How far can you back date course/uni fees for a sole trader (Preview) I've had a quick look around the threads to see if there are any similar posts to my query but can't find anything. Basically a prospective client was made redundant years ago, took the money and went back to uni 2012 to study psychology which he's just completing (Msc) now it's a completely different...	Plusside Ltd	2	829	Fri Jan 27 09:16 2017 by Plusside Ltd
	calculating VAT manually (Preview) Hi, this is going to sound a bit thick but can someone confirm that this is the correct working for the following? Paypal sale gross £200 Flat rate 7.5% £200 / 1.075 = £186.05 VAT = £13.95 Thanks	Samilou67	3	803	Thu Jan 26 15:25 2017 by abacus12345
	Late VAT Registration & VT (Preview) Hello all I'm scratching my head on something re a new client! New Ltd Co, y/e Sep 16, catch up job as no bookkeeping done. Client registers for VAT from 1st Oct (this date is shown on Vat cert), however I can see from just a quick scan of bank statements that this is approx 3 months late so there is 9 months of...	Mike W	2	919	Thu Jan 26 14:52 2017 by Mike W
	loss question (Preview) PTAX question.... Newly self employed, revenue 7000, expenses 3000. Can the 7000 be wiped out by personal allowance and the 3000 expenses be carried forward as a loss?	BRETT78	4	1029	Wed Jan 25 12:17 2017 by Leger
	VT Reports (Preview) Hi all I am trying to simplify my monthly reports process. At the moment its such a pain to get a monthly P&L with each month itemised out of VT. I also make it a bit more complicated as the client I am looking at is Flat Rate VAT, and I record as normal and manually produce VAT returns to make sure we are b...	Lyndsey	2	776	Tue Jan 24 17:45 2017 by Cheshire
	Payment of debts of old company (Preview) Hello everyone, I have a client who took over a failing company with the agreement that the old debts would be paid off eventually. The debts are from before the current financial year, so I am pondering over where to post these debt payments to on sage. I don't have the original invoices, and presum...	GillyP	1	760	Tue Jan 24 17:43 2017 by Cheshire
	In laymans terms can any of you professionals shed some light? (Preview) Apologies up front as I'm just going to wing it here in the hopes that some of you may be able to help or offer some insight.. I work for an organisation that have no HR department and payroll is done by the manager. To cut a long story short I have just started my maternity leave. I am paid monthly and work 20 h...	Doll84	6	857	Tue Jan 24 17:27 2017 by Cheshire
	Changing address details when HMRC are already aware (Preview) Client updated HMRC with new address in October which shows up on my online agent account, but on SA it still shows old address. Should I update on SA or leave it as it is.	Leger	2	1136	Thu Jan 19 13:44 2017 by Leger
	VAT Partial exemption codes on Sage (Preview) I would be very grateful if anyone could explain to me the partial exemption codes on Sage:T13 *- Use for all other expenditure on which VAT is charged, that's expenditure not relating or attributable to either vatable or exempt income.* In other words, all expenditure that is 20% VAT but is not allocat...	Monique	2	2396	Tue Jan 17 10:11 2017 by Monique
	Salary paid to hourly (Preview) Hi, I have a client who has employed a 22 year old last July on a salary basis, however lately her timekeeping is quite horrendous as she has some health issues. My client wants to change her contract to hourly paid. She is currently on £12k for 32 hours plus a day at college, but she's not getting on at coll...	Blonde Accountant	3	1137	Sun Jan 15 13:34 2017 by Cheshire
	HP Balloon payment on a van (Preview) Hi, a client (who prepares her own Self Assessment - I generally just keep her books tidy to save her time) has asked me if I can help with her husband's books (I know very little about his turnover etc but meeting tomorrow night). He has just purchased a van on HP and wants my help with how to show it. Ther...	lornabookkeeper	5	2681	Sat Jan 14 12:01 2017 by abacus12345
	Gross Payment Status (CIS Scheme) (Preview) Evening all I am working on my own for the next few days as my boss is on holiday and would like to get some form of answer to try to impress both the client and my perspective boss. I have been working on a CIS client today and they have asked me how hard it is to change to Gross Payment Status as they are getti...	woody88	6	6651	Thu Jan 12 19:02 2017 by Cheshire
	CT on donations to CIC (Preview) Hi everyone, Help/advice needed please. I'm doing the end of year accounts for a PLC that is registered as a CIC (Community Interest Company) and is a "not-for-profit" i.e all profit is re-invested into the company activities. Normally CICs ARE liable to CT on all profits regardless of this "not-fo...	Joe 123	1	908	Wed Jan 11 23:11 2017 by Cheshire
	Tax return and new business (Preview) Hi I would like to set my own bookkeeping business and would appreciate help with the following please: Which software to use? So much on the market. How to find new clients? Would like to do course on tax returns - any recommendations? If unsure of anything where can i obtain help and advise? ...	Katka	1	748	Tue Jan 10 00:18 2017 by Cheshire
	Receipts received after tax return submitted (Preview) Just doing a client's tax return and I've got receipts that should have been included in last years tax return. Is there a figure up to what can be treated as non material and included in this years returns or is it a an amendment to previous return if worthwhile. Amount I have is £465 (4 receipts) so abo...	Leger	5	921	Mon Jan 9 19:36 2017 by Cheshire
	0% starting rate on savings income (Preview) Hi all, I have a doubt and I'd like to pick your brain please. I'm trying to understand if the new Personal Saving Allowance (PSA) is in addition to the 0% Starting Rate on Savings (SRS) or if the two work in conjuction in the year 2016/17. I have checked the HMRC guidelines, but I can't find any mention or e...	anotherconfusedone	1	798	Sat Jan 7 14:25 2017 by Cheshire
	Corporation Tax difference (Preview) I am a bookkeeper for a small limited company. Last year we calculated and provided for £11,616.67 for corporation tax. The payment advice from HMRC was for £11,616.60 - some 7p short - but confirmed that this was the amount they want. The amount as advised by HMRC has been paid to them. This leaves me 7p...	BazzaS	1	784	Wed Jan 4 18:47 2017 by Cheshire
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