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

Blonde Accountant · Blonde Accountant

Hello, a client of mine sells sheds. When the sales order is raised a £300 deposit is paid, but the invoice doesn't get posted for anything upto 6 weeks later when the shed is actually ready for dispatch. It's standard vat, so the vat is only payable on the invoices, but what about the deposits-should se...

twmmwt · twmmwt

We run an events business and at the end of each event we are left with a profit, which we share amongst the partner organisations. If, lets say, the profit is £10k shared between five partners, should each party receive £2k or £2k plus VAT? We have just received an invoice from the first partner for £2k p...

Nikole · Nikole

Good Evening, I have been approached to complete the payroll on a weekly/monthly basis for 10 Clients ranging from 2 employees upto 20 employees. I am currently in the process of pricing the work, but due to Sage's software being quite expensive, so is my quote. Does anyone have any recommendations...

Sammy76 · Sammy76

I have a client who needs to issue a credit note to a customer as the VAT was incorrect (they deal with other countries and this particular company is no longer trading in UK so the VAT on their invoices needs amending). Providing they have their Company Preferences set so VAT is amendable, can they just...

Nikole · Nikole

Hi, I am pricing out a job which includes auto enrolment. Although i process auto enrolment each week, i havent had to set up from scratch. Has anyone set up the pension from the start? I will be using Sage with their add on package so there will be no need for me to caculate any deductions. It will literall...

Nikole · Nikole

Me again! Quick question for anyone who processes payroll as a sole trader. Do you have anyone that you can outsource your payroll to should you fall ill?

Cheshire · Cheshire

Hi I have a file which has a balance on the purchase tax control account of £110.99 which relates back to 1 June 2013. The item falls into the 1 May 2014 year end, which has been completed by the Accountant. Ive drilled back and the cause is due to the VAT element on an invoice being keyed as a journal entr...

Mrs Robotham · Mrs Robotham

Hello I am a newly self-employed bookkeeper and have registration through my professional body for bookkeeping, VAT, payroll and management accounts. I have not had work experience in personal tax and am therefore not yet registered for that. However, a member of my family is self employed a...

Mycroft · Mycroft

Dear All Please can you help? I have a client who has opened an art gallery, he is selling artists work and retaining a commission after forwarding the artist their share. Is his turnover the entire sale price of the item or just the percentage he keeps? He currently is not VAT registered, though this...

Ask Andrina · Ask Andrina

Hi - I had a client to whom recently terminated my services without the contracted notice (this now is a separate issue) as I had uncovered years of undeclared income, which in itself means underpaid VAT, less profit/corp tax and therefore didling his mum (Company Secretary aged 84) out of her profi...

Sammy76 · Sammy76

I've been helping someone out doing their VAT return. They are on FRS and I noticed they were calculating incorrectly whilst doing their yearly books in June. They are CIS registered and were calculating the VAT after taking the 20% CIS instead of calculating the VAT on their total invoice. Anyw...

NATALIA · NATALIA

Hi there, I just doing a bookkeeping for the company, theirs employees got a DEA Debts so we need to deduct some money from their wages. Now, the question is hoe to post them to sage accounts? I can see that the lady who was working before she add a new nominal (7012) CSA&DEA Deductions but I cant wor...

Pennant · Pennant

Hello, Any EIS experts out there, If an investor had 100% of the shares of a company all bought on an EiS / CGT deferral, then that company was dissolved 10 years later with losses, at 100% loss to the investor, what is the Eis possition? is the full deferred value brought back into charge? Thanks

Ravanol · Ravanol

Hi all, I have planning permission to knock down and rebuild a house. An architect is managing the project and we have contractors responding to tenders. The contractor will manage the build, and source subcontractors. I understand that the main contractor will invoice us at zero rate VAT for ser...

Brownem · Brownem

Good evening, I am just looking for some guidance please? I have just taken on a client whose year end I am to complete tomorrow - not a problem. The accountant has forwarded me the year end adjustments for the previous year (2013/14) to input, again not an issue. My problem lies where the client appear...

Shamus · Shamus

Just a quickie to note as we're fast approaching self assessments season (even though I've already filed most of mine). The wording of BIM75010 has changed slightly. It used to state that the amount for use of home included telephone and internet costs in the flat rate deduction for simplified expen...

Leger · Leger

In the BKN weekly update it said this (my emphasis)Digital tax accountsAt the Spring Budget 2015 the government announced proposals for the introduction of personalised digital tax accounts to replace the current annual tax returns system. The government has now announced that companies, unin...

blueeyes · blueeyes

Hi, Please can someone clarify. I currently book keep and pass it onto the clients accountant to complete. However I have a question before I pester them. If a client has invoices dated within the tax year (Y/E 5th April 15) and doesn't pay them until the next tax year, how do I account for these as I under...

JRA · JRA

Hello I may have a new client who needs a monthly payroll of 15 people. I am trying to work out whether to 'invest' in payroll software or outsource to a bureau I have looked at payroo which seems good and cheap and also considered Sage I currently use Sage for normal accounting work If I do it house I wil...

Elaine R · Elaine R

Once P60's have been processed and distributed and later employee leaves. Can you still access details of P60 ie a copy? Requested one for former employer and they said can't keep copies by law.

Topic		Started By	Replies	Views	Last Post
	Sale invoices (Preview) Hello, a client of mine sells sheds. When the sales order is raised a £300 deposit is paid, but the invoice doesn't get posted for anything upto 6 weeks later when the shed is actually ready for dispatch. It's standard vat, so the vat is only payable on the invoices, but what about the deposits-should se...	Blonde Accountant	11	1672	Sun Dec 13 09:39 2015 by Cheshire
	Profit share (Preview) We run an events business and at the end of each event we are left with a profit, which we share amongst the partner organisations. If, lets say, the profit is £10k shared between five partners, should each party receive £2k or £2k plus VAT? We have just received an invoice from the first partner for £2k p...	twmmwt	4	3036	Fri Dec 11 19:56 2015 by JulieS
	Payroll Software advice needed (Preview) Good Evening, I have been approached to complete the payroll on a weekly/monthly basis for 10 Clients ranging from 2 employees upto 20 employees. I am currently in the process of pricing the work, but due to Sage's software being quite expensive, so is my quote. Does anyone have any recommendations...	Nikole	8	4244	Thu Dec 10 14:23 2015 by Princess
	VAT only Credit note (Preview) I have a client who needs to issue a credit note to a customer as the VAT was incorrect (they deal with other countries and this particular company is no longer trading in UK so the VAT on their invoices needs amending). Providing they have their Company Preferences set so VAT is amendable, can they just...	Sammy76	3	2039	Thu Dec 10 09:26 2015 by Sammy76
	Auto Enrolment Set up (Preview) Hi, I am pricing out a job which includes auto enrolment. Although i process auto enrolment each week, i havent had to set up from scratch. Has anyone set up the pension from the start? I will be using Sage with their add on package so there will be no need for me to caculate any deductions. It will literall...	Nikole	6	1429	Wed Dec 9 13:36 2015 by Leger
	Back up cover (Preview) Me again! Quick question for anyone who processes payroll as a sole trader. Do you have anyone that you can outsource your payroll to should you fall ill?	Nikole	3	2792	Wed Dec 9 11:44 2015 by Leger
	Purchase tax control balance query (Preview) Hi I have a file which has a balance on the purchase tax control account of £110.99 which relates back to 1 June 2013. The item falls into the 1 May 2014 year end, which has been completed by the Accountant. Ive drilled back and the cause is due to the VAT element on an invoice being keyed as a journal entr...	Cheshire	7	4990	Tue Dec 8 18:14 2015 by annepebo
	My first personal tax return, may I ask for advice? (Preview) Hello I am a newly self-employed bookkeeper and have registration through my professional body for bookkeeping, VAT, payroll and management accounts. I have not had work experience in personal tax and am therefore not yet registered for that. However, a member of my family is self employed a...	Mrs Robotham	3	930	Tue Dec 8 11:40 2015 by Mrs Robotham
	Art Gallery Income (Preview) Dear All Please can you help? I have a client who has opened an art gallery, he is selling artists work and retaining a commission after forwarding the artist their share. Is his turnover the entire sale price of the item or just the percentage he keeps? He currently is not VAT registered, though this...	Mycroft	4	914	Sun Dec 6 16:34 2015 by JulieS
	How to deal with understating Income etc (Preview) Hi - I had a client to whom recently terminated my services without the contracted notice (this now is a separate issue) as I had uncovered years of undeclared income, which in itself means underpaid VAT, less profit/corp tax and therefore didling his mum (Company Secretary aged 84) out of her profi...	Ask Andrina	9	4851	Sat Dec 5 15:10 2015 by Leger
	Flat rate VAT (Preview) I've been helping someone out doing their VAT return. They are on FRS and I noticed they were calculating incorrectly whilst doing their yearly books in June. They are CIS registered and were calculating the VAT after taking the 20% CIS instead of calculating the VAT on their total invoice. Anyw...	Sammy76	3	4215	Fri Dec 4 14:17 2015 by Sammy76
	DWP Debt Management CSA&DEA Deductions SAGE 50 (Preview) Hi there, I just doing a bookkeeping for the company, theirs employees got a DEA Debts so we need to deduct some money from their wages. Now, the question is hoe to post them to sage accounts? I can see that the lady who was working before she add a new nominal (7012) CSA&DEA Deductions but I cant wor...	NATALIA	3	1461	Wed Dec 2 16:28 2015 by Bucks Bodger
	EIS deferred relief. (Preview) Hello, Any EIS experts out there, If an investor had 100% of the shares of a company all bought on an EiS / CGT deferral, then that company was dissolved 10 years later with losses, at 100% loss to the investor, what is the Eis possition? is the full deferred value brought back into charge? Thanks	Pennant	2	810	Wed Dec 2 08:48 2015 by Pennant
	Zero rate vat on new build puzzler (Preview) Hi all, I have planning permission to knock down and rebuild a house. An architect is managing the project and we have contractors responding to tenders. The contractor will manage the build, and source subcontractors. I understand that the main contractor will invoice us at zero rate VAT for ser...	Ravanol	10	5286	Tue Dec 1 21:57 2015 by FoxAccountancyServices
	VAT adjustments? (Preview) Good evening, I am just looking for some guidance please? I have just taken on a client whose year end I am to complete tomorrow - not a problem. The accountant has forwarded me the year end adjustments for the previous year (2013/14) to input, again not an issue. My problem lies where the client appear...	Brownem	3	4181	Mon Nov 30 23:11 2015 by FoxAccountancyServices
	Use of Home tax update (Preview) Just a quickie to note as we're fast approaching self assessments season (even though I've already filed most of mine). The wording of BIM75010 has changed slightly. It used to state that the amount for use of home included telephone and internet costs in the flat rate deduction for simplified expen...	Shamus	2	926	Sun Nov 29 12:24 2015 by Cheshire
	Digital Tax Accounts (Preview) In the BKN weekly update it said this (my emphasis)Digital tax accountsAt the Spring Budget 2015 the government announced proposals for the introduction of personalised digital tax accounts to replace the current annual tax returns system. The government has now announced that companies, unin...	Leger	3	1023	Sat Nov 28 10:41 2015 by Leger
	Invoices within the tax year but paid in the next (Preview) Hi, Please can someone clarify. I currently book keep and pass it onto the clients accountant to complete. However I have a question before I pester them. If a client has invoices dated within the tax year (Y/E 5th April 15) and doesn't pay them until the next tax year, how do I account for these as I under...	blueeyes	2	954	Thu Nov 26 11:00 2015 by blueeyes
	Payroll - inhouse or outsource (Preview) Hello I may have a new client who needs a monthly payroll of 15 people. I am trying to work out whether to 'invest' in payroll software or outsource to a bureau I have looked at payroo which seems good and cheap and also considered Sage I currently use Sage for normal accounting work If I do it house I wil...	JRA	4	1029	Wed Nov 25 20:13 2015 by FoxAccountancyServices
	Copy of P60 (Preview) Once P60's have been processed and distributed and later employee leaves. Can you still access details of P60 ie a copy? Requested one for former employer and they said can't keep copies by law.	Elaine R	3	1283	Wed Nov 25 10:27 2015 by Leger
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