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

Shamus · Shamus

http://www.book-keepers.org.uk/t62264820/site-ethics/

Blonde Accountant · Blonde Accountant

Hi I was wondering if I could ask anyone's advice please? I know that the allowance cannot be claimed if youre a company with only one employee paid above the Class 1 National Insurance secondary threshold, which is £175 p/w or £758 p/m. Does it matter if, two non director employees are paid the same...

brightsky18 · brightsky18

Hello all, A newbie here. Trainee bookkeeper. I think this question has been asked. I am trying to register a director for self employment. One of the tick boxes does ask if you are a director. I am going to have another go at form tomorrow. My question is can directors be registered as self employed or w...

Trojan1970 · Trojan1970

Hi- I'm hoping for some help please. I am about to take on a payroll where the business currently offers transport to various work sites for the workers, and then deducts/recoups the cost of providing transport to work from the workers. It is not compulsory for the workers to use the company transpor...

torracj · torracj

Good Afternoon All, We support a few charities and I am coming to process the in Quickbooks, we are a limited company We sent a cash payment to a charity and I am wondering what I key for VAT, No Vat, Exempt or zero rated? We also purchase toys/ selection boxes / toiletries / clothing to send to a children's...

Diona · Diona

Hello, Do you know if we can send the declaration for 2024-25 now or wait for 6th April 2024? Xero payroll allows you to send it now, is HMRC going to reject it?

Mickey52 · Mickey52

I am new to bookkeeping and would like some advice I have a VAT receipt that is handwritten and meets all of the usual criteria, however it doesn't include an invoice number. The receipt is for over £250.00 and a till receipt is also attached as proof of payment. Can I still reclaim the VAT?

Diona · Diona

Hello all, I hope you will be able to help. Is it ok to clear very old creditors balances from the ledger? If the amount are real confirmed balances do we need to keep them on the ledger or we can clear them after 6 months? Thank you!

Eva D Maytree · Eva D Maytree

Hi all, my client would like to offer his employees the option to take a bonus as cash (through payroll) or to use it to top up their pension. Can the employer do this by topping up the employer contribution as a one-off or does it have to go through as an employee additional contribution, thus impacting...

G905ALR · G905ALR

Hi, please could you offer some advise on a payroll topic. Im fairly new to this, so please bear with me. We reimburse employees expenses through payroll but how do I process this through the payroll journal or should I post the payroll journal and then a separate journal to record the expenses? Many...

Lusk · Lusk

Hi All, I've had a complete mental block and I am hoping you can assist. A software licence was purchased from a country outside the UK so there is no VAT on it. We will just say this is for £800.00. The same company who bought the software has sold this on for, say, £900.00 plus VAT so £180.00 in output VAT...

Leila77 · Leila77

Hey guys, Seasonal greeting and best wishes for 2024!! Could you, please, help me? The Company migrated to a new software - Sage 50 Clouds in the mid of 2023. Transactions with the wrong VAT codes (Postponed VAT Code T39, T40, T43 in ) were posted to Sage 50. And as far as I understood they were either all...

Josh92 · Josh92

Hi all,Im a startup founder and chartered accountant. I got frustrated when doing my own bookkeeping that I would often second guess myself when working out the VAT treatment for transactionsSo. being a tech startup founder I created a VAT Bot to help me.Its a totally free tool and I only released it t...

Wombat · Wombat

Morning Everyone Hope you can help. I have a client which is a partnership and they are cash based. Last year they had a lost, this year a profit. Can I carry the loss forward to use in this years self assessment? (I was under the impression that if you were cash based you could not use the previous years los...

Wombat · Wombat

Hi I have a client who is a dog walker/boarder and they are cash based. They bought a van for the business in July 22. Can I use part of the cost of the Van as capital allowance for 22/23 to reduce the tax bill and the rest for 23/24? Thanks

SecondTrader · SecondTrader

My understanding is the Revenue figure excludes VAT. I have a customer on the VAT Flat Rate Scheme paying 10%. So they invoice a customer showing a cost of £100 net plus 20% VAT giving a total cost to the customer of £120. Under the Flat Rate Scheme the VAT liability is 10% of the £120 = £12. So is the Rev...

tonys · tonys

Hi Could anyone cast there eye over this for 22/23 YE? I am (pretty) confident with the Dividends but not the Tax due on Pension income.Gross Income from State Pension10,926.00 Gross Income from Teachers Pension25,114.00 Dividend income32,804.00 Total Income 68,844.00 Personal Allowa...

Hana NB · Hana NB

Hi All, I hope you can help. I am preparing a Vat return for a client and came across something rather odd. There are quite a large number of historic, unreconciled VAT transactions which should ideally be included with my next VAT submission. The problem is that the first 3 quarters VAT returns in the...

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...

Topic		Started By	Replies	Views	Last Post
	STICKY: Before Posting (closed) (Preview) http://www.book-keepers.org.uk/t62264820/site-ethics/	Shamus	0	7312	Sat Jun 11 15:08 2016 by Shamus
	NIC Allowance (Preview) Hi I was wondering if I could ask anyone's advice please? I know that the allowance cannot be claimed if youre a company with only one employee paid above the Class 1 National Insurance secondary threshold, which is £175 p/w or £758 p/m. Does it matter if, two non director employees are paid the same...	Blonde Accountant	2	315	Mon Apr 8 20:43 2024 by Blonde Accountant
	Director as a self emplyed (Preview) Hello all, A newbie here. Trainee bookkeeper. I think this question has been asked. I am trying to register a director for self employment. One of the tick boxes does ask if you are a director. I am going to have another go at form tomorrow. My question is can directors be registered as self employed or w...	brightsky18	0	214	Thu Apr 4 15:56 2024 by brightsky18
	Travel Costs Deducted from Workers (Preview) Hi- I'm hoping for some help please. I am about to take on a payroll where the business currently offers transport to various work sites for the workers, and then deducts/recoups the cost of providing transport to work from the workers. It is not compulsory for the workers to use the company transpor...	Trojan1970	1	346	Sun Mar 31 21:30 2024 by Lewisosh
	VAT on charitable donations (Preview) Good Afternoon All, We support a few charities and I am coming to process the in Quickbooks, we are a limited company We sent a cash payment to a charity and I am wondering what I key for VAT, No Vat, Exempt or zero rated? We also purchase toys/ selection boxes / toiletries / clothing to send to a children's...	torracj	2	434	Thu Feb 29 09:24 2024 by torracj
	Employment Allowance for 2024-2025 (Preview) Hello, Do you know if we can send the declaration for 2024-25 now or wait for 6th April 2024? Xero payroll allows you to send it now, is HMRC going to reject it?	Diona	2	542	Wed Feb 28 17:34 2024 by jammidodger
	VAT Receipt - Can I still reclaim (Preview) I am new to bookkeeping and would like some advice I have a VAT receipt that is handwritten and meets all of the usual criteria, however it doesn't include an invoice number. The receipt is for over £250.00 and a till receipt is also attached as proof of payment. Can I still reclaim the VAT?	Mickey52	1	362	Mon Feb 26 15:53 2024 by BooksByCharlotte
	Principles of writing off old creditors (Preview) Hello all, I hope you will be able to help. Is it ok to clear very old creditors balances from the ledger? If the amount are real confirmed balances do we need to keep them on the ledger or we can clear them after 6 months? Thank you!	Diona	0	411	Sat Feb 3 18:57 2024 by Diona
	Pension - Topping Up Employer Contribution (Preview) Hi all, my client would like to offer his employees the option to take a bonus as cash (through payroll) or to use it to top up their pension. Can the employer do this by topping up the employer contribution as a one-off or does it have to go through as an employee additional contribution, thus impacting...	Eva D Maytree	3	1401	Mon Jan 29 23:03 2024 by Diona
	Employee expense reimbursement through payroll (Preview) Hi, please could you offer some advise on a payroll topic. Im fairly new to this, so please bear with me. We reimburse employees expenses through payroll but how do I process this through the payroll journal or should I post the payroll journal and then a separate journal to record the expenses? Many...	G905ALR	0	394	Thu Jan 25 23:21 2024 by G905ALR
	VAT on Purchase & Sales (Preview) Hi All, I've had a complete mental block and I am hoping you can assist. A software licence was purchased from a country outside the UK so there is no VAT on it. We will just say this is for £800.00. The same company who bought the software has sold this on for, say, £900.00 plus VAT so £180.00 in output VAT...	Lusk	0	446	Wed Jan 24 21:57 2024 by Lusk
	Wrong VAT code, VAT Reversing entries, Sage 50 Cloud #VAT Codes #Sage 50 #VAT Reversing Entries (Preview) Hey guys, Seasonal greeting and best wishes for 2024!! Could you, please, help me? The Company migrated to a new software - Sage 50 Clouds in the mid of 2023. Transactions with the wrong VAT codes (Postponed VAT Code T39, T40, T43 in ) were posted to Sage 50. And as far as I understood they were either all...	Leila77	1	583	Thu Jan 11 13:17 2024 by YouNeedTo
	Free AI tool for working out UK VAT treatment when bookkeeping. VAT Bot AI (Preview) Hi all,Im a startup founder and chartered accountant. I got frustrated when doing my own bookkeeping that I would often second guess myself when working out the VAT treatment for transactionsSo. being a tech startup founder I created a VAT Bot to help me.Its a totally free tool and I only released it t...	Josh92	0	623	Fri Dec 22 10:03 2023 by Josh92
	Cash Based - Losses Self Assessment (Preview) Morning Everyone Hope you can help. I have a client which is a partnership and they are cash based. Last year they had a lost, this year a profit. Can I carry the loss forward to use in this years self assessment? (I was under the impression that if you were cash based you could not use the previous years los...	Wombat	8	1140	Mon Oct 30 13:00 2023 by Artois
	Cash Basis - Capital Allowance (Preview) Hi I have a client who is a dog walker/boarder and they are cash based. They bought a van for the business in July 22. Can I use part of the cost of the Van as capital allowance for 22/23 to reduce the tax bill and the rest for 23/24? Thanks	Wombat	2	1083	Mon Sep 25 11:17 2023 by Wombat
	Revenue figure when using Flat Rate VAT (Preview) My understanding is the Revenue figure excludes VAT. I have a customer on the VAT Flat Rate Scheme paying 10%. So they invoice a customer showing a cost of £100 net plus 20% VAT giving a total cost to the customer of £120. Under the Flat Rate Scheme the VAT liability is 10% of the £120 = £12. So is the Rev...	SecondTrader	8	1791	Tue Aug 1 05:04 2023 by Artois
	Higher rate taxpayer calcs (Preview) Hi Could anyone cast there eye over this for 22/23 YE? I am (pretty) confident with the Dividends but not the Tax due on Pension income.Gross Income from State Pension10,926.00 Gross Income from Teachers Pension25,114.00 Dividend income32,804.00 Total Income 68,844.00 Personal Allowa...	tonys	6	1459	Tue Jun 27 11:39 2023 by tonys
	Unreconciled Vat return transactions in Sage 50 Account (Preview) Hi All, I hope you can help. I am preparing a Vat return for a client and came across something rather odd. There are quite a large number of historic, unreconciled VAT transactions which should ideally be included with my next VAT submission. The problem is that the first 3 quarters VAT returns in the...	Hana NB	5	2086	Mon Jun 26 16:06 2023 by No
	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	1418	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	1234	Wed May 17 09:47 2023 by No
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